How much is the processing fee?
There is absolutely no fee for the investors.
How can I select who I want to lend money?
Once the registration is complete, the investor can start to filter the borrowers using the Helios advanced filters. Loan listings are visible on the investor’s dashboard along with relevant financial and credit details of each borrower. Investors can use this information to make an informed choice to fund the borrower.
How are credit scores calculated?
Helios uses advanced analytics and its own proprietary model to risk rate the borrowers and assign interest rates which are made visible to the investor via the listings.
What happens after I select a borrower to fund?
Once the investors and borrower have reached a mutual agreement, we facilitate the signing of a legally-binding agreement between the borrower and the lenders. We use a tech-enabled, paper-less and presence-less process wherein the borrower and lenders sign the legally- binding agreement online. The agreement is available online on the borrower and investor’s accounts. They login to their respective accounts, read and understand the terms and conditions mentioned, “digitally sign” by clicking on the acceptance box under the agreement and the process is complete. The agreement is then sent to both the borrowers and lenders through email for their records. The process, though legally binding just like a physical agreement, is faster and more efficient ensuring faster flow of loan amount from lender to borrower.
How can I transfer money to the borrower?
Currently proof of payment has to be uploaded so that it can be verified through Helios that the investor has deposited the initial amount and that the borrower follows up on repayment. We are working on integrating a payment facility with our partners so that fund transfer can be facilitated through the Helios Platform itself
What date of the month I will receive my Equated monthly instalments (EMI)?
After the loan is disbursed, the Lender will receive Equated monthly instalments (EMI) based on the starting day of the loan.
How will I receive my Equated monthly instalments (EMI)?
The EMI will be transferred directly to the bank account given by you at the agreement.
What happens if I miss a repayment by the borrower?
If a borrower fails to pay an EMI within a stipulated time, a penalty is levied on the borrower which is payable directly to the lender.
What happens if the borrower stops the repayments?
If the borrower misses a scheduled repayment, Helios try to get in touch with him as soon as possible to discuss their current situation. We'll always try to be reasonable and help the borrower to get back on track. If we're still unable to recover the outstanding payments, we pass the account to our debt collection partner. The debt collectors will directly get in touch with you to update the situation. Debt collection fee will be 5% of totally recovered amount.