RupeeCircle Connects Borrowers and Investors
How RupeeCircle Works
1. Registration
Register as a borrower/investor by providing your basic personal information and fulfilling KYC norms as per the RBI guidelines to create a RupeeCircle account. Our in-house risk assessment team will verify the information provided and validates the account.
2. Borrower Applies for the Loan
Upon paying the login fees and account activation, the qualified borrowers can apply for personal or business loans by stating the amount required and the tenure of loans. You would have to provide your necessary personal and financial information and upload the required documents.
3. RupeeCircle Evaluation & Verification
RupeeCircle risk assessment team evaluates and verifies each loan application. Our proprietary Credit Score model assigns a risk category and interest rate to the loan applicant.
4. Approved Loans Listed on Marketplace
Once loan application has been approved and the borrower agrees to the terms, the loan is listed on the RupeeCircle Marketplace for investors to fund the loan. Investors then have 14 days to decide if they would like to invest in the borrower’s loan.
5. Investors Fund the Loans
Once the investors’ registrations are verified and approved, they can invest and have access to all the current loan listings on the market place from their account and flexibly build up their portfolio as per their financial goals and risk appetite. Investors can invest as little as Rs. 5,000 and can commit funds to single or multiple loans to diversify risk. To mitigate risks, a loan is generally funded by multiple investors.
7. Monthly Returns for the Investor
Borrower repays the loan as EMIs which is credited to the investors who funded the loan. Investors receive the automated monthly returns directly into their bank account, also providing an option to reinvest earnings to achieve benefits of compounding.
6. Borrowers Receive The Funds
Once the loan has been 100% funded by investors, the borrower receives the funds after verification by the RupeeCircle underwriting team and the signing of agreement between the borrower and the investor. Loan amount is then disbursed from the investor’s account into borrower’s bank account.
