|Loan Period (in month)|
UdhaarDe verifies each and every member at the time of registration, either as an lenders or borrower. This ensures that the information that you see on our website about each member is authenticated to the best of UdhaarDe's capabilities. For the same, we collect Personal, Professional, Social and Financial details from each potential member
Once borrower and lenders come to a mutual agreement, UdhaarDe will help them legalize the transaction by signing a formal contract. We make necessary provisions and help both parties realize the deal without the necessity of a physical meeting.
Once a loan is disbursed, we help lenders with the collection and recovery of loans. Delay in repayment by borrowers draw a penalty that is pursued by UdhaarDe as part of the process.
We at UdhaarDe do not collect money deposits from either borrowers or lenders. All monetary transactions are directly between the two parties.
Decisions to lend on UdhaarDe are entirely at the discretion of potential lenders. We do not guarantee fixed or minimum rate of returns to any lenders.
UdhaarDe does not give any financial advice or recommendations to either borrowers or lenders on this platform. Members are encouraged to make their own researched and informed decisions and transact accordingly, free of any coercion or any form of influence from us.
If you have further queries, feel free to email us at email@example.com
Once registered, lenders can reach out to listed borrowers and borrowers can reach out to registered lenders. Once an offer is accepted, you receive a notification. Either of the user can approach each other.
Basic information such as Amount, expected rate of Interest and tenure is sent with the proposal.
When both parties accept the loan offer, the process of formal contract signing begins. After the loan is disbursed, lenders will receive EMIs on the 10th of every month. If a borrower fails to pay an EMI within a stipulated time, a penalty is levied on the borrower which is payable to lenders directly.
UdhaarDe encourages its user to use auto debits for repayments. However, fund transfers can also happen through Bank Cheques, IMPS, NEFT and other auto debits.
The funds are transferred directly between users. If PDCs are issued for repayment, they are directly issuing in the name of the investors.
UdhaarDe also encourages its users to transfer money electronically from leading banks across the country.