Registration Fees – Rs. 1,000
LoanMeet charges Rs. 1,000 as Registration fees, and it needs to be paid on or after registration. If LoanMeet could not get you a loan in two weeks, then it would refund you Rs. 500 out of Rs. 1000 registration fees.
Loan Processing Fees – 2 – 5%
|12 % or Lower||2% of Loan Amount|
|12 – 15 %||3 % of Loan Amount|
|15 – 18 %||4 % of Loan Amount|
|18 and Above||5% of Loan Amount|
The processing fees depends on the interest rates at which your loan is funded by our pool of investors.
Unlike banks or NBFCs, why does LoanMeet charge registration fees?
The registration fees is used to get your credit report, verify your home address, your office address, and your credentials. Currently, CIBIL charges Rs. 500 for credit report, and a customer service executive charges Rs. 200 for home verification, and Rs. 200 for office verification. In addition to that, LoanMeet needs to verify your credentials and bank statements. Without verifying your identity, home address, bank statements, and credit profile, we cannot share your profile with our pool of investors.
Is registration fees refundable?
NO. However, if we cannot give you a loan in two weeks after registration, then we would gladly reimburse you Rs. 500. We will reimburse you entire registration fees if we cannot get you a loan, and a bank/NBFC provided you a loan.
Can I get a loan at 12 % ?
Yes, you can. Below is eligibility criteria for 12% interest loan.
- Salary – Rs. 40,000 and above
- CIBIL – 0, or 750 and above
- Investments – 10 % or more of your monthly salary into Savings Account, Mutual Funds, or others Investments
Why is the interest rate offered to me is 18 % or above ?
Please understand that the interest is set by our investors. If they think that their money is at risk, then they would ask for higher interest rates. Having said that, we have investors who have given loans at 12%.
Our Pricing Policy may change from time to time.