Credit Assessment Policy
1 Finance P2P leverages a technology-driven credit underwriting process, which incorporates advanced data analytics and multiple borrower touchpoints to evaluate eligibility and risk. The assessment primarily focuses on two dimensions:
- Ability to repay – ensuring the borrower has sufficient and stable income to meet loan obligations.
- Willingness to repay – evaluating behavioral and historical data to determine intent.
Eligibility Requirements
To qualify for a loan on the platform, a borrower must:
- Be 21 years or older
- Be an Indian citizen with valid KYC documentation
- Have a verifiable and regular source of income sufficient to service the proposed EMI
Underwriting and Verification Process
KYC Validation
- Collection of proof of identity, proof of address, and a live selfie
- Verification of these documents against the central KYC (cKYC) database for authenticity
Additional Documentation
- Submission of bank statements and financial records
- Retrieval and analysis of credit bureau reports
Risk Profiling and Analysis
The borrower's risk profile is developed by evaluating a wide range of factors, including:
- Demographic background and stability indicators
- Employment history and professional details
- Income sources and spending patterns
- Fixed Obligation to Income Ratio (FOIR) assessment
- Credit bureau insights on repayment track record and defaults
Disclosure and Loan Disbursal
- Prior to loan sanction, the loan terms, repayment schedule, and obligations are transparently shared with the borrower
- The borrower's explicit acknowledgment and consent is digitally captured before processing
- Once accepted, funds are transferred only to the borrower's registered and verified bank account
Contact & Communication
For more information or clarifications, please contact:care@1financep2p.com
Website:www.1financep2p.com