BORROWERS

Question: 1 Why do I need to register at LendTree?

To avail any Loaning services as borrower or an Investor, one needs to enrol at LendTree by filling a simple online application form. After the successful registration, you can engage in the suite of services offered at Lendtree all from your personal device. Registration allows us to validate and ensure you match the eligibility criteria and ensure you interact with eligible customers.

Question: 2 Is there any eligibility criteria to register at LendTree?

• Applicant should 21 years of age or above
• should be an Indian National with valid address and ID proof
• should have a steady Income (INR 30000 or more in case Salaried or an annual business income of at least 10 lakhs in case Self-Employed)

Question: 3 Are there any registration charges?

Registration Fee to be paid during one-time borrower enrolment is Rs.500/ - Registration Fee to be paid during one-time borrower enrolment is Rs.500/ - These fees will be deducted from the wallet, or directly at the time of disbursement.

Question: 4 Why is email and phone verification necessary?

To be certain that an individual has entered the right contact data; we check both email address and telephone number. This will assist us with serving our individuals better and in a convenient way. Kindly note that client subtleties will stay private according to Terms and Conditions.

Question:1 What is LendTree?

LendTree is an online stage which associates people in India looking to get cash with individual Indians ready to loan cash. It conducts intensive examination of credit profile of borrowers, post which select profiles are then introduced to Investor for loaning.

Question:2 Why borrow at LendTree?

LendTree helps the borrowers get loans online in a hassle free manner at an interest rate which reflects the riskiness of the borrower. It goes beyond CIBIL score, hence, optimal for borrowers who do not have credit history or have low CIBIL score due to one-off issues or require small loans. Our flexible loan size and tenor help borrowers who otherwise face difficulty in getting loans from banks.

Question:3 How can I borrow?

To get started, the borrower needs to Sign Up and upload the required documents. Post payment of registration fees, LendTree analyzes the credit risk of the borrower and approved borrowers are presented to investors for funding.

Question:4 What data can be seen about me?

Once a loan is listed for investors to fund, some basic non PII information of the borrower is displayed to lenders. This includes demographic details of the borrower such as city/employment type etc. and never includes any personal details that could uniquely identify the borrower. This information is accessible to registered users only. For more information, please view our Privacy Policy.

Question:5 Why do I need to pay registration fee before getting the loan?

LendTree levies a nominal amount of Rs. 500 as one-time registration fees so that only genuine borrowers apply. Please note that LendTree incurs much higher costs in analyzing the credit profile of borrowers, and hence, Rs. 500 is to ensure commitment from borrowers.

Question:6 Why was listing of a loan declined?

Listing of a loan may be declined by LendTree due to several reasons which include, deficiency / inconsistency found in the data and/or documents received, misrepresentation or weak credit profile etc. Please contact your Lendtree support for further details, however, it may be noted that LendTree is not obliged to provide reasons for rejecting a loan.

Question:7 Can a single borrower apply for multiple loans?

No, one borrower can apply for only one loan at a time and can have only one active loan, either under consideration or already funded. Once a loan has been repaid completely/closed out, the borrower can apply for a new loan.

Question:1 What is the eligibility criteria for the borrowers?

A borrower should meet the following conditions:

• A resident of India;
• Should be above 21 years
• He should have a valid bank account and a valid PAN number; and,
• His income should be higher than 30,000 per month.

Question:2 What will be the tenor of my loan?

A borrower can borrow for 1 month to 36 months.

Question:3 How is interest rate determined?

Question:3 How is interest rate determined? LendTree dissects the advance utilization of every borrower utilizing restrictive credit assessment instrument which considers a huge number of information points relating to the borrower, his organization/business, full scale monetary circumstance and so each loan has an associated loan cost (LendTree Recommended Interest Rate) and classified from A to F, where A indicates the most grounded credit profile. The borrower can get a loan at a financing cost which is equivalent to or higher than LendTree Recommended Interest Rate. Premium over LendTree Recommended Interest Rate is obviously noticeable to investor and helps attract investors.

Question: 4 How can I increase the chances of my loan getting approved as I think my credit profile is weak?

On the off chance that a borrower believes that his credit profile is feeble because of any explanation, for example, any past postponed installment, case, default, and so forth, he ought to get an underwriter or a co-borrower with solid profile. While advance will be given to the borrower, the credit profile of underwriter will be utilized to improve the rating of the borrower. This will assist the borrowers with getting the advance quicker and at lower loan costs.

Question:5 Who can be a Co-Borrower?

A co-borrower can be any person who agrees to part of the loan agreement along with the borrower. The co-borrower will have rights and obligations similar to that of the borrower and needs to submit all the documents required for a borrower.

Question:6 Who can be a Guarantor?

A person of strong credit profile, preferably living in own house, will add immense value as a guarantor. Guarantor has to provide his PAN Card and sign on the loan agreement. (In Any Case Co-Borrower and Guarantor exist)

Question:7 How long does it take to get a loan?

First and foremost, it is highly recommended that borrower should provide all the documents at the time of registration. LendTree starts processing the application only after receiving complete set of documents. Once all documents are submitted, LendTree takes 24 business hours to approve the loan post which it is listed on the website for investors to fund. Funding typically takes few hours to 7 days depending on credit profile of the borrowers. After at least ___ % of loan is funded, the borrower can opt for disbursal which takes about 3 business days. We are in the process of getting disbursal done instantly post loan gets funded or borrower opts for disbursal.

Question:8 Why was my loan application declined?

There are a few purposes behind declining the advance application which incorporates, deception, high existing obligation, history of credit defaults, and so on

Question:9 Can I apply for multiple loans?

Yes, a borrower can get a maximum of two loans. He can apply for second loan after repaying 6 EMIs of the first loan.

Question:10 Can I be both a borrower and an investor at the same time?

No, this is to avoid speculation.

Question:11 In case I have defaulted in past, can I still apply at LendTree?

Yes. However, it is highly recommended for such borrowers to have a co-borrower or guarantor in addition to supporting documents for past adverse credit behaviour.

Question:1 Can a borrower change the loan amount after approval?

No. This is because loan is approved after thorough credit analysis and borrower’s consent.

Question:2 Can a borrower withdraw the loan request?

Yes. However, the registration fee is not refunded as LendTree incurs considerable costs for loan approval.

Question:3 Can a borrower’s loan be removed even after getting commitments from the investors?

No, except if there is an instance of distortion or fraudor bogus data being given by the borrower. LendTree likewise banishes such borrowers uncertainly from executing at its site

Question:4 What is a Loan Agreement and why is it important?

Once loan gets funded or borrower opts for disbursal, a loan agreement is generated which is signed by the borrower. Loan agreement is a legally binding and enforceable document clearly outlining the terms of loan.

Question:5 When does the money get transferred to a borrower's account?

When the credit arrangement has been marked, house visit has been directed to confirm the archives and three checks have been gathered from the borrowers, investor begin moving the cash to borrower through an escrow account as commanded by the Reserve Bank of India. It regularly takes around 1 – 5 business days.

Question:6 What if one or some of the investors do not transfer the money?

In the event that an investor doesn't move the necessary sum, LendTree attempts to get new investor to fill in the gap.

Question:1 How is repayment schedule calculated?

Reimbursement is done month to month and depends on standard calculation of EMI. Advance timetable is essential for the advance arrangement.

Question:2 What are the modes of repayment?

The borrower needs to sign NACH structure ordering LendTree to auto deduct EMIs from his ledger according to handle endorsed by the Reserve Bank of India. Consistently EMI sum will be deducted consequently from borrower's record by 10th or 25th of that month.

Question:3 Can a borrower prepay the loan amount?

Yes, a borrower can decide to prepay the credit completely or somewhat and as commonly as he wishes according to the alternatives accessible at LendTree. No prepayment punishment will be exacted on the borrower for any reimbursement.

Question:4 What happens in case of delay in repayment by the borrowers?

In case of delay in repayment, additional penal interest as mentioned in the loan agreement will be imposed on the borrower which will be payable to the investor(s). Please refer to the loan agreement for details.

Question:5 What happens in case of default in repayment by the borrowers?

LendTree represents trust and trustworthiness. We treat deliberate default genuinely. Multi prong approach is embraced for recuperation which incorporates empaneled recuperation offices, lawful procedures and so forth In any case, if there should be an occurrence of default because of sad conditions, we assist the borrower with holding over the circumstance and afterward reimburse.

Question:6 What happens to the loan in case of closure of LendTree due to any reasons?

The loan is between the borrower and the lenders and hence, it will stand as it is. There will be no impact on it.

Question:7 How can I change the bank account set up with LendTree?

Post enlistment a borrower can change the financial balance subtleties by reaching LendTree and fee of Rs. 1000 as accommodation expense. Notwithstanding, if the Loan Agreement has been marked, change in record will likewise be dependent upon the Loan Agreement