The borrower pays EMI through ECS / manual payment/payment gateways which is credited to the Lendenclub account. It is then credited to your Escrow (Lender) account in terms of EMI. Usually the EMI's are credited on the due dates itself however, it might take upto 3 days for the repayment to credit if the payment is processed manually by the borrower.
How does the repayment take place and where it will be credited? Print
Modified on: Fri, 5 Mar, 2021 at 3:03 PM
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