KEY TAKEAWAYS

1. Lendbox's Sahukar platform modernizes the traditional concept of moneylending in India by offering a structured and regulated environment for lenders and borrowers, with features like detailed dashboards and flexible borrower selection.

2. The platform allows lenders to add borrowers, choose preferred borrowers, and set customizable lending rates ranging from 12% to 36% per annum, providing a personalized lending experience.

3. Lendbox charges a lending fee on deposited funds, and the platform offers detailed analysis through on-demand reports and filters to select appropriate borrowers based on various criteria.

4. The P2P lending industry in India faces significant challenges due to stringent RBI regulations, leading to a slowdown in the sector, with assets managed through P2P platforms dropping significantly.

5. The future of P2P lending in India remains uncertain as platforms navigate regulatory hurdles, and it is yet to be seen if Lendbox's innovative approach can help sustain the industry amidst these challenges.

The concept of ‘sahukars’, i.e. moneylenders, is as old as time in India, dating back to hundreds of years ago. But with stricter laws and regulations coming into the picture, especially on unregulated moneylenders, the concept of sahukars has been fading away and the modern and more organized lending through banks, NBFCs and fintechs taking the centre stage.

But, in a bid to keep this concept alive, there seems to be a one of its kind feature being offered by one of India’s biggest P2P lending platforms Lendbox, named ’Sahukar’. Here’s the link to the platform-https://app.lendbox.in/sahukar

So, what exactly does this Sahukar platform offer? Well, today we are deep diving into this to give you a fair idea about how this feature of Lendbox works, and how it helps moneylenders, especially at a time when India’s P2P lending industry is already struggling to survive amid strict RBI regulations.

Key Features Of Lendbox’s Sahukar Platform

Firstly after signing up, you need to sign declaration as a lender, as shown below.

Detailed Dashboard

Here’s how your dashboard looks like once you login. Details such as total loan amount disbursed, outstanding EMIs, current EMI due, principal outstanding, total investors, etc are displayed.

Flexibility To Add Borrowers As Per Your Choice

As a lender, you can even add borrowers by filing the registration form.

You can also choose among a list of borrowers to whom you want to lend, you can opt for ‘manual lending’ feature which enables you to choose the preferred borrowers to whom you want to lend your money. You can also search them by filling in their names too, if you know a specific borrower that you know on the platform, who is in need of funds.

Even a single borrower can apply for multiple loans of different or same amounts.

Detailed Analysis Through On-Demand Reports

There’s this feature to fetch various detailed reports as well. All you need to do is request for it, and then Lendbox sends them on mail.

Filters To Select The Appropriate Borrower

And that’s not all. You can even filter out borrowers on the basis of loan amount, purpose of loan (medical, education, business funding, wedding, property purchase), credit score, tenure, monthly income, etc.

Choose The Rate At Which You Want To Lend

Lendbox’s Sahukar platform also gives you the ability to choose the ROI for the loan you are giving to the borrower, which can range from 12%-36% p.a.

Fetch The Repayment History Of The Borrower

Besides checking their credit score, if you need more clarity on a borrower’s details and repayment history before lending to them, you can check out their detailed profile on the Sahukar Platform, from loan details, past repayment history, status of verification of KYC, etc.

What does Lendbox Get By Offering This ‘Sahukar’ Feature?

Lendbox charges two types of fees:

1. Servicing fee of upto 5% of the deposit amount (from the lender), as per T&Cs mentioned in Lendbox pricing policy.

   

   We checked Lendbox’s pricing policy, this is what it mentions (attached screenshot)

2. Lending fee on the deposited funds, subject to a minimum of ₹20 + 18% GST.

Who Should Use This Sahukar Platform?

Now comes the question, who all should use this platform? How can it be useful? Well, given that moneylending is something that a lot of people keep doing in some form or the other but in mostly informal and unregulated form, here’s how this platform can be helpful:

• If you are someone who lends money maybe to shopkeepers or farmers, rural households, or small businesses in an informal and unregulated form, without any legal documentation and structure, this can lead to disputes, losses or even frauds. This is where using platforms like this Sahukar one can bring the much-needed regulation and structure when you are doing moneylending.

• As a moneylender, using this Sahukar platform will not make you give up on the returns you get upon lending to borrowers in an otherwise informal structure. The platform enables you to still have the option to choose an ROI as high as 12%-36% p.a., and thus charge much higher rates than formal lending institutions like banks and NBFCs. So, you can enjoy the high interest rates as a lender along with the regulations and formal structure through this platform.

A Tough Past, An Uncertain Future: The Story Of P2P Lending In India

Despite coming under RBI’s regulations since 2017 and g the Reserve Bank of India (RBI) issued directions for peer-to-peer (P2P) lending platforms, The last one year has been a tough pill to swallow for India’s P2P industry. The industry has seen some tough decisions and regulations, especially a recent guideline in August 2024.

As per a recent report in Economic Times, the P2P lending sector has experienced a significant slowdown, with the total assets managed through P2P lending platforms plummeting from approximately Rs 10,000 crore a year ago to around Rs 3,000 crore at present. Let's look back at the turning point that came in August 2024.

• On 16th August 2024, the RBI had released tough guidelines for the P2P industry, making the regulations crystal clear to stop all the creative interpretation that various P2P platforms were doing. At that time, a new guideline from the RBI had introduced the T+1 settlement. Previously, platforms had no set time to deploy investor funds. Now, once funds are in the escrow account, they must be transferred to borrowers or returned to lenders. Repayments must also be transferred back to the lender's escrow and then to their bank account within a T+1 timeline. Many P2P lenders have since then found this challenging due to the short timeframe to find borrowers. You can read our detailed blog about this circular here.

• And that’s not all. Earlier this year in January 2025, the RBI intensified its scrutiny of P2P lending platforms by seeking qualitative details about their operations, months after revising guidelines for these firms. India’s central bank had sent a comprehensive questionnaire to eight financial technology companies in the P2P lending space. You can read more about that through this report.

• Even as recently as in March 2025, the RBI had reportedly imposed a series of monetary penalties totaling nearly Rs 77 lakh on four P2P lending platforms for disbursing loans without the specific approval of individual lenders.

As far as the future is concerned, it’s fair to say that it is indeed uncertain. The back-to-back tough guidelines by the RBI are making it more and more tougher for India’s P2P lending platforms to survive and cope up. Now it remains to be seen whether this industry lives to tell the tale in future, or whether it soon succumbs to the continuous pressure by the RBI.

Conclusion

It’s fair to say that Lendbox's Sahukar platform offers a modern twist to the traditional concept of moneylending, providing a structured and regulated environment for lenders and borrowers. With features like detailed dashboards, flexible borrower selection, and customizable lending rates, it empowers lenders to make informed decisions.

However, the P2P lending industry in India faces significant challenges due to stringent RBI regulations, which is leading to a slowdown in this sector. As the future of P2P lending remains uncertain, platforms must navigate these regulatory hurdles to survive. Whether Lendbox's innovative approach can help sustain the industry and also assist people who are lending money in informal and unregulated form, is something which remains to be seen.

Please note that this is an opinion blog and not an official research or investment advice. This blog aims to help retail investors make an informed decision when thinking of P2P lending sector. The blog neither encourages nor discourages you from investing in any particular platform or any asset class.

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