MobiKwik
MobiKwik
Paisa Bana Powerful
Watch your money grow
Earn high returns
Start investing with ₹1000Flexible Lock-ins
With early withdrawal feature2L+
Growing Investor Community₹6122 Cr+
Money Invested100%
Withdrawals honoredData as of Apr 04, 2024
Super Safe
Your money is safely invested via RBI-licensed peer-to-peer NBFCsPeer to Peer(P2P) Lending is a technology platform which allows participants to lend and borrow money, cutting out the traditional bank in between.
With technology intervention and smart algorithms, P2P lending companies are able to give small ticket loans for shorter tenure to high creditworthiness borrowers. Investment of as small as Rs 1000 can be distributed to more than 100 borrowers with the use of technology hence diversifying risk. The interest income earned from borrowers are distributed back to investors.
Transactree Technologies Pvt Ltd is governed by RBI and regularly audited. In addition, MobiKwik also supervises these investments.
Combined experience of 10+ years in digital lending.
100% of the users have earned returns upto 14% p.a. so far
Zero manual intervention both in investments and while making withdrawals. Free to transact at your convenience.
We can show screens instead.
Download MobiKwik App
Complete the KYC registration process
Click on Xtra
Start your investment journey and earn daily interest
Xtra is an investment option that offers you the opportunity to earn upto 14% p.a. by lending directly to creditworthy borrowers. This is done via an RBI-regulated peer to peer investing platform, Lendbox (Transactree Technologies Pvt Ltd)
Hundreds of data points of income and expense behavior are assessed before selecting borrowers to whom money will be lent. Investors’ funds will be split into chunks as small as Rs. 1000 and distributed between lakhs of borrowers. This mitigates risk and diversifies investments.
Any Indian above 18 years (resident or non-resident) or company with an active PAN Card and Indian bank account can invest with Lendbox. NRIs can also invest in Xtra via their NRO bank account.
No, Xtra does not charge any investment fee or commission for deposits.
As with any lending initiative, there are some risks- the biggest one being that a borrower doesn’t repay. We along with lendbox ensure that we keep the risk to a minimum, by ensuring that every borrower your money is lent to is identity checked, credit-checked, and risk-assessed on numerous parameters. Your investment is also diversified across multiple borrowers to minimize risk as much as possible, and all of the borrowers have to sign the legally binding loan agreement. In case of a default, we use legally-compliant collections agencies to follow-up and collect missed payments on your behalf. If a borrower ends up defaulting even after the recovery process is initiated, Lendbox and MobiKwik will earn no income till you get your indicated returns back. Do reach out to us after you’ve read the terms & conditions and have questions before you make your first investment.
Your money is routed directly through the escrow (3rd party) bank account which is managed by an independent trustee and money can be used only to lend to the borrowers.
While there is no guarantee of upto 14% per annum, Lendbox risk analysis has proven that this number is probable as the risk of default from creditworthy borrowers of Lendbox is very low. We closely work with our partner in assessing their risk models periodically and ensure low risk for investors.
If you have already completed KYC with MobiKwik, no extra documentation is required. If not, you only need to perform PAN and Aadhar-based KYC to begin investing with Xtra.
The details you provide are used to verify your account. This is important as this account is where your invested amount along with the interest earned will be credited. Also, your details are required to ensure that the name on your bank account matches with the provided KYC details as you can only make investments in your own name.
We’ve stopped accepting any new investments in Flexi, our any-time withdrawal product. Don’t worry your existing investments in Flexi or Plus are the same as before. You will keep earning the same benefits as before until you withdraw from Flexi or the investment matures from Plus, in which case it will be transferred to the undeployed funds section from where you can either withdraw or invest in the new plans of Xtra Plus.
After the payment is successful, it takes upto 48 hours for the interest to reflect in your portfolio.
Interest earned on your investments is not reinvested. Earnings are added on a daily basis to your account and are available to withdraw based on the investment plan.
Interest income earned is taxable as per your income’s tax slab and is classified under ‘Other income’. Tax will not be deducted at source, i.e., we will not deduct tax when you withdraw your money
Transactree Technologies Pvt Ltd (Lendbox) shall issue an interest certificate declaring the interest earned by user during each financial year, and this will be available on Xtra dashboard for the user to download. Paying the applicable tax on income earned is the user's responsibility and MobiKwik or Lendbox is not liable for any default on the same.
You see an error because online verification of the bank account holder's name has failed against your KYC documents available in the system. Please share a copy of your self-attested bank account statement or canceled cheque leaf with the name of the account holder printed on it along with your KYC documents to xtra@mobikwik.com for our team to verify and update your bank account details.
You can start your investment with a minimum of Rs. 1,000 and go upto Rs. 10 lacs. If you want to increase your investment beyond Rs. 10 lacs, you can request for Account Upgrade from the app. As per RBI guidelines, for anyone investing above Rs. 10 lacs, a net worth certificate will be required. Post verification of the net worth certificate, the maximum investment limit can be Rs. 50 lacs
You can make payment via UPI, Netbanking or transfer funds to your dedicated virtual account number via IMPS/NEFT/RTGS. Via UPI you can transact for upto Rs. 1 Lac. Payment via credit card is not allowed by RBI for P2P investments. Via IMPS/NEFT/RTGS mode, once successful transfer is done, you will be required to submit the transaction reference number/UTR of the transaction for mapping the investment to the respective Plus Plan. Incase of incorrect UTR submission or delay in UTR submission, the investment will go to undeployed funds by default. You can then transfer your funds from undeployed to the respective Plus Plan
Any amount debited from your bank account in such a scenario will be automatically refunded back into the source account within 3-7 working days.
This could happen if the amount you are trying to invest is more than the third party transaction (TPT) limit set by your bank account or you have not registered for TPT facility with your bank. In both cases, you can connect with your bank to resolve this.
This could happen if you have exhausted your daily UPI transaction limit, which is Rs. 1 Lac for most banks and lower for some others. In the case of the new UPI setup on MobiKwik, the initial transaction limit is Rs. 5000 or lower so higher amount transactions will not go through.
For every user there is a unique system generated Virtual Bank Account. You can add this account as a beneficiary in your default bank account and make IMPS/NEFT/RTGS based transfers. Any deposit into this Virtual Bank Account is by default mapped to the undeployed funds section on Xtra dashboard which can then be transferred to any of the Plus plans to start earning interest. Only if you submit the transaction reference number/ UTR of the successful bank account transfer in the payment flow the investment will be mapped to the respective Plus Plan in your portfolio. Please be very careful while adding the account number and sharing the transaction details/UTR as any inaccuracy will lead to failure of automatic mapping of the amount to your Xtra account and will need to be manually resolved after you share the correct details. This manual mapping effort may take upto 7-10 business days and will lead to loss of interest for you.
It takes upto 30 minutes for the partner to update the portfolio once the correct transaction details/UTR are shared by you. If your amount is still not updated in the portfolio please reach out to us at xtra@mobikwik.com with your transaction reference number and proof of transaction from your bank account. Successful transaction screenshot or a debit transaction from your bank statement is treated as a proof of transaction for our team to help resolve your issue.
No fees or charges are applicable for withdrawal from Flexi mode of investment.
On maturity, the amount (principal + interest) earned in Xtra Plus can be reinvested or transferred to your primary bank account. If you wish to withdraw funds from Xtra Plus on maturity, please change the “On maturity” preference to “Transfer to Bank” from the Ongoing investment section on Xtra dashboard.
The time taken to process the withdrawal and receive funds in your bank account depends on when the request has been submitted. If the withdrawal request is submitted on a working day before 4 PM, then the amount will be processed by the end of the same working day. However, if the withdrawal request is submitted after 4 PM on a working day or on a non-working day, then the amount will be processed on the next working day. Please note that all withdrawals are processed on a best effort basis once your loans are sold to the next investor in line.
No, you can only make one withdrawal request at a time. Till a previous withdrawal request is processed, a new withdrawal request cannot be placed.
Any user with invested amount equal to or above Rs. 8 Lacs will be provided an option to upgrade their account. To unlock higher investment limits, users are required to furnish a proof of networth of Rs. 50 Lacs.
A networth certificate is an official document generated by a practicing Chartered Accountant certifying that an individual has a certain minimum net value.
You can apply for account upgrade by submitting asset documents that show a minimum net worth of Rs. 50 Lacs. Documents such as bank statements, investment portfolios, NSDL statements, etc that show assets clearly belonging to you are treated as an asset document. Once your documents are received, they will be reviewed by a practicing Chartered Accountant. The CA after verifying and approving the documents generates an official net worth certificate, post which your investment limit is increased to Rs. 50 Lacs. If the documents are not approved, you will be able to see the updated status of your account upgrade request as rejected and option to upload a more recent, clear and valid document.
Your documents will only be used to review your net worth and upgrade your account. During this process, they will be encrypted with limited access to the reviewers, in short, your documents will be completely safe and will not be used for any other purpose.
In case your portfolio value exceeds Rs. 10Lacs, the extra amount will move into the “Undeployed Funds'' section on the app. This amount will not generate you interest and can be withdrawn to your bank account. Alternatively, you can upgrade your investment limits to Rs. 50 Lacs and invest the additional funds to start generating interest.
In case your portfolio value exceeds Rs. 10Lacs with the additional transaction, the entire amount of the transaction will move into the “Undeployed Funds'' section on the app. This amount will not generate any interest and can be withdrawn to your bank account. Alternatively, you can upgrade your investment limits to Rs. 50 Lacs and invest the additional funds to start generating interest.