OMLP2P, a leading Indian Peer to Peer Lending Platform, provides opportunities to its borrowers to take Personal Loans as well as Business Loans from a wide range of lenders (investors) from across India to fulfil their various requirements for purposes like Student Loans, Education Loans, Business Loans or Personal Loans etc. The wide range of investors spanning across India and high quality of credit assessments by OMLP2P helps borrowers avail their loan requirements in an easy, transparent and cost-effective manner - no wonder you will like to call it's an easy loan.
Our P2P lending platform understands the needs of the borrowers; hence the platform allows its borrowers to avail their Personal Loans for all types of their personal as well as business requirements. Personal Loans starting from Rs. 25,000/- to the maximum of Rs. 10,00,000/- can be borrowed at the OMLP2P lending platform.
Our experienced team has developed an advanced credit scoring algorithm to enable investors to take an informed decision about lending to even those borrowers who either have no credit score (no credit history) or are having temporarily impaired credit score.
The OMLP2P lending platform provides unsecured personal loans online so that borrowers may borrow money online at most competitive and transparent interest rates. We also have an online loan EMI calculator to enable borrowers to calculate their monthly financial expenses and evaluate their cost of borrowings and get loans online for their various requirements, including Debt Consolidations, Education Loans, Consumer Durables Loans, Home Refurbishing Loans, Weddings Loans (Marriage Loans), Travel Loans, etc.
So, no more worrying about arranging low-cost funding. At OMLP2P, online borrowing is easy, simple and transparent with minimal documentations., you may end up calling this personal loan at few clicks. Apply online for Personal Loan and enjoy the benefits.
Other Fees & Charges related to Personal Loan
You can check the fees and charges which are levied by peer to peer lending platform before you apply for a personal loan.
You can easily apply for a personal loan through OMLP2P. You will only be required to provide a few basic details which will help OMLP2P check your eligibility for a personal loan. OMLP2P will take you through an easy to fill form wherein you will be providing the following information:
Loan Amount: Borrowers can request loan amounts between ` 25,000 (minimum) to ` 10,00,000 (maximum), in multiples of ` 5,000
Loan Tenure: Platform facilitates loans for the duration of minimum 3 months, and in subsequent multiples of months of 6, 9, 12,18, 24 and 36 months with 36 months being the maximum tenure.
Interest Rate: All rates displayed on the platform are in APR (Annual Percentage Rate) format. APR offered to borrowers will vary from case to case basis, as per their respective credit profiles. APR's on our platform will range from 9.49%(min) to 36%(max).
Repayment: All loans are paid through Equal Monthly Installments(EMI's), using reducing balance method, through an escrow mechanism.
Prepayment and foreclosure: Loans can be prepaid or foreclosed anytime during the tenure of the loan subject to certain charges & terms. For detailed charges for foreclosure within 3 months and for foreclosure beyond, please refer to our FAQs and our Fee Section.
Platform Fee: We charge a small processing fees to meet our expenses. Please visit our Fee section for a detailed description.
Example: If a borrower accepts a loan of ` 25,000 for a tenure of 12 months, at an APR (annual interest rate) of 12.00%, then the borrower will have an EMI of ` 2,221. Total interest payable is ` 1,654 and total amount payable is ` 26,654.
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