Frequently Asked Questions About P2P Loans

IndiaMoneyMart is a Social P2P lending/borrowing marketplace on the internet. It brings people, who need money and people who have idle money, to interact together and facilitates a loan transaction between them.

No, IndiaMoneyMart is not a financial institution. It is just an online marketplace that brings together Borrowers and Lenders to enable a transaction between them on their own terms.

Individual Borrowers get loans from individual Lenders in this marketplace on the internet.

IndiaMoneyMart just provides a service to the Indian nationals, abiding the laws of the land.

IndiaMoneyMart charges a minimal fee for all the services that it renders to the Lenders and the Borrowers in this platform.

Lenders need to pay a one time registration charge of Rs.1000 and also 1% of the total amount invested by the Lenders through this platform.

Borrowers will be charged INR500+GST, i.e. INR590 (One-time application processing fee). Along with this, a transaction fee of 3% to 5%+GST over the disbursed loan amount is applicable for loan tenure upto 36 months.

** GST if any, shall be levied upon the above stated registration charges/application processing fee, as per actuals.

IndiaMoneyMart’s business transactions and its business model work on a Peer-to-Peer (P2P) concept. This signifies, that the interest rates and the tenure of the loans on this lending platform are determined mutually by the Lenders and the Borrowers and not by us.

Unlike Banks, IndiaMoneyMart only charges a fixed transaction fee for its support to the registered members and so does not make any money on the proposed interest rates.

Lenders on IndiaMoneyMart do their business online and so save upon overheads, which lowers both our and our Lender’s operating costs, that we pass on to our Borrowers on this e-lending platform.

You can invest for a tenure starting from 3 months to 60 months.

In the event of closure of IndiaMoneyMart, all loans that have originated through the IMM platform still holds good, till full and final payment by the Borrowers are accomplished.

This is because, all loan agreements done through IndiaMoneyMart are signed directly between the Lenders and the Borrowers.

Hence, legitimate actions are possible against Borrower’s default in payment, even if IndiaMoneyMart closes its businesses.

No, we never share your information with any third party organizations or individuals other than for official verifications or credit rating purposes. Only necessary information such as loan requirement purpose, employment status, educational background and others are shared between the Borrowers and the Lenders on this e-lending platform, for making informed decisions before lending or borrowing money through IndiaMoneyMart.

No contact details such as phone numbers, email or other similar data of the Lenders and the Borrowers are shared through this platform.

Please refer to our Privacy and Security Policy for more details.

IndiaMoneyMart is headquartered in Mumbai with its pan-India presence in all the major cities. Lenders and Borrowers on IndiaMoneyMart, can be from anywhere within the Indian territories.

IndiaMoneyMart conducts strict verification of the data and documents provided by the Lenders. In addition, we also appraise each request to ensure that the concerned Lender can afford to give out loans within the boundaries of the statutory laws of India.

We even make sure that the Lenders do not use our platform to fund any legally prohibited actions, activities or purposes.

Once a loan transaction is accepted and closed by the Borrower, the Lender is supposed to pay the Borrower within 3-5 working days.

Once a Borrower listing has been approved by IndiaMoneyMart, the entire profile of the Borrowers can be viewed by all registered Lenders (including their financial information)- unless the Borrower has blocked it. You may also contact the Borrowers through the IndiaMoneyMart messaging system.
For further information please view IndiaMoneyMart Privacy Policy.

Repayments are done over Equated Monthly Instalments (EMIs) and are calculated using the “Reducing Balance Method”.

In case the EMI is not paid within the due date, additional penal interest will be applied to the amount due for the duration of delay which the Borrowers will be liable to pay their Lender(s). Additionally a collection charge of Rs. 500 will be charged to the Borrower by us, once the EMI is not paid on time.

In the worst case scenario IndiaMoneyMart will facilitate the collection of the dues through empanelled agencies.

This also includes legal process, if required, for recovery of the funds.

Please write to stating your old Bank details and the new one that should replace the old one.

Swapping charges of Rs. 500 per swap will be applied to you for this, on your account.

This will generally depend on the number of Borrowers in the IndiaMoneyMart marketplace who are willing to borrow from you, based on the returns you expect and the money you are willing to lend. However, you may also find your money matched to any of the Borrower’s needs within a day of you getting listed, on our money lending platform.

Yes, depending on the size of your wallet balance, you can lend to multiple borrowers and once you finish the tenure for the committed amount, you may register for yet another investment request.

All the earnings will be taxable as per the Income Tax rules that apply to you.

As a Lender, your complete listing page is available for viewing by all registered users on IndiaMoneyMart platform.

A good Lender listing should clearly mention the minimum investment amount to each Borrowers, expected returns, and if any specific purposes you would like to invest in.

This will attract the right Borrowers to your page with loan requests. Adding your photos can also increase the potential for attracting Borrowers and enhance the Lender’s credibility.

A Lender listing is open as long as the committed funds are available in the Lender’s account and if there are still any money due from any of the Borrowers on IndiaMoneyMart .

IndiaMoneyMart does not close any Lender’s account unless the Lender has specifically requested for it.

No, you may not necessarily have to go through a verification process once again if you add more funds. However, IndiaMoneyMart may choose to re-verify the Lenders at its own discretion.

A Lender's listing is considered open when it appears in the Lender listing page and the Lenders can receive loan request or make offers to the Borrowers.

Lenders can create their listing page as soon as their registration is complete.

The Lender listing is made public immediately.

In such a case, you can add more money into your account by clicking "Add Funds" in "My Investments" once you login to your account.

Yes, before your Lender’s listing gets expired, you can cancel your listing on our website.

However, cancelling a listing implies that the Lender is not interested in providing any loans through IndiaMoneyMart platform.

To cancel your listing, please send an email to and your account will then get subsequently deactivated within a period of the next 30 days.

No, you cannot make changes in your listing page once it is open.

However, you can change the investment amount. In case you want to increase your investment amount, you can do this by clicking on "Add Funds" under "My Investments", in your account.

Yes, as a Lender you can update your offer on your Borrower's listing.

You can change the investment amount as well as the interest rates. Once you have updated an offer, the pre-existing offer is deemed nullified.

You can do this by going to the "Offer Made" and clicking on "Update Offer".

Since Borrowers pick their offers from Lenders they are interested in borrowing from, it is most likely that your offer was not competitive and the Borrower selected another offer over yours.

Yes, as a Lender, you can withdraw an offer already made to any particular Borrower.

You can do this by going to the “Offer Made” and clicking on "Withdraw Offer".

Please note that you cannot withdraw your offer after the Borrower has selected it and the Borrower's listing is "Closed".

For Personal loan: Between Rs. 25,000 and Rs. 3,00,000

Yes, and there are no prepayment penalties with us. ( While Banks charge in-between 2-4%)

This may have happened if any deficiency has been found in the data and/or documents received from the Borrower.

Interest rates depend on the credentials of the Borrowers and the demand of the Lenders in the IndiaMoneyMart marketplace.

It can only be finalized once the concerned Borrower and Lender agree mutually on a particular interest rate based on their mutual convenience.

IndiaMoneyMart conducts a strict verification process of the data and documents provided by the Borrowers. In addition, we appraise each request, to ensure that the credit worthiness of the Borrowers meets the market standards.

However, at the end Lenders are the ultimate judge for lending their money to the Borrowers on our website.

Repayments are done through Equated Monthly Instalments (EMIs) and are calculated using the “Reducing Balance Method”. Your instalment per month will remain the same throughout the tenure of your loan.

Once your listing has been approved by IndiamoneyMart, your entire profile can be viewed by all registered Lenders on our website.

Your financial information is shown to the Lenders by default, as this help the Borrowers to get a loan faster. However, you have the option to block this information.

We do not show anyone’s address or phone number to prevent harassment. Financial information on your profile will not be visible to the general visitors on our website.

For more information please view our Privacy Policy.

No, everything is transparently explained on our website and you will also receive your “Statement of Accounts” that will show all the relevant details.

Yes- and that too, without any penalties.

IndiaMoneyMart does not provide you with your credit score.You may contact CIBIL and order your credit report for yourself, individually.
Or we can even contact them on your behalf and get your credit rating report.

No, to increase the loan amount, you can create a fresh loan request for the difference that you want to borrow once again.

Yes, if at any stage the information furnished by you or the verification(s) initiated by us are found to be incomplete, fraudulent or unverifiable then the loan request can be terminated.

Your registration fee would not be returned under these circumstances.

No. Currently, you can be either a Lender or a Borrower on our e-lending platform.

Please write to requesting cancellation of your registration as a Borrower. Loan cancellation can only happen prior to disbursal of the funds.

Your Login details are securely stored and used for only one purpose - to retrieve transaction records from your banking site for the last 6 months.

You can seek loans for any purposes like:

  • Undertaking a professional course or for the education of your kids
  • Weddings and family functions
  • Vacation and holiday travels
  • Refinance Credit Card dues
  • Down payments for cars and bikes and other two-wheeler
  • Home renovation
  • Bridge an ongoing loan for your business
  • To cover relocation expenses
  • Any medical emergencies
  • Debt consolidation
  • Small auto-loan down payments

Repayments can be made through several means.

All payment modes and instruments recognized by the RBI like Cheques, NEFT, Debit Card and Credit Card payments, Bank transfer and others.

It is important to read this cancellation and refund policy of IndiaMoneyMart carefully. You should familiarize yourself with the terms of this cancellation and refund policy, prior to using any services on the IndiaMoneyMart website.

All borrower applications are subject to scrutiny by the IndiaMoneyMart's risk management team and in case an application is not found suitable, then IndiaMoneyMart reserves the right to reject loan proposal by the applicant, seeking the loan.

In case a loan application is rejected prior to its listing on the IndiaMoneyMart portal, then IndiaMoneyMart will refund Rs.500 to the applicant and also provide the following services:

  1. An opportunity to re-register on IndiaMoneyMart website and explore the platform.
  2. An individual credit analysis report from the proprietary IndiaMoneyMart underwriting engine, with exact reasons for declining your loan application.
  3. IndiaMoneyMart would provide suggestions on how a loan seeker can improve his/her credit profile, which will help in acceptance of his/her future applications.
  • Please note, no overseas payment can be made through wire transfer or any other means to our Bank account.

In the event of cancellation of services due to any avoidable or/and unavoidable reasons we must be notified of the same in writing at

Cancellation charges will be effective from the date we receive your advice in writing, and cancellation charges will be 50% of Registration fees after registration and before listing.

Once profile is listed on our portal and there is cancellation request by borrower, we are not liable for any kind of refund in such a situation.