Borrower FAQs
Q 1: Why borrow through Kuendruel.bt?
Kuendruel is an easily accessible platform. You can register and apply for loan from your smart phones or computers. The processes are very easy and user friendly. Most importantly you can get loans at rate as low as 12% per annum. We provide you dedicated and committed customer service and transparency.
Q 2: How do I start?
Simply click on the Register Now icon and register through the simple step by step process as instructed. Once you have filled the basic information required, paid the non-refundable registration fee and uploaded the documents required, Kuendruel risk assessment team will identity-verify, credit-check and risk-assess your profile. If qualified, your registration as a Borrower will be approved and you can apply for loan on the Kuendruel platform.
Q 3: Why the documents are required?
The documents are required to identity-verify, credit-check and risk-assess a borrower before registration. Apart from the CIBB report, we use various other parameters like ability, stability, past performance and intention of the borrowers, which are evaluated basis these documents. The documents provided like salary slips, bank statements, ITR’s, balance sheets etc. help in taking a collective and transparent decision ensuring a fair field for the borrower.
Q 4: Why do I pay registration fee?
The registration fee is for the time, effort and resources required to asses and verify each borrower by our automated credit rating model. It is onetime fee and with hat you have a life time membership on the platform. To renew your membership on the platform to continue using it, annually you have to pay a renewal fee of Nu.200 each. The failure to renew will lead to new registration where you will again have to pay Nu.1500.The fees are non refundable.
Q 5: How much can I borrow?
Depending on your loan requirement, for personal loan you can borrow from Nu.10,000 to Nu.200,000, and for business purpose you can borrow up to Nu.500,000.
Q 6: Will all the applicants get loan?
No, only the applicants who meet the credit score (minimum 650) and grade (B) will get the loan. The applicants who provide us the wrong information will be blacklisted for the particular year. So make sue to provide all the information correctly.
Q 7: Who will fund me?
As per the Kuendruel policy no single lender can fund the 100% requirement of the borrower. Hence, your loan will be funded by multiple lenders.
Q 8: Can I choose my monthly repayment date?
The repayment date can be decided between the Kuendruel team and the borrower. The date must from 1st to 15th of every month.
Q 9: Can I pre-pay my EMI? Can I repay my loan early? Are there any charges?
Pre-closure of loan can be done after three months from the disbursal of the loan without any additional charges. Prior to three months, to protect lender interest, pre-closure can be done after paying balance interest due to lenders for a period of three months from the date of disbursal. This is payable directly to Lenders. Kuendruel charges a one-time non-refundable pre-payment fees of Rs. 500/-.
Q 10: What interest rates can I expect to pay?
Our automated credit scoring model, which will use your personal and financial information to rate your credibility based on big data will suggest you the rates based on your credit score and grade.
Q 11: On what parameters doeskuendruel.bt verifies my profile and checks my credit worthiness?
The credibility of any borrower is assessed based two dimensions, willingness to pay and capacity to pay. Your credit worthiness will be judged on twelve parameters or data sets which will further break down into 150+ data points. All this will be done by our automated credit appraisal system.
Q1 2: Does Kuendruel do any physical verification?
Yes, physical verifications will be carried out by our risk management team. The time taken for the same will depend on the nearness of the applicant location.
Q 13: Does Kuendruel require references?
References regarding your employment and business activities are required. You will be required to provide three references to validate your personal, professional and business information.