Lenders

Q. Can I have more than one account as a Lender?

No. You can fund multiple loans through a single account itself.

Q. If I don’t have an Aadhaar card, how can I sign an e-agreement with the borrower?

We will send you an agreement form on your registered email id/postal address. You are required to send the duly filled agreement back to us. We will then send it to the Borrower who will sign the form and send it back to us for safe custody. Loan will be disbursed only after the agreement is signed by both the parties.

Q. What are the various types of Portfolios available?

You can choose from Aggressive, Balanced or Conservative portfolio. You also have a choice to design your own portfolio.

Q. How do I design my own portfolio?

You need to go to your dashboard, create your investment preference and choose the option ‘Design your Portfolio’.

Q. How much allocation is required in the portfolio?

The allocation in your portfolio must be 100%.

Q. How do I create my investment preference?

Login to your dashboard, visit ‘Investment Preferences’ section under ‘Investment’ menu to add a preference.

Q. What all details do I need to fill for creating an investment preference?

You are required to select the investment tenure, enter the investment amount and the expected returns on investment for creating an investment preference.

Q. How do I edit the existing investment preference?

Login to your dashboard, visit ‘Investment Preferences’ section under ‘Investment’ menu and click on ‘Edit’ button to edit the existing preference.

Q. Where can I check the loan amount that has been repaid to me and the pending loan amount?

You can find the details on the total amount received and the pending amount under ‘Investment Summary’ on your dashboard.

Q. Where can I check the total amount invested?

You can find the total amount invested under ‘Investment Summary’ on your dashboard.

Q. Where can I find the balance amount?

You can check the balance amount under ‘Account Summary’ on your dashboard.

Q. Where can I find the overdue amount?

You can find the overdue EMI amount under ‘Investment Summary’ on your dashboard.

Q. Where can I find the Borrowers?

You can login to your dashboard and click on ‘Browse Borrowers’ section under ‘Bidding Board’ menu to find the list of Borrowers.

Q. What all details of a Borrower are visible to me?

You can view the loan details and personal details such as city, age, gender, educational qualification, no. of dependents and residential status of a Borrower. This will help you to make an informed decision before you choose to lend your money to the Borrower.

Q. Where can I find the risk band of the Borrower?

You can find the risk band of the Borrower in the list of Borrowers under ‘Bidding Board’ menu.

Q. How do I start a bid?

You can start bidding by visiting ‘Browse Borrowers’ section under ‘Bidding Board’ menu. You have to select a borrower from the list and click on ‘Bid Now’ button to start bidding.

Q. What all information do I need to furnish to start a bid?

You will be required to enter the loan amount, repayment period and the interest rate to submit a bid.

Q. Where can I view the invitations sent to me?

You can view the invitations by visiting ‘Invitations Sent to Me’ section under ‘Bidding Board’ menu on your dashboard.

Q. What is an ‘Auto Invitation’ under ‘Bidding Board’ menu?

Borrower list for auto allocation will be available under this section. You can ‘accept/reject’ a borrower from the list in this section.

Q. Where can I find the investment details?

You can locate the investment details by visiting ‘Loans Invested’ section under ‘Portfolio Manager’ menu.

Q. What all details are available in ‘Loans Invested’ section?

You can view the following details:

  • Loan Number
  • Borrower Name
  • Investment Amount
  • Loan Start date and End date
  • Loan Status
  • Interest Rate
  • Loan Tenure
  • EMI Amount
  • Interest Received and Principal Paid
Q. Where can I view the repayment statement of a Borrower?

You can view the repayment statement by visiting ‘Loans Invested’ section under ‘Portfolio Manager’ menu.

Q. Where do I find the status of the invitations sent to the Borrowers?

You can find the status of your invitations on your ‘Bidding Board’.

Q. Where can I find the bidding history?

You can go to your ‘Bidding Board’, select the Lender from the list and click on the loan amount to view the bidding history.

Q. Will I be earning any interest on money held in my Escrow account?

Escrow accounts are non-interest bearing.

Q. Why am I required to pay a fee for investing my own money?

Right from Lender registration to verification of documents, signing of e-agreement, there is a cost involved. We utilize the fee submitted by you for the stated purpose. There are no hidden costs.

Borrowers

Q. Is it mandatory to upload the ITR?

You are required to upload the ITR if you mention the bonus amount in ‘Professional Details’. If there is no additional income apart from your salary, you can fill the ‘Total Bonus’ amount as 0 under ‘Bonus/Variable Pay’ in ‘Professional Details’ and you will not be required to upload the ITR.

Q. I receive my salary in cash and don’t have a pay slip. Can I apply for a loan?

You cannot apply for a loan if you don’t have a pay slip.

Q. What all details do I need to furnish to register as a Borrower?

You are required to follow the below steps to complete the registration:

  • Enter your Personal and Professional Details
  • Make Payment
  • Upload your KYC documents
  • Link your Social and Bank accounts
Q. Where can I apply for a loan?

You can apply for a loan under ‘Loans’ menu after signing on to your dashboard.

Q. How do I edit my loan application?

You need to go to ‘My Loan Applications’ section under ‘Loans’ menu on your dashboard to edit your loan application.

Q. What all details do I need to fill while applying for a loan?

You are required to enter the Loan amount, desired Repayment period and Loan purpose.

Q. How do I find the Lenders?

On your dashboard you are required to go to ‘Browse Lenders’ section under ‘Bidding Board’ menu to view the list of Lenders.

Q. Can I filter Lenders based on funds and location?

Yes, you can filter Lenders based on funds availability and preferred location.

Q. What all details of a Lender will be visible to me?

You can view details such as age, gender, city, marital status, and investment details like total committed amount, number of loans invested and funds available for investments.

Q. How do I send a bid to a Lender?

You can go to ‘Browser Lenders’ section under ‘Bidding Board’ menu, select the Lender from the list and click on ‘Bid Now’ button. You can then enter the loan amount, repayment period, interest rate and click on ‘Submit’ button to send a bid.

Q. How do I contact a Lender?

To contact a Lender, you are required to select the Lender, click on ‘Contact Now’ button, fill the loan amount, repayment period, interest rate and send an invitation.

Q. Where do I find the status of the invitations sent to the Lenders?

You need to login to your dashboard and click on ‘Invitation Sent By Me’ under the ‘Bidding Board’ menu to view the status of the invitations sent by you.

Q. Where do I find the details of the loans disbursed to me?

You can get the details of the loans in ‘My Loans’ section under ‘Loans’ menu.

Q. Why am I required to link my Social and Bank account?

There are multiple benefits of linking your social and bank accounts:

  • It helps us to understand you and your borrowing requirements better.
  • It also increases your chance of getting listed on our platform and avail a loan.
  • It enhances the possibility of your application attracting the right lender for you.

Note: All your information remains secured and confidential with us.

Q. How much time does it take for social and bank account verification?

Social and bank account verification usually takes between 4-6 hours. However, it is advisable to apply for a loan after 12 hours from completion of the registration process.

Q. For what all-purposes can I borrow money?

You can borrow money for any of the following purposes:

  • Vehicle Purchase
  • Debt Consolidation
  • Education
  • Family Event
  • Home Furnishing/Appliances
  • Home Improvement/Renovation
  • Medical Expenses
  • Relocation Expenses
  • Travel/Vacation
  • Wedding

Miscellaneous

Q. Why do I need to upload my Aadhaar and PAN card?

This is part of routine KYC (know your customer) due diligence process mandated by RBI. Your documents are digitally stored with us and remain secured.

Q. What is the time frame for e-agreement process?

It depends on the acceptance by the Lender. We will send a reminder to the Lender once the Borrower sends the request to the Lender for signing up the agreement.

Q. Where can I sign an e-agreement?

You can sign an e-agreement under ‘Loan Disbursement’ menu after login into your dashboard.

Q. If I am not able to make an online payment, can I transfer the money to someone in TachyLoans to complete the registration process?

No, you cannot transfer money to anyone’s account for making the payment. Neither do we accept any cash.

Q. Can I share my login credentials with anyone to operate my account?

It is strongly recommended not to share your login credentials with anyone for security reasons.

Q. What is a Chat Support?

 Using our chat support service, you can send a message and start a live conversation with our support team for any queries.

Q. Why is my email id and mobile number verification required?

Email id and mobile number verification are mandatory to make sure that your correct contact details are available with us. This helps us to serve you better and in a timely manner and keep you updated with the transactions on your account.

Q. I did not receive an OTP. What should I do?

This may occur because of DND activation on your phone, use of dual SIM or mobile network issue. Kindly check for these. If you still did not receive the OTP, feel free to contact us at 080-48529900/+91-9108900900.

Q. How does the bidding process work?

After successful registration Lenders and Borrowers can browse the registered Borrowers and Lenders respectively and send a bid proposal. Information such as the loan amount, tenure and interest rate are sent with the proposal. On receiving the proposal, Lender/Borrower can take any of the four actions listed below:

  • Accept
  • Reject
  • Negotiate
  • Hold

On acceptance of proposal by both the parties, loan agreement signup takes place and the loan is disbursed.