We sign an auto debit form, also known as NACH by the borrowers that give LenDenClub the authority to deduct the EMI directly from the bank account of the borrower.
Articles in this section
- Can I get personal details of any borrower
- Does LenDenClub have the authority to debit the EMI from borrowers?
- How does the investment transfer happen?
- How does the repayment take place?
- Where to track the borrower’s EMI?
- What are the delay charges paid by borrowers?
- How would be the repayments carried out in case LenDenClub shuts down?
- Where would I get repayment from borrowers?
- What are the efforts taken for loan recovery?