Loan Eligibility

RupeeCircle Investors can fund as little as Rs. 5000 for one loan application and can commit funds multiple loans on the marketplace. You can monitor the loan status by logging into your loan account. You have the option to accept the fund once 80% or more of the requirement has been committed.

RupeeCircle conducts physical verification to avoid fraudulent and dubious practices. Upon successful verification, you are required to sign a loan agreement with investors, which is a legally binding document enforceable in the court of law. The loan agreement outlines the terms and conditions of repayment. You are also required to provide 10 Post Dated Cheques (PDC).

Loan amount is disbursed from an escrow account to your bank account within 2 working days. Processing Fee (up to 5% of loan amount, depending upon Risk Grade or Rs 1500 – whichever is higher) is auto deducted from the loan amount prior disbursal of funds to the bank account.

You need to repay the loan through monthly EMIs as per the repayment schedule. A complete repayment schedule will be provided to the borrower. Every month EMI amount is auto-deducted from your bank account to a Repayment Escrow Account. Any delay or default in repayment will attract severe penalty.

You can make repayments via direct debit, PDCs, NEFT, demand draft or any other mode of payment as mentioned in the Loan Agreement.

• Loan Pre-payment – You may also foreclose the loan without any charges post 3 EMIs.
• Loan Completion – Once the total loan amount has been repaid in full along with all the dues, a loan closure certificate will be issued.