At LenDenClub, we charge the following fees from Lenders.
LenDenClub charges Rs.500/- p.a, non-refundable registration fee from lenders.
Facilitation Fee is applicable in 3 slabs:
For loan offering Rate of Interest up to 14%, applicable FF is 1.5%
For loan offering Rate of Interest above 14% and less than 20%, applicable FF is 2%
For loan offering Rate of Interest equal to or above 20%, applicable FF is 3%
We have also updated the way the facilitation fee will be deducted. The current method deducts the facilitation fee after EMI is credited in your account which clutters your account statement and makes the transaction numbers unnecessarily higher. In the new method, for loans listed from 1st April 2020, the amount will be credited after the deduction of the facilitation fee.
Click here for the calculations/methodology of facilitation fee