Short answer: A loan marketplace is worth using only if it is a transparent lending service provider for RBI-regulated banks and NBFCs, shows you comparable offers with the APR and all charges, never asks for upfront fees, and lets you walk away. FundsTiger, run by Gatimaan Finance Advisors Pvt. Ltd., works this way as a lending service provider for RBI-regulated lenders. Use the checklist below to judge FundsTiger or any other platform before you share your details.
Last updated: 13 October 2026.
Our 2023 version of this page listed reasons to choose FundsTiger. A borrower is better served by knowing what to check, so this 2026 rewrite explains how loan marketplaces work, what the RBI’s current rules require of them, and how to compare offers on cost rather than on marketing claims.
How a loan marketplace works
A loan marketplace does not lend its own money. It is a lending service provider (LSP) that partners with banks and NBFCs (regulated entities, or REs). You share your details once; the platform matches you with partner lenders whose criteria fit, shows their offers, and helps with documentation. The loan agreement, sanction, disbursal and recovery are the lender’s responsibility, and the lender’s name appears on your loan agreement and credit report.
- You enter basic details: income, employment, city, amount needed.
- The platform checks which partner lenders’ criteria you meet, sometimes with a soft credit check.
- You see matching offers and choose one.
- The lender does its own checks, issues a Key Fact Statement (KFS) and sanction letter, and disburses directly to your bank account.
- You repay the lender, not the platform.
What RBI rules now require of loan marketplaces
The RBI consolidated its digital lending rules in the Reserve Bank of India (Digital Lending) Directions, 2025, announced in this RBI press release of 8 May 2025. Key protections for borrowers:
| Rule | What it means for you |
|---|---|
| Multi-lender display (from 1 November 2025) | An LSP working with several lenders must show you all matching offers, with each lender’s name, amount, tenure, APR, monthly instalment and penal charges, so you can compare fairly. It must also disclose lenders that did not match |
| No bias or dark patterns | The platform must not push a particular lender through misleading design; ranking by a disclosed metric is allowed |
| Key Fact Statement | Before you sign, you get a KFS with the APR and all charges |
| Direct disbursal and repayment | Money flows between your bank account and the lender, not through the LSP’s pooled account |
| Cooling-off period | You can exit a digital loan within the initial cooling-off period by repaying principal and proportionate APR; the lender may keep a reasonable one-time processing fee |
| Public list of lending apps | Lenders report the apps they use to the RBI, which publishes a list of digital lending apps (DLAs) deployed by regulated entities |
| Grievance officer | The lender and the LSP must name grievance redressal officers on their website and app |
Our guide to RBI rules for borrowers covers these in more detail.
Checklist: how to judge any loan marketplace
- Named partner lenders: the platform should list the banks and NBFCs it works with. Verify each in our RBI-registered NBFC search.
- RBI’s DLA list: check the app against the RBI digital lending app list.
- No upfront fee: a genuine platform or lender never asks you to pay a fee into a personal account or UPI ID before sanction. Processing fees are deducted from the loan or charged by the lender as per the KFS.
- APR shown upfront: you should see the all-in cost, not just a monthly rate.
- Clear data use: consent for each use of your data, no access to contacts or photos, and a privacy policy that names who sees your information.
- Real company details: registered company name, address and a grievance officer you can contact.
- No guarantees: nobody can guarantee approval; lenders decide based on their own credit policies.
Warning signs of fake platforms are covered in how to identify a fraudulent online lending platform and why to borrow only from RBI-registered lenders. You can also check registered entities on the RBI’s Sachet portal.
How to compare offers: look at total cost, not the headline rate
Worked example: You need ₹2,00,000 for 24 months and see two offers.
| Offer A | Offer B | |
|---|---|---|
| Interest rate (reducing) | 14% | 13% |
| Processing fee | 2% + GST = ₹4,720 | 4% + GST = ₹9,440 |
| Monthly EMI | ₹9,603 | ₹9,508 |
| Total interest | ₹30,462 | ₹28,201 |
| Total cost (interest + fee) | ₹35,182 | ₹37,641 |
Offer B has the lower rate and EMI but costs about ₹2,460 more overall because of the higher fee. The APR in the KFS captures this. If you might prepay early, also compare foreclosure charges. Read APR vs interest rate and test tenures on the personal loan EMI calculator.
Before you apply anywhere
- Check your credit report so there are no surprises; see our credit report guide.
- Work out an EMI that fits your budget; most lenders want total EMIs below roughly half of take-home pay, often less.
- Keep KYC, salary slips or ITRs and bank statements ready; see the eligibility criteria and documents guide.
- Apply through one platform or one or two lenders at a time to avoid a cluster of hard enquiries.
- Read the KFS and loan agreement before accepting, and save copies.
When going direct may be better
A marketplace is a convenience, not the only route. Going straight to a lender can make sense if:
- Your own bank has a pre-approved offer based on your salary account; it may already be priced well.
- You have assets such as gold, fixed deposits or mutual funds; a secured loan is often cheaper than an unsecured one.
- Your employer offers a salary advance at low or no cost.
- You need a specialised product, such as a home loan balance transfer, where the lender’s own branch team handles valuation and legal checks.
Either way, the same rules apply: confirm the lender is regulated, read the KFS, and compare the total cost.
About FundsTiger
FundsTiger.in is operated by Gatimaan Finance Advisors Pvt. Ltd. as a lending service provider for RBI-regulated lenders: loans are sanctioned and disbursed by those lenders under their own policies. Alongside offer comparison, the site publishes free guides and calculators, such as our loan comparisons and lender directory, which you can use whether or not you apply.
Compare personal loan offers from RBI-regulated lenders in one place, with the APR shown before you choose.
Frequently asked questions
Does a loan marketplace give the loan itself?
No. A marketplace is a lending service provider. The bank or NBFC that sanctions your loan is the lender, and its name appears on your agreement and credit report.
Is it safe to apply through a loan marketplace?
It is safe if the platform works only with RBI-regulated lenders, shows the APR and KFS, never asks for upfront payments, and limits data access. Check the lender names on RBI’s lists.
Will checking offers on a marketplace hurt my credit score?
A soft check to show indicative offers does not affect your score. A full application to a lender usually triggers a hard enquiry, so avoid applying to many lenders at once.
Can a marketplace guarantee loan approval?
No. Approval depends on each lender’s credit policy and your profile. Be wary of anyone promising guaranteed approval.
What should I do if I have a complaint?
Contact the grievance officer listed by the lender or platform. If not resolved within 30 days, you can approach the RBI ombudsman through the RBI’s complaint management system.
Sources
Disclosure: FundsTiger (Gatimaan Finance Advisors Pvt. Ltd.) is a loan marketplace and lending service provider for RBI-regulated lenders. Aparampaar Finance Pvt. Ltd. (Omozing), one of those lenders, is a related party of FundsTiger. This article is general information, not financial advice. Read your loan agreement and KFS before you decide.