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.