Borrowers

  • Borrowers can interact with their peers directly on our online marketplace and can avail loans from multiple lenders.The massive documentation and time consumption for availing loans through financial intermediary has led FundingHub come up with hassle free & transparent transaction at your door step.

    Purposing of borrowing

    Borrowers can avail loan for the following purpose as these are few areas and list can be long but it is between you and lender to agree for any reason they would like you to finance.

    1. Education expenses for self or for the family
    2. Debt Consolidation
    3. Home renovation
    4. Marriage expenses for self or family
    5. Buying any asset
    6. Medical emergencies
    7. Down payment for buying vehicle / home

    Documentation required

    1. Identity proof – Passport, Pan Card, Adhaar card, Voter ID card.
    2. Address proof – Passport, Adhaar Card, Electricity bill, Bank statement, Postpaid telephone bill
    3. Signature proof – Passport, Pan Card, Signature verified by the bank.
    4. 2 photographs
    5. Income proof – Last 3 months salary slip / 2 years annual IT returns for the business / professionals
    6. Bank statement for last 6 months

    Payment of Fees & EMI

    The EMI will be paid by the borrowers directly to the lenders by Cheques / NEFT / ECS.

    FundingHub will be charging one time registration fees to the borrower of Rs.1000/- at the time of registration. Fees can be paid through Cheque / NEFT/ Credit Card / Mobile Wallet to FundingHub.

    FundingHub will be charging processing fees of 2.5% of the loan amount irrespective of the loan you avail. Processing charges will be paid at the time of executing loan agreement and before disbursement by the borrowers.

    Pre-payment of the loan

    NO PRE-PAYMENT Charges!!!  You can pre-pay you loan anytime without paying any pre-payment charges.

    Default / Non Payment

    We would request you to pay your monthly installment on time to avoid any penalties.

    In case borrower fails to pay / defaults on the monthly payments of installment on due date, he / she will be liable to pay default charge of Rs.250/- in addition to penal charges of 24% p.a. for the delayed period to the lender directly.

    In addition to the above, the borrower will also pay processing charges of Rs.500/- to the FundingHub.

    In case you (borrower) decide to change the bank during the tenure of the loan, he / she will have to pay processing charge of Rs.500/- to get this change effected.

    For more details, CONTACT US and feel free to interact with all your queries.

  • Who can borrow

    1. Professionals – Doctors, Engineers, Architects, Lawyers, Consultants,
    2. Salaried Individuals – Working with MNCs, Government organization and large Indian companies / institutions
    3. Businessmen / Entrepreneurs

    How much can I borrow

    Minimum Loan amount will be Rs.50000/- and maximum can be Rs.5,00,000/-

    How long can I borrow

    Tenure of the loan can be 6, 12, 18, 24, 36, 48 months

    Eligibility Criteria

    1. Resident Indian
    2. Should been above 23 years of age
    3. Should have been in service / business for more than 2 years