What is LendingPlate Loan App?
LendingPlate is a digital personal loan platform that offers instant loans online. The company works with an RBI-registered NBFC (Vivriti Capital Pvt. Ltd.) to provide loans. Through the app, users can get ₹5,000 to ₹2,00,000 without heavy paperwork.
Key Features of LendingPlate Loan App
- Instant loan approval
- 100% paperless process
- Loan amount: ₹5,000 to ₹2,00,000
- EMI tenure: 3 to 24 months
- Fast loan disbursement directly into the bank account
- PAN + Aadhaar-based KYC
- User-friendly mobile interface
Who Can Apply for a LendingPlate Loan?
The loan is suitable for individuals who need quick financial support without complicated documentation:
- Salaried employees
- Self-employed persons
- Students with part-time income
- Small business owners
LendingPlate Loan Eligibility Criteria
To qualify for the loan, the following conditions must be met:
1. Age: 21 to 55 years
2. Citizenship: Must be an Indian resident
3. Minimum Income: ₹12,000–₹15,000 per month
4. Credit Score: 650+ preferred (but lower scores may still get approved)
5. Active Bank Account required
Documents Required for LendingPlate Loan
- Aadhaar Card
- PAN Card
- Recent Selfie
- Bank Statement (last 3/6 months)
- Salary Slip (for salaried applicants)
LendingPlate Loan Interest Rate & Charges
Here are the interest rates and fees charged by LendingPlate:
- Interest Rate: 18% to 36% per annum
- Processing Fee: ₹100 to ₹2,000 (depends on loan amount)
- GST: Applicable on processing fee
- Late Payment Charges: ₹100–₹500 per day/month
- APR: 24% to 36% approx.
How Does LendingPlate Loan Work?
The app uses an AI-based system to verify your KYC and analyze your bank statement. After verification, your loan eligibility is decided. Once approved, the loan amount is disbursed to your bank account instantly.
How to Apply for a LendingPlate Loan? (Step-by-Step Guide) 👇🏻👇🏻
Step 1: Download the App
- Install the LendingPlate Loan App from Google Play Store.
Step 2: Register with Mobile Number
- Enter your mobile number and verify with OTP.
Step 3: Complete KYC
- Upload Aadhaar, PAN, and complete selfie verification.
Step 4: Upload Income Proof
- Submit bank statements or salary slips.
Step 5: Choose Loan Amount
- Select the required loan amount.
Step 6: Select Loan Tenure
- Choose repayment duration from 3 to 24 months.
Step 7: Submit & Receive Loan
- After approval, the amount is transferred to your bank account.
How is Loan EMI Calculated?
- EMI depends on:
- Principal loan amount
- Interest rate
- Loan tenure
- Longer tenure = lower EMI, but higher total interest.
Is LendingPlate Safe?
- Yes. LendingPlate works with RBI-registered NBFC Vivriti Capital, making it a legitimate and secure loan provider. The app uses encryption to protect user data.
Advantages of LendingPlate Loan
- Quick approval
- Minimal documents required
- Loans available even with low income
Flexible EMI options
- Disadvantages of LendingPlate Loan
- Higher interest rate compared to banks
- Penalty for late EMI is high
- Shorter tenure means higher EMI
LendingPlate Customer Care
- Email: support@lendingplate.com
- Website: www.lendingplate.com
- Available on Google Play Store
Frequently Asked Questions (FAQs)
1. Can I get a loan without a salary slip?
- Yes, bank statements can be used as income proof.
2. Is LendingPlate a safe loan app?
- Yes, it is partnered with an RBI-registered NBFC.
3. How fast is loan disbursement?
- Within 5–10 minutes after approval.
4. Will I get a loan with a low CIBIL score?
- Yes, but the interest rate may be higher.
