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About Plan B Credit
A Lending Service Provider connecting Indian borrowers with an RBI-registered NBFC partner.
Who we are
Plan B Credit is a digital Lending Service Provider (LSP) registered in India. We help borrowers apply for personal loans through our partnership with an RBI-registered Non-Banking Financial Company (NBFC).
Important: Plan B Credit is not a lender. We do not lend money or hold a lending licence. We are a Lending Service Provider acting on behalf of our NBFC partner. The actual loan is sanctioned and disbursed by the NBFC partner under their own credit policy.
What we do
We provide an online platform where borrowers can:
- Submit a personal loan application in 60 seconds
- Get a credit eligibility check (soft inquiry · no CIBIL impact)
- Have their file reviewed by our underwriting team within 24 business hours
- Receive a sanction letter and Key Fact Statement (KFS) from our NBFC partner if approved
- Get direct bank disbursal once they sign the loan agreement
- Track application status anytime via their reference ID
How we operate
- Transparency. APR ranges, processing fees, and tenure options are disclosed upfront. The final Key Fact Statement (KFS) is shared before any sanction.
- No hidden fees. Plan B Credit charges nothing to the borrower for application processing. Our revenue comes from our NBFC partner.
- Consent-first data sharing. We only share your data with the NBFC partner after your explicit consent.
- No coercive practices. We follow RBI's Fair Practice Code.
- Privacy. Your data is used only for processing your loan. We do not sell or resell to third parties.
Our NBFC partner
We have partnered with an RBI-registered NBFC licensed to provide consumer credit in India. The partner handles:
- Final credit underwriting and risk assessment
- Sanction letter and Key Fact Statement (KFS)
- Loan agreement signing
- Disbursal of funds to your bank account
- EMI collection and servicing
- Foreclosure / part-payment requests
The NBFC partner's name and details are disclosed in your sanction letter and Key Fact Statement at the time of loan approval.
Compliance & regulation
Plan B Credit operates under:
- RBI's Digital Lending Guidelines (DLG) for Lending Service Providers
- The Digital Personal Data Protection Act, 2023 (DPDP Act) for data handling
- Our NBFC partner's compliance framework, including RBI's Fair Practice Code
Get in touch
Questions about your application or our service? Reach out via:
Check application status →
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