Dear Xtra User,
As per the clarifications received recently, Xtra has undergone some changes from the end of our NBFC-P2P partner, Lendbox:
Flexi & Plus discontinued
All existing Flexi & Plus plans have been discontinued & your deposited amount will reflect in a single plan. This deposited amount continues to be mapped to multiple loans.
Repayments
You will receive principal and interest, as repayments are made by the mapped borrowers. This amount will be available for withdrawal on the 12th of every month. You will be able to see the expected repayment schedule on the MobiKwik app.
Click for a sample payout
New Investments
Fresh investments made after 16 August 2024 will be deployed as loans only after the borrowers are approved by you. You can review & approve the borrowers on the app. Please note, that the deposited funds will only accrue interest after you approve the borrowers
Please note, MobiKwik only acts as a channel partner for Lendbox and based on their requirements, the above changes have been implemented.
