One Stop Peer to Peer Lending Site For Borrowers

LB Circle is a peer to peer lending site where lenders and borrowers meet in a network to seek desired amount of money which can be easily borrowed by genuine an authenticate lenders. Where banks offers a standard rate to all its customers for fixed deposits and personal loans where you not have to run from one window for completing the formalities that can be mere waste of time. To save all the issues related to time and physical hassle that take place in any bank, you can simply opt for single window facilitation services where you get verified all at once, so that you can lend or borrow money via this peer to peer lending site in no time. There are certain advantages of this peer to peer lending site, which benefits both lenders and borrowers both all, are enlisted below:

• Direct Interaction: Lenders and borrowers can interact and decide the amount, rate of interest, instalments, and more, directly.
• Set Better Rates: Both lenders and borrowers can set their lending and borrowing rates, as per their convenience, respectively.
• Documentation& Expert Advice: Legal team assists you to prepare all the legal documents no matter you are either lending the money to someone, or else you’re borrowing the same. On the other hand, you can seek expert advice whenever you wish, to clear your doubts and issues.
• EMI Scheduling: Best way to keep a track of the future EMI’s and payments made by you.
• Debt Recovery Assistance: To recover your money from any borrower who might not be paying on time or seems to postpone payments every now and then, for such issues you get proper assistance to recover your debt amount legally.
• Apply to Multiple Lenders: Money for loan can be borrowed via multiple lenders at a time.
• No Prepayment Penalty: Borrowers can wish to pay early or which no prepayment penalty shall be charged to them.
• Expert Risk Management: Team assists you in all types of risk management issues.
• Interest on Reducing Balance: Borrowers have to pay the interest decided as per their mutual discussions, on monthly reducing balance of loan amount.

Last but not the least; it’s simply easy, faster, genuine and safest way to lend or borrow money as the entire process takes no time and allows you to play your action without any hassle.

All you need to do is simply register as borrower or lender. Then, the LB Circle verifies the details of the borrowers and also ensures its paying capacity. Borrower explains why he needs the load and at the same time lender can decide whether he wish to lend the money to the buyer or not. The repayment amount and rate of interest is decided mutually by both buyer and lender. The best part that may be loved the buyers is you can borrow a single amount of loan by multiple lenders, which means lenders can lend according to their capacity with mutual discussion.

If you wish to lend money to borrowers and build some money mere by sitting in front of your laptop, or if you’re someone, who needs money at better rates and custom EMI’s, then this peer to peer lending site can be your one stop solution.

Why Online Peer To Peer Lending Is The Need Of The Hour?

There are very less things that have not touched the digital spectrum in today’s competitive market. With the people of our country becoming more and more tech savvy, there is almost every other company, which wants to do something online. The e-commerce industry has also grown a great deal. With online you can actually reach more people and more states of a country in a single communication. This is the beauty of going online with your communication.

One platform come up recently called the Lender Borrower Circle or LB circle is an initiative to provide better financial services to the clients sitting at their home. It facilitates peer to peer lending through online mediums. 

Here’s why this one of the best financial services you can opt for in case you are planning to lend or borrow money.

The first and foremost thing is that it offers both the parties i.e the lenders and the borrowers an option to set the rates themselves. How this is beneficial to both is, say for example if the bank offers the lentders 9% rate of interest and the borrowers an 18% rate of interest, they can easily settle in on a rate between 9 and 18% which is beneficial to both. This is how such a platform is beneficial to both the parties. Apart from this also there are many other major advantages like you can choose who to borrow from or who to lend to, you can set an EMI scheduling, and there is debt recovery assistance and so much more.

Borrow and Lend Money Online Through This Platform

One of the leading platforms for lending and borrowing money, LB Circle offers various advantages for both the lenders and borrowers. These are:

1. The best part is that both the parties can sit and decide on the rates for themselves.
2. The documentation is a lot easier and LB Circle helps ensure that all the legal formalities are completed with the minimum effort from the borrower and lender.
3. Debt Recovery Assistance is one of the major benefits offered by a platform like LB Circle. It helps recover your debt legally and provides full assistance.
4. EMI scheduling is another great option offered by this portal. You can easily schedule payments and the platform will remind you about your EMIs in advance so that you do not forget them.

To avail these benefits, there are various eligibility criteria as well which need to be fulfilled both by the lenders and the borrowers. These are:

1. Both the lenders and the borrowers need to be a resident of India.
2. While the lender needs to be minimum 25 years of age, the borrower needs to be at least 21 years of age.
3. Both the lenders and the borrowers need to have a valid bank account in India.
4. Both the parties need to agree to abide by the policies and code of conduct set for them respectively.
5. Both the parties should have a PAN card and should share their Tax filing details.
6. The lender should share his minimum income details of 6 lacs per annum so that he can have an investment in lending money and the borrower should also have a minimum income to ensure he or she will be able to repay the loan.

Money Lending and Borrowing Just Got Easier and Quicker

In today’s times, things are moving online. Since we have internet banking and a lot of people manage their finances online, there are other things as well that you can do online now. Something like borrowing and lending money has also become easy and online.

LB Circle, also known as the Lender and Borrower circle is a peer to peer lending facilitation service in India which helps users in lending and borrowing money online. It provides a platform where the lender and borrower meet and can exchange money on mutually agreed terms and conditions. LB Circle here adds as a facilitator who facilitates the deal.

The best part about this kind of a system is that the borrowers and lenders here can negotiate and set their own terms for the deal like the interest rate, the tenure of the loan, etc and do not require a formal institution to intervene in the process.

There are few basic steps that need to be followed to ensure you are eligible to participate in the lending borrowing platform. The first and foremost thing that needs to be taken care of is that the lenders and borrowers need to create a profile online. Once their profile is complete, it is verified by the LB Circle team. Once verified, the borrowers can borrow money online by applying to multiple money lenders and make sure the probability of their loan getting approved is high. Once they have applied, the borrower profiles are shared with the lenders making sure they have ample time to study and decide whether they want to lend money to a particular person or not.