Detailed Process of Payment for Lenders

In order to provide a seamless and clear payment experience, we have a systematic process of verification, agreement signing, payment submission, confirmation, and tracking. The following is a step-by-step explanation of how the payment process is executed after the lender submits their form.

Step 1: Submission of Lender Application
The process begins when a lender shows interest in financing loans and fills out an online application form** on our website. The form gathers required information, such as:

Personal Details: Full Name, Contact Details, Address, etc.
Financial Information: Annual Income, Employment Status, Investment Capacity
Banking Details: Bank Account Number, IFSC Code (for payments)
Upload documents: Inward Proof of Identity (Aadhaar/PAN), Inward Proof of Address (Proof of Residence), Inward Proof of Income, etc.

After submitting the form, the system generates an acknowledgment email to the lender indicating that the application has been received.

Step 2: Background and Verification Check
Once the application has been received, our verification team scrutinizes the submitted documents and financial information of the lender with great care. This process ensures the lender is eligible and complies with regulatory conditions. The verification involves:

KYC (Know Your Customer) Compliance: Verifying the lender’s identity
Income & Financial Status Assessment: Verifying if the lender qualifies under the necessary investment requirements
Creditworthiness & Background Check: Verifying that the lender possesses a clean credit history
Fraud Prevention Measures: Verification of details against government records

In case any inconsistencies are detected, the lender is telephoned to clarify or resubmit the documents. ncomplete applications will not be processed further.

Step 3: Loan Agreement Drafting & Signing
After successful verification, the lender is provided with an official loan agreement detailing the terms and conditions of the investment. The agreement features:

Investment Tenure: Loan repayment duration
Interest Rate or Returns: Prescribed return on investment
Payment and Repayment Schedule: Loan disbursement and return mechanism
Legal Obligations: Rights and obligations of the lender and borrower
Risk Disclosure: Recognition of possible risks involved in lending

The lender has to scrutinize this document thoroughly before signing. The agreement can be electronically signed or signed on paper and uploaded back to the system.

Step 4: Payment Request & Secure Transaction
When the agreement is signed, the lender gets a payment request email, which includes:

A secure payment link (for transactions online)
Official bank account details (for direct transfers)
A unique transaction reference number for tracking the payment

Payment Options Available:
Lenders can choose from multiple payment options to complete their investment:
Net Banking – Direct bank-to-bank transfer
UPI Payment – Google Pay, PhonePe, Paytm, etc.
Credit/Debit Cards– Instant transaction processing
NEFT/RTGS/IMPS Transfers – Secure bank transfers for larger amounts

Security Measures:
All transactions are processed via SSL-secured gateways
Payments are verified through OTP authentication
We never store sensitive banking details

Step 5: Payment Confirmation & Receipt Generation
When the lender makes the payment, the system automatically authenticates the transaction and sends an email confirmation with the following information:

Payment Status: Successful / Pending / Failed
Transaction Reference Number: For future reference
Investment Receipt: A PDF receipt for taxation and record purposes
Investment Details: Loan type, amount, returns, and payout schedule

If payment is not successful, the lenders are directed to attempt to retry the payment or select an alternative payment scheme.

Step 6: Allocation of Funds & Disbursement of Loan
Upon payment confirmation, the amount invested is distributed in the chosen category of loan (Personal Loan, Business Loan, Credit Line). The loan is subsequently dispensed to the borrower based on terms agreed upon.

Lenders are able to monitor their funds from their user dashboard and check:
Status of loan disbursement
Repayment schedule expected
Repayment activity by borrower

Step 7: Repayment & Earnings Payout
With borrowers repaying their loans, the investor’s money in this case of a lender earns income at the interest rate agreed upon. The repayment mechanism is as follows:

1️. Repayments Monthly: Borrowers pay back in EMIs (Equated Monthly Installments)
2️. Auto Payouts: Lenders get paid back directly into their registered bank account
3️. Real-Time Tracking: Lenders can track incoming payments from various borrowers
4️. Option to Reinvest: Lenders can reinvest their returns into new loans

All payments are credited automatically to the lender’s registered bank account.

Last Words
This payment process makes it possible for lenders to invest in loans with ease, monitor their money, and get returns easily. From application to repayment, each process is properly controlled and secured.