Lendbox Complaints & Reviews

I have invested with lendbox for the past 1 year. I work in Recovery Profile for IDBI Bank. I have experience of sourcing, sanctioning and recovery process of Credit Facilities even of smaller values like Rs.20, 000 given as KCC/JLG/SHG and higher value of MSMEs like 20 Crore.
Lendbox is one of the worst form of model as lender & recovery professional in action to trust your hard earned money with. They source loans through digital channels and other lending partner, without conducting proper due diligence, basically their relationship manager will reach out to you with a convincing lustful pitch of 30% return and convert the unsecured advances to a secured assuring pitch by claiming that “security cheques" are deposited, KYC, suit filing, robust legal team, collection agencies etc…
Practicality the RM has no idea of the quality of loans available in the portal and recovery actions. Incomplete KYC (borrowers go missing), inadequate collection process (they wait out for your mail to collect EMIs), Non compliance of tagging of defaulters as SMA & NPA as per IRAC norms. No recovery action in the form of basic action such as “Loan Recall Notice” or “Money Suit" filing in the Civil Court or action “U/S 138 of Negotiable Instruments Act" for security cheque bounce which attracts arrest warrants or FIR in the local police station for incorrect KYC with the intention tl defraud public money/wiful defaulter. This are the basic recovery actions under RBI guidelines. They lack the basic judgement of it even.
I didn't got back my principal money even. My return in portfolio is 56.615% of my principal amount.

It's just sheer negligence on the act of lendbox with public money. There are money who lost their money with P2P platforms kindly aware others of the risk such platforms carry and how their negligence can cost you your hard earned and there is zero accountability on their part.

Neither I have taken any loan from them nor i have any financial relation with this company.
But in my credit report it showing trasaction.
TRANSACTREE-694526

Please help me to stop this fraud.

More than 35 days back I got to know from my Report that, i am a loan defaulter and i have taken a loan from TRANSACTREE which is completely irrelevance to me. Neither I have taken any loan from them nor i have any financial relation with this company.

Transaction showing against the ID :- TRANSACTREE-XXXX6

I have already raised this to CIBIL and i am going to raised this complaint to RBI as well. CIBIL Transunion...

Lendbox,

Despite so many reminders (Telephonic as well as mails), even after getting your apr 2018 emi on 17 april 2018 through transfer from my side due to negligence from your lazy team of not to represent emi on actual time, your team again represented emi on 20 apr 2018 without any information due to this bank has again imposed a penalty amount rs 973.

So kindly refund my penalty amount of rs 973 asap for future emi smoothness. If your team further represent emi then all penalties will be included in your total dues amount from the starting of ecs return.

My banking is being hampered by your lazy team. If your team does not refund my penalty amount or respond to this mail within 2 working days, then i will consider this mail as final mail.

For more detail, kindly refer the trailing mail.

I am wondering how you could be such a fraud, cheater to not accept your fault.

Regards,

Raja bharti
[protected]

— forwarded message —
From: lendbox emi
Date: fri, apr 20, 2018 at 2:57 pm
Subject: lendbox april'18 emi 10 days overdue - pay asap
To:

Borrower

Your emi for april'18 to lendbox is 10 days overdue - pay asap or risk being reported to cibil

Name: transactree technologies private limited

Bank: yes bank

A/c: [protected]

Ifscode: yesb0000236

Type: current

—
Emi team
Lendbox
+[protected]/36
Media coverage : 4 fintech startups to watch out for | et | deccan chronicle | business standard | bloomberg | financial express | ft

Founding member of global fintech association

Speaker at world web forum 2016, zurich

— forwarded message —
From: raja bharti
Date: wed, apr 18, 2018 at 6:25 pm
Subject: fwd: lendbox april'18 emi 2 days overdue - pay asap
To: lendbox support, lendbox emi, lendbox disbursement

Dear team,

Payment has been done so kindly refer the trailing mail and acknowledge the same with 0 missed payment asap..

Also stop sending this irrelevant till the issue exist.

Note: all payment has been done as agreed except few emi which was bounced due to wrong date emi represent from lendbox in past as well as present. So kindly mark the same point and update all my payment with 0 missed payment in cibil also. So there will be smoothness at the time of loan closure.

Regards,

Raja bharti
[protected]

— forwarded message —
From: lendbox emi
Date: wed, apr 18, 2018 at 4:52 pm
Subject: lendbox april'18 emi 9 days overdue - pay asap
To:

Borrower

Your emi for april'18 to lendbox is 9 days overdue - pay asap or risk being reported to cibil

Name: transactree technologies private limited

Bank: yes bank

A/c: [protected]

Ifscode: yesb0000236

Type: current

—
Emi team
Lendbox
+[protected]/36
Media coverage : 4 fintech startups to watch out for | et | deccan chronicle | business standard | bloomberg | financial express | ft

Founding member of global fintech association

Speaker at world web forum 2016, zurich

— forwarded message —
From: raja bharti
Date: tue, apr 17, 2018 at 7:23 pm
Subject: fwd: lendbox april'18 emi 2 days overdue - pay asap
To: lendbox support, lendbox emi, lendbox disbursement, lendbox underwriting

Lendbox,

I have checked with bank where bank has confirmed that the lendbox (Transactree technologies etc.) represented emi on my account on following dates (9th april 2018, 10th april 2018 and 16 april 2018) as despite original date of 15th of each month, which is also acknowledged by your executive mr sourabh[protected]. Already i have mailed you all the required details from the 1st bounce on mail as well as on phone with mr. Sourabh. Your team with a lazy coordination did not respond to any single mail or telephonic way for that. So due to this bank has debited a penalty amount of rs 2919 (973+973+973) of 3 bouncing which is solely caused due to negligence of lendbox (Transactree technologies etc.)

Even if you say your (Transactree technologies etc.) not mention with ecs return name so its banking structure, you can ask icici bank to add company name over there in place of name of ecs return. Also you can refer my previous year mails as your team has done same mistake so man times despite too many reminders.

I am wandering on a such platform how could be you such a liar to not accept your mistake which is also done in past as well as present.

Finally i have paid emi of apr 2018 of rs 884 (Actual emi amount rs 3803 - rs 2919 total ecs return due to negligence of lendbox (Transactree technologies etc.)

For your reference i have also attached payment slip so kindly find the attachment.

Kindly acknowledge payment of apr 2018 emi with 0 missed payment asap.

Regards,

Raja bharti
[protected]

On tue, apr 17, 2018 at 3:40 pm, lendbox support wrote:
Sir

These have not been done by lendbox

We did not pull your funds from your account on the dates you’ve mentioned

Your auto debit on 16th did bounce however

Even your bank statement does not show any auto debit from transactree on 9th and 11th

Please pay your emi asap as now any audit debit charges post 15th april will not be lendbox’s liability

On fri, 13 apr 2018 at 7:14 pm, raja bharti wrote:
Lendbox,

Your team represented emi of apr 2018 twice on 10 apr 2018 & 11 apr 2018 as my original emi date is 15th of each month, due to this my ecs got bounced on 10 april 2018 & 11 apr 2018 respectively so for this bank has debited a ecs return charges of rs (973+973) total rs 1946 in current month april 2018. Due to this my banking is being hampered regularly due to poor & lazy working coordination from your team.

So kindly refund this ecs return charges of rs 1946 asap.

Refer to your previous replies. Your all responses are too weak, if your team doesn't refund or respond within 14th of april 2018 then in this scenario i will maintain a remaining balance of rs 1900 accordingly if your team further represent full emi amount emi on 15 apr 2018 then i will not liable for any single penalty as solely caused due to negligence from lendbox. And your team will have to update my cibil record with zero missed payment as agreed in previous mail.

Also confirm this kind of irrelevant activity would not be repeated in future.

Note: ask your team to represent emi on actual 15th of each month. Stop sending this reminder mail till the original emi date.

Regards,

Raja bharti
[protected]

— forwarded message —
From: raja bharti
Date: wed, apr 11, 2018 at 5:04 pm
Subject: fwd: lendbox april'18 emi 2 days overdue - pay asap
To: lendbox support, lendbox emi, lendbox disbursement

Lendbox,

Your team represented emi of apr 2018 on 10 apr 2018 as my original emi date is 15th of each month, due to this my ecs got bounced on 10 april 2018 so for this bank has debited a ecs return charges of rs 973 in current month april 2018. Due to this my banking is being hampered regularly due to poor & lazy working coordination from your team.

So kindly refund this ecs return charges of rs 973 asap.

Refer to your previous replies. Your all responses are too weak, if your team doesn't refund or respond within 14th of april 2018 then in this scenario i will maintain a balance of rs 2830 accordingly if your team further represent full emi amount in emi apr 2018 then i will not liable for any single penalty as solely caused due to negligence from lendbox.

Also confirm this kind of irrelevant activity would not be repeated in future.

Note: ask your team to represent emi on actual 15th of each month. Stop sending this reminder mail till the original emi date.

Regards,

Raja bharti
[protected]

On wed, apr 11, 2018 at 4:22 pm, lendbox emi wrote:
Borrower

Your emi for april'18 to lendbox is 2 days overdue - pay asap or risk being reported to cibil

Name: transactree technologies private limited

Bank: yes bank

A/c: [protected]

Ifscode: yesb0000236

Type: current

—
Emi team
Lendbox
+[protected]/36
Media coverage : 4 fintech startups to watch out for | et | deccan chronicle | business standard | bloomberg | financial express | ft

Founding member of global fintech association

Speaker at world web forum 2016, zurich

—
Happy lending
Team lendbox
+[protected]/36
Media coverage : 4 fintech startups to watch out for | et | deccan chronicle | business standard | bloomberg | financial express | ft

Founding member of global fintech association

Speaker at world web forum 2016, zurich