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K.M. Global P2P Finance Pvt Ltd. assessment primarily focuses on two key areas: the borrower's ability to repay and their intention to repay. To gauge these aspects, the following basic eligibility criteria are established
1. Age Requirement : The borrower must be at least 21 years old.
2. Nationality : The borrower needs to be an Indian national in possession of valid KYC (Know Your Customer) documents.
3. Income Sufficiency: The borrower must have a source of income sufficient to cover the loan's EMI (Equated Monthly Installment).
The underwriting process unfolds in a structured manner:
1. KYC Verification
2. Additional Documents:
The risk assessment is carried out by analyzing various facets, including:
1. Demographic Details : Insights into the borrower's personal information.
2. Professional/Employment Details : Information related to the borrower's occupation or profession
3. Income Details : . Evaluation of the borrower's income sources
4. Income and Expenditure Analysis : A detailed assessment of the borrower's financial inflow and outflow.
5. FOIR (Fixed Obligation to Income Ratio) Analysis: : Evaluating the borrower's capacity to manage loan obligations.
6. Repayment History : Reviewing the borrower's past loan repayment behavior.
In the disclosure and disbursement stage:
1. Terms of loan and Repayment Conditions : The terms of the loan and repayment conditions are presented to the borrower in advance, prior to making the loan available to potential investors or lenders.
2. Acceptance Record: The borrower's comprehension and acceptance of these terms are meticulously recorded.
3. Disbursement: Once the borrower confirms their acceptance of the terms, the loan amount is disbursed directly to the registered and verified bank account of the borrower.
K.M. Global P2P Finance Pvt Ltd.’s thorough underwriting process ensures that both borrowers and investors/lenders are informed and secure throughout the lending experience.