Interest Rate
-
5paisa P2P Limited offers easy loans at the interest rate appropriate to the creditworthiness of the borrowers. The interest rate starts from 10% on our platform.
Why borrow?
Borrowing through a peer-to-peer
lending platform is quick, hassle-free,
collateral free and affordable.
Quick and hassle-free personal loan
It’s a 4-step application process, and requires minimal documents.
Secured and completely digitised process
Create passive monthly income with regular repayments from borrowers
Interest rates starting as low as 10%
Collateral free borrowing at affordable interest rates
Save on charges
No additional charges
on foreclosure.
Secured process
All your personal data is protected and confidential at all times.
Platform
Landscape
10,000 +
Total Lender Registered
₹ 100,000 +
Loan Disbursed
12.40 %
Platform Return
Why Borrow on 5paisa Loans?
Here's why a personal loan through 5paisa Loans is the right choice for you
Getting loans are now easier than ever.
Fast disbursal owing to strong network of lenders
Personal loans once listed are funded almost instantly by the strong base of lenders on the platform.
Higher flexibility with
no pre-payment charges
Pre-pay loan amount or pre-close your loan as and when you want to without worrying about any pre-closure charges.
Hassle free loan without any collateral requirement
Our digital-friendly approach makes the entire process swift and agile. All the loan documents are collected online and processed in real time.
Credit evaluation process that goes beyond CIBIL score
We use a very robust credit evaluation model which takes into account different parameters like open loans, repayment history, income in hand, amongst others.
Eligibility Criteria
Avail instant personal loan through our best-in-class lending platform. All you need to do is enter few details and check your loan eligibility. Our criteria for eligibility is fairly simple.
Indian
At least 21
years old
Monthly income of at least ₹ 18,000
Income proof documents
PAN card
holder
Valid Id and
Address proof
Valid Bank
account
What are the documents required to register as borrower?
Borrowers are evaluated on various parameters and not just on the CIBIL score. Following documents are required to complete loan application
List of documents required for salaried professional
- PAN Card
- Aadhaar Card
- 3 months salary slip
- 6 months bank statement
List of documents for
self employed
- PAN Card
- Aadhaar Card
- Last 2 years ITR
- 6 months bank statement
How to Get Loan?
You can get your loan amount in just 4 steps. Once the process is complete, your loan amount is disbursed in less than 24 hours.
1
Register online
2
Get verified as borrower
3
Accept loan agreement
4
Get your Loan
Borrowing Process
Easy and hassle free online personal loan application process
Register
Evaluation of loan application
Listing as active borrower
Loan disbursed
Accept loan agreement
1. Register and upload documents
Create a borrower's account by filling in a simple online form and uploading copies of requisite documents.
2. Evaluation of loan application
Your details along with the documents are verified by our in-house team. Our evaluation parameters include credit score, open loans and income in hand amongst others.
3. Listing as active borrower
Post successful credit evaluation, borrowers are listed on our platform along with their creditworthiness details in terms of approved loan amount, applicable EMI and interest rate.
4. Accept loan agreement
Borrowers can accept the loan online by signing a legally-binding agreement between the borrower and the lenders. You can choose the EMI date as per your convenience.
5. Loan disbursed
We take less than 24hrs to process your loan application, and once approved, the loan amount is deposited in your bank account the same day.
Rates and Charges
Personal loans at competitive interest rates with pocket-friendly EMIs
Fees & Charges
-
Registration fee
The borrower has to pay a fixed registration fee of Rs. 300 to apply for personal loan. Registrations fee is a one-time fee paid by the user and it is non-refundable.
-
Processing fee
A nominal processing fee starting from 2.5% of the loan amount is levied and gets automatically deducted from the loan amount before disbursal.
-
Prepayment charges
Borrowers can easily pre-pay loans at their own convenience and as many times as they want to at no additional costs.
-
Late payment Fee
Borrowers should ensure paying all EMI’s on time to avoid any late fee. If you fail to pay EMI on time, a late fee of 24% per annum will be charged on the EMI amount.
Know the Lender
Get instant personal loan online from registered lenders on 5paisa’s P2P lending platform
Verified lenders across country
You get a chance to reaching out to thousands of verified investors spread across India through our P2P platform.
Multiple lenders offering instant personal loan
Even lenders interest is secured as multiple lenders fund a borrower’s requirement.
Avail loan up to Rs 10 lakh
Borrowers can avail loan up to Rs 10 lakh from multiple lenders depending on their credibility for a loan tenure ranging from 6 months to 36 months.
Some interesting reads
Frequently Asked Questions
Why to take personal loan from 5paisa Loans?
5paisa P2P is RBI certified NBFC-P2P which offers personal loans at low interest rate to borrowers. We offer complete online process with paperless documentation and fast disbursement.
What amount of personal loan can I take and what will be the tenure?
You can avail loan starting from Rs 30,000 to Rs 10,00,000 depending on your eligibility. Loan tenure starts from 6 months and can go up to 36 months.
What is the eligibility requirement to take loan from 5paisa Loans?
The eligibility to become a borrower at 5paisa Loans is fairly simple and basic.
- Resident of India
- At least 21 years old
- Monthly income of at least 18,000
- Income proof
- PAN Card
- Valid Id and Address proof
- Valid Bank account
What documents are required to borrow personal loan online?
5paisa P2P is RBI certified NBFC-P2P which offers complete online and paperless process.
You get
- Verified borrower listing
- Creditworthy borrowers
- Fixed monthly returns
- Above average market returns
How to take loan from 5paisa Loans?
You can take personal loan in just four simple steps. They are as follows:
- Register online and create an account
- Upload required documents
- Accept loan agreement
- Loan gets disbursed in your bank account
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