Lendbox is an online peer-to-peer lending network that
makes it easy for borrowers to link quickly with the large base of financial
institutions and individual lenders to immediately finance their loans at a
reasonable interest rate. It provides a forum for a diversified range of
clients across India with full finance solutions. It caters to the different
needs of various clients. Lendbox instant loans come with an online EMI calculator that helps measure EMI in
a few steps for an applicant. A dedicated team of seasoned professionals with
the optimal knowledge of the financial sector designs and creates Lendbox.
Lendbox instant loans are also offered through major
banks and NBFCs. You can still get a loan through our lenders if you slightly
miss the eligibility requirements for instant loans from banks and NBFCs. The Lendbox credit
evaluation is much more flexible and relies not only on the CIBIL ranking but
on almost 300 data points.
Features and Benefits of
Lendbox Instant Loan
⮚ Elevated approval rate
The approval interest rate for Lendbox loan
applications is over 45 percent. Thanks to the big data analytics engine and
better ability to understand the consumer profiles, their need, purpose, and
capacity to repay the loan amount.
⮚ Low-Interest Rate
The interest rate of Lendbox instant loans is as low
as 11.49 percent per annum. Not a lot different from banks? Ok, here's the
catch, the secret charges are zero. Pay the small transaction fees and no
pre-closure fees so that you can close the loan before the pre-closure loan
tenure specified so that you can close the loan without any additional fees
before the loan tenure.
⮚ Coverage by Pan India
Lendbox is one of the best personal loan apps in India and has a large presence
in over 35 cities. Lendbox operates in India, which includes almost all major
Tier I and Tier-II cities.
⮚ Convenience
This is one of the key reasons why individuals have begun to lean towards instant loans from Lendbox. While sitting at home, you can apply for an instant loan. Via a website or mobile app, the digital loan application helps save a lot of time and reduce a great deal of effort.
⮚ Calculating EMI
This is one of the best options for people who are
bad-at-math." The Lendbox EMI calculator helps you to grasp the EMI before
a loan is used. You only have to supply the sum of the loan, sales, and current
EMIs (if any). Transparency, accuracy, and error are the results obtained from
the Lendbox EMI calculator.
⮚ Minimal documentation
Since the entire Lendbox instant loan application
process is done online, you have the comfort of uploading the necessary
documents. It saves a lot of precious time, and also paper.
⮚ Quick Options for Repayment
Lendbox provides a personalized payment system from which the EMI option can be chosen for automatic debit. It is primarily a service given to banks and financial institutions by NPCI (National Payments Corporation of India) to easily perform the high/high Transactions that are repeated in nature and are of low value.
Lendbox Instant Loans Eligibility Requirements
Based on different factors, the eligibility
requirements for accessing a Lendbox instant loan can vary. Having said that,
below are the general conditions for eligibility to fit into a Lendbox instant
loan acquisition:
●
You have got to have Indian citizenship.
●
Either a salaried employee or a self-employed
person or a business owner must be you.
●
Your age should be 18 years or older.
●
You should've got A checking account with
savings.
●
Your salary per month should be Rs.25,000.
●
You should have at least 2 years of working
experience if you are a salaried employee.
● If you have a business, it should be profitable for more than 1 year at least.
Conclusion:
As mentioned above Lendbox is one of the best personal loan apps in India. But it doesn’t mean that you will go for the more than required loan amount. It is also advisable to read thoroughly all the terms and conditions of the Lendbox before applying for a loan.
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