Frequently Asked Questions
- About Rang De
- How does Rang De work?
- Investing on RangDe.in
- Repayments & Interest Rates
- NRIs & OCI card holders
Frequently Asked Questions
What is Rang De's mission?
Rang De is on a mission to revolutionize credit access and enable financial inclusion for every individual in India. We are focused on providing affordable and timely credit access to unbanked individuals in the country. To know more about us, visit rangde.in/about/our-story.
What is unique about Rang De?
Rang De is India's pioneering and only peer to peer lending platform focused on providing timely and affordable credit to unbanked communities.
Is Rang De a crowdfunding platform?
Rang De is not a crowdfunding platform. Rang De is an RBI regulated peer to peer lending platform.
Individuals lend money towards livelihood and education needs of communities. Individuals who receive
the
loans repay it as per a predefined repayment schedule. This can be either withdrawn or reinvested.
A crowdfunding platform on the other hand primarily raises donations and enables users to do the same
for
specific causes. Crowdfunding of donations is unregulated and does not come under the purview of any
regulator.
Is Rang De an NGO?
No, Rang De is not an NGO. Rang De is an RBI regulated NBFC P2P platform.
How does Rang De sustain itself?
Rang De has adopted a platform as a service business model. We earn our revenues through platform access fees paid by our impact partners. The impact partners pay a one time setup fee at the time of their onboarding and an annual recurring fee. The impact partners pay this fee to gain access to Rang De’s regulated credit platform for their communities. To know more about our impact partners, check rangde.in/faqs/who-are-impact-partners-what-do-they-do.
Is Rang De regulated by RBI?
Yes, Rang De is regulated by RBI.
How is Rang De different from existing P2P platforms?
Rang De provides credit access at the lowest rate, along with flexibility for the investees to choose exactly when and how much they want to borrow.
Have more questions?
How does the Rang De model work?
Social investors invest in an investee or fund of their choice. Each social investor invests an amount of their choice, starting with Rs. 100. Once a loan is fully funded through these investments, the funds are transferred directly to the investee's bank account. The investee repays the loan according to a repayment schedule, and the social investors receive these repayments in the form of Rang De credit in their dashboard. This credit can be reinvested or withdrawn to the social investor's bank account.
How does Rang De curate investees?
Rang De works with a network of impact partners across the country. These organizations identify individuals who need credit within the communities they work with. To know more about our impact partners, visit rangde.in/know-the-partner.
Who are Impact Partners? What do they do?
Impact partners are credible organizations across the country that work with underserved communities. They empower these communities through entrepreneurship training, capacity building, providing access to markets, and more. Their partnership with Rang De augments their work by providing credit access to these communities. To know more about our impact partners, visit rangde.in/know-the-partner.
How do I make an investment?
You can make an investment in 3 simple steps:
- Choose an investee or fund to invest in
- Enter an amount to invest
- Make the payment
You can find all investees and funds on rangde.in/invest
What are the payment options to make an investment?
You can pay using debit card, net banking, UPI, or any wallet such as Amazon Pay, Mobikwik, Phone Pe,
etc.
You can also make a payment using a credit card. However, this cannot be done directly- you have to
use
your credit card through any of your existing wallets such as Amazon Pay, Mobikwik, Phone Pe, etc.
What is the minimum investment I can make?
You can invest as little as Rs.100 on Rang De.
What is the maximum investment I can make?
You can invest upto Rs.50,000 in an individual investee. You can invest a total of upto Rs.50,00,000 across different investees or funds on the platform.
Where can I track my investments and repayments?
You can track all your investment and portfolio related details through your dashboard.
What is KYC? Why is it needed?
KYC (Know Your Customer) is the mandatory process of verifying your identity. RBI prohibits us to disburse your investment to any investee unless your KYC is complete. This helps us ensure that only verified social investors use our platform.
I can see many loans that are partly funded. Will all of them get fully funded?
Rang De ensures that 100% loans listed on the platform get fully funded. The loans are prioritized according to the urgency of the credit requirement of the investee.
How can I withdraw my money?
You can withdraw your money from your dashboard. to any Indian bank account. The money will be transferred to your bank account within 1 day. There are no extra charges for this process.
Do I receive a formal loan agreement for the investment made on Rang De?
Yes, you will receive a loan agreement for each of your investments. You may download the copy from your dashboard. View a sample copy of the loan agreement here.
How does Rang De ensure that I get my money back?
Rang De works with a set of credible and ethical community organizations or social enterprises called impact partners. These organizations identify communities engaged in sustainable livelihoods, but do not have access to institutional credit. They mentor these communities in effectively utilizing and repaying this credit, leading to an excellent repayment rate on Rang De. However, as per RBI regulations, we cannot guarantee any repayments on the platform. To know more about our repayment statistics, visit rangde.in/track-record
How much interest will I earn if I invest?
You can earn upto 10% flat per annum through your investments. Your returns vary across different investees and funds that you invest in- these are visible upfront in the investee or fund details before and during investment.
Are investments on the Rang De platform taxable?
Yes, the interest earned on investments made on Rang De are taxable in the year of receipt.
Rang De does not deduct any tax at source since the loans are on a peer to peer basis. We provide an
interest certificate at the end of each financial year, which will help you assess your tax liability.
We recommend that you consult your tax advisor to assess your tax liability.
Can I invest as an NRI or OCI card holder?
Yes, we accept investments from NRIs and OCI card holders. The investments must be made in Indian currency through an Indian bank account.
What are the KYC requirements for NRIs and OCI card holders?
You are required to either submit your Aadhaar card if you have one, or your PAN card along with a valid address proof (passport or OCI card)
What are the payment options for NRIs and OCI card holders?
We accept payments in Indian currency from Non Resident Rupee accounts maintained with Banks in India. RBI regulations do not permit us to accept payments from overseas Bank accounts or international cards issued overseas.
