My Experience with LenDen – Please Be Careful Before Investing!
In my experience, the LenDen app’s lending process raises serious concerns. You invest your hard-earned money, and the platform deducts service charges while distributing repayments to you on a daily basis.
After a few months, when the loan is settled or repayments are stopped, the remaining balance may not be refunded as expected. This can leave investors facing unexpected losses.
The platform may earn service charges, while investors bear the risk of delayed repayments, defaults, and potential losses of their principal amount.
My advice: Read the terms and conditions carefully, understand the default and settlement policies, and check how outstanding balances are handled before investing.
Based on my experience, I am highly dissatisfied with the transparency of the repayment and settlement process. Please be cautious with your hard-earned money.
After a few months, when the loan is settled or repayments are stopped, the remaining balance may not be refunded as expected. This can leave investors facing unexpected losses.
The platform may earn service charges, while investors bear the risk of delayed repayments, defaults, and potential losses of their principal amount.
My advice: Read the terms and conditions carefully, understand the default and settlement policies, and check how outstanding balances are handled before investing.
Based on my experience, I am highly dissatisfied with the transparency of the repayment and settlement process. Please be cautious with your hard-earned money.
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SSB12345678998765321
Fraud Application
Very Disappointing Experience – Poor Transparency
The Len Den app fails to provide even the most basic and essential information about your investment. It does not clearly show the original amount invested, nor does it provide a proper breakdown of when, how, and why your money has been lost.
As an investor, I expect complete transparency and a clear transaction history to track my money and understand every deduction or loss. Unfortunately, the app falls far short of these basic expectations.
It is extremely frustrating to use a financial app that cannot provide a clear account of your own money. Showing the invested amount, current value, transaction history, and a detailed explanation of losses should be the bare minimum, not an optional feature.
The developers seriously need to improve the app’s transparency, reporting, and user experience. Until these fundamental issues are addressed, I cannot recommend this app to anyone who values clarity and accountability in their financial transactions.
The Len Den app fails to provide even the most basic and essential information about your investment. It does not clearly show the original amount invested, nor does it provide a proper breakdown of when, how, and why your money has been lost.
As an investor, I expect complete transparency and a clear transaction history to track my money and understand every deduction or loss. Unfortunately, the app falls far short of these basic expectations.
It is extremely frustrating to use a financial app that cannot provide a clear account of your own money. Showing the invested amount, current value, transaction history, and a detailed explanation of losses should be the bare minimum, not an optional feature.
The developers seriously need to improve the app’s transparency, reporting, and user experience. Until these fundamental issues are addressed, I cannot recommend this app to anyone who values clarity and accountability in their financial transactions.
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Gguttu007
My Opinion to change the repayment procedure
My investment experience with LendenClub has been very good. The investment process is smooth, and the returns are also was really good.
One suggestion: Please credit the returns to a LendenClub wallet instead of directly to the bank account. This will make reinvestment easier and help us track interest earnings for tax purposes.
If possible, please introduce this feature as soon as possible. Thank you!
One suggestion: Please credit the returns to a LendenClub wallet instead of directly to the bank account. This will make reinvestment easier and help us track interest earnings for tax purposes.
If possible, please introduce this feature as soon as possible. Thank you!
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HHarish_M53
Response from developer
Hi, thank you for your valuable feedback! As per RBI guidelines, repayments received from borrowers are transferred directly to lenders' bank accounts. Additionally, we provide detailed reports, including Earnings Reports, to help you track your total earnings throughout the financial year for tax purposes.
Good Platform, but NPA Tracking Needs Improvement
Why under closed loans in lumpsum, a clear picture is not provided? Overall if we see returns, it does not show how much fees was deducted..If i calculate overall returns, it can even go negative post npa and fees deduction. And you show as if we made a positive return.
The platform is okish, tracking NPA performance is unnecessarily difficult. The app clearly displays the interest earned and principal repaid, but there is no simple, prominent figure showing the total NPA incurred to date.
Users should be able to see a single NPA figure on the main dashboard, similar to how monthly principal and interest received are displayed. This would make it much easier to understand the actual portfolio performance and returns.
A clear and easily accessible NPA summary would significantly improve transparency and the overall user experience.
The platform is okish, tracking NPA performance is unnecessarily difficult. The app clearly displays the interest earned and principal repaid, but there is no simple, prominent figure showing the total NPA incurred to date.
Users should be able to see a single NPA figure on the main dashboard, similar to how monthly principal and interest received are displayed. This would make it much easier to understand the actual portfolio performance and returns.
A clear and easily accessible NPA summary would significantly improve transparency and the overall user experience.
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AAkhil91
Response from developer
Hi, we understand your concern. Please note that once a scheme is marked as closed, the applicable NPA details are reflected, while detailed information is also available in the reports. We’d like to understand your concern better and review your portfolio. Please write to support@lendenclub.com with your registered details, and our team will assist you further. Team LenDenClub
Very disappointing experience
I invested through Per Annum expecting a smooth and transparent investment experience. Unfortunately, my experience has been quite disappointing.
The biggest issue has been poor communication and lack of timely support. Getting clear updates regarding repayments and withdrawal of funds has been difficult, and responses to queries have not been satisfactory.
After going through the complete process, the returns were also much lower than what I expected, with very little actual gain considering the time the money remained invested.
Overall, I don’t feel the platform provided the level of transparency, communication, and service I expected. I would personally be very cautious before investing through Per Annum and would recommend doing proper due diligence first.
My experience: Not satisfactory.
The biggest issue has been poor communication and lack of timely support. Getting clear updates regarding repayments and withdrawal of funds has been difficult, and responses to queries have not been satisfactory.
After going through the complete process, the returns were also much lower than what I expected, with very little actual gain considering the time the money remained invested.
Overall, I don’t feel the platform provided the level of transparency, communication, and service I expected. I would personally be very cautious before investing through Per Annum and would recommend doing proper due diligence first.
My experience: Not satisfactory.
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SSanchit4051
Response from developer
Hi, We apologise for the inconvenience caused. We request you to kindly write to us at support@lendenclub.com with the details of your concern. Our team will review the matter and connect with you to assist you further. Team LenDenClub
