Fees and Charges: To ensure that our P2P lending platform operates effectively and efficiently while generating good returns for our lenders, a few fees and charges are applicable. Transparency is a key aspect of our service, and therefore, it's crucial for you to understand these charges and why they are essential for a successful lending experience.
Facilitation Fee: This fee is charged for the range of services we provide to make lending smooth and hassle-free for you. The Facilitation Fee covers the costs associated with running the platform for lender-borrower matching, maintenance of a secure and user-friendly platform, and effective customer support. It ensures that we can continue to deliver an efficient and convenient lending experience for you.
Collection Fee: The Collection Fee is applicable only when we set up with an external vendor or collections partner to manage loan repayments. This helps streamline the collections process while following all applicable guidelines, ensuring that you receive your returns in a timely manner. This fee is a small investment towards making the repayment process as smooth as possible.
Recovery Fee: This fee is only applicable on successful repayment of the delinquent loan from the borrower to the lender. The Recovery Fee is levied for the additional efforts our team puts into ensuring that delinquent loans are repaid, including any follow-ups and legal steps that may be required. The fee is a testament to our commitment to go the extra mile to safeguard your investment.
Each of these fees contributes to the overall effectiveness of our platform, enabling us to offer you a robust, trustworthy lending service. The aim is not only to cover the operational costs but also to reinvest in technology and human resources to make our platform even better. This helps us continue to deliver on our promise of being a reliable investment avenue for you.