India’s leading Peer-to-Peer (P2P) platform, OMLp2p.com has partnered with Jan Dhan Co-op. Credit Soc. to provide loan to individual borrowers for their personal and business. Jan Dhan Co-operative Credit Society Limited is registered under section 9(1) of Maharashtra Co-operative Societies Act, 1960, established on 2nd November 1987. Jan Dhan Co-operative Credit Society Limited has agreed to act as collection partner for the platform and accordingly these loans are fully guaranteed by them for the outstanding Principle as well as Interest accrued thereon.
Features of Jan Dhan Borrowers:
Loan Type: Personal Loan
Loan Purpose: From Wedding to Home Renovation
Loan Amount: Rs. 25,000 to Rs. 100,000
Loan Period: Up to 12 months
Annualized Return: Payable to the Lender will be 11%* p.a. for loans up to 12 months tenor.
Borrowers’ occupation: Salaried or Self Employed
Age Criteria: From 25 years to 60 years
Grade / Rating: All loans originated under this tie up will be rated “JDSO” denoting servicing and guarantee by the originator.
Guarantors: Each loan will be having either a Co-borrower or a Guarantor; Co-borrower / Guarantor will be one of the blood related family member – like Spouse, Parents, Children, etc.
Disbursement: All loans will be disbursed to the borrowers.
#: Please click here to see for detailed T&C.
- Q. What is the tenor of the loan?
Loans under this category are having tenure of 3 months to 12 months.
- Q. How is the fee structured at OMLp2p?
ROI of 11% p.a. is net of any charges or fees. OMLp2p does not charges any further fees on this return.
- Q. How much return I can expect by investing through P2P lending platform?
The rate of interest (return) payable to the Lender will be 11.00 % p.a. (# for loans up to 12 months.)
- Q. Is my money safe?
All loans enlisted in this category are in accordance with the credit policy of the platform. OMLp2p takes utmost care in selecting their borrowers as per their credit policy. Before being approved and listed for funding, all the borrowers invariably need to pass through the OMLp2p credit policy.
Jan Dhan Co-operative Credit Society Limited is registered under section 9(1) of Maharashtra Co-operative Societies Act, 1960, established on 2nd November 1987. All loans in this category are fully backed by the corporate guarantee of Jan Dhan Co-operative Credit Society Limited.
In addition to this, all loans in this category are having co-lenders / Guarantors; who invariably need to be family members, like spouse, parents, children, etc.
- Q. How Is My Return Calculated?
EMIs are calculated by the reducing balance method on a monthly basis. Instalments remain the same throughout the tenure of your loan. However, borrower can prepay the loan at its discretion*.
The first instalment will be dependent on the date of disbursal.
- Q. Do I get to know my borrowers?
Yes, all our loans are disbursed after signing off legal agreements. All the borrower or lender has full access to his legal agreement at his dashboard. As a lender, borrower details will always be available in the loan agreement.
# - T&C applies