Tera FAQ’s

13Karat is an Invest-Tech platform owned by Sqrrl Fintech Pvt. Ltd. It has entered into an agreement with RBI-registered P2P NBFCs namely Lendbox and RupeeCircle that have the necessary licenses to conducting Peer to Peer (P2P) lending activities. Through proprietary technological solutions, 13Karat streamlines the process of investing in the offerings of P2P NBFCs, allowing users to potentially earn returns of up to 13% per annum. However, it is important to note that this facilitation does not constitute investment advice or a recommendation to invest in any specific scheme(s) of P2P NBFCs.

It is pertinent to note that any investments made on the 13Karat platform are subject to the policies, terms, conditions, and regulations stipulated by the respective P2P NBFCs.

The funds invested through 13Karat will be deployed in the schemes of RBI-registered P2P NBFC namely Lendbox and RupeeCircle. The invested amount will go to a hyper-diversified pool of borrowers sourced by these P2P NBFCs in terms of applicable RBI regulations.

The NBFCs with whom 13Karat platform has an arrangement will assess data points related to income and expense behavior before selecting borrowers to whom they shall lend your money. In compliance with applicable regulations, P2P NBFCs shall divide funds into small chunks and distribute them among a pool of their borrowers. This approach helps mitigate risk and diversify investments.

Anyone in India who is 18 years or older, whether resident or non-resident, with an active PAN Card and an Indian bank account, can invest through 13Karat. NRIs can also invest through their NRO bank account. 13Karat platform will also be accessible to corporates in the near future.

No, we don’t charge any fee or commission for investment through 13Karat.

Your money is only routed through the 13Karat investment platform and goes directly to the escrow bank account managed by an independent trustee appointed by RBI-regulated P2P NBFCs from where it will be used by P2P NBFCs to lend to the borrowers and cannot be accessed for any other purpose.

While we cannot guarantee returns like an oracle, our diligent analysis and assessments indicate that, if a person invests and remain invested in the scheme(s) of P2P NBFCs for the specified duration, there is a promising probability of achieving returns of up to 13% p.a. However, this shall not be construed as any assurance or guarantee on the part of 13Karat and investors shall carry out their own independent analysis or consult their advisors.

To start investing you only need to complete a PAN and Aadhar-based KYC process.

Your bank account details are necessary to verify your account and ensure a seamless investing experience. They also help us confirm that the name on your bank account matches the provided KYC details. We value your privacy and use this information solely for facilitating your purposes.

There are two options for investment through 13Karat: 13K and 12K.

– 13K: Selecting this option, an investor can invest funds for a fixed tenure of 6 months and can get interest up to 13% p.a. The investment gets locked in for a tenure of 6 months, and premature withdrawal will not be possible.
– 12K: Selecting this option, an investor can invest funds for a fixed tenure of 3 months and can get interest up to 12% p.a. The investment gets locked in for a tenure of 3 months, and premature withdrawal will not be possible.

Once your payment is successful, it takes up to T+3 working days for the interest to start accruing on your investment.

No. But you can choose to re-invest and compound your earnings by selecting the auto-invest option.

Please be aware that the interest income earned through your investments is taxable as per your income tax slab. It falls under the category of ‘Other income.’ However, we do not deduct any tax from your earnings at the time of withdrawal. It is your responsibility to fulfill your tax obligations according to the applicable laws.

Please be aware that the interest income earned through your investments is taxable as per your income tax slab. It falls under the category of ‘Other income.’ However, we do not deduct any tax from your earnings at the time of withdrawal. It is your responsibility to fulfill your tax obligations according to the applicable laws.

If you encounter an error while adding your bank account, it means that the online verification of the bank account holder’s name failed to match with your KYC documents. Please provide us with a copy of your bank account statement or a cheque leaf that displays the account holder’s name. Send this along with your KYC documents to hello@13karat.in, and our team will verify and update your bank account details.

You can start investing with a minimum of Rs. 500, and the maximum investment limit is Rs. 10 lakhs. If you wish to invest more than Rs. 10 lakhs, please reach out to us, and our team will be glad to assist you. As per RBI guidelines, for investments exceeding Rs. 10 lakhs, a net worth certificate will be required.

You can make payments via UPI and Net banking. For UPI transactions, the maximum limit is Rs. 1 lakh. Please note that credit card payments are not allowed for P2P investments as per RBI regulations.

If your payment is unsuccessful despite the amount being debited from your bank account, rest assured that the amount will be automatically refunded to your source account within 10-14 working days.

This issue may arise if the amount you’re trying to invest exceeds the third-party transaction (TPT) limit set by your bank account, or if you haven’t registered for the TPT facility with your bank. In either case, please contact your bank to resolve the issue.

If you’re unable to add funds via UPI, it could be because you have reached your daily UPI transaction limit. Most banks have a limit of Rs. 1 lakh, while some have lower limits. Please check your bank’s UPI transaction limit for clarification.

Upon maturity, the principal amount along with the interest earned on your investment through 13Karat will be deposited into your bank account by default on T+4 working days. However, you also have the option to reinvest this amount by selecting the Auto-invest option available on the 13 Karat platform.

The time taken to process your withdrawal and receive the funds in your bank account depends on when the withdrawal request was submitted. Typically, it takes T+2 business days for the amount to be processed and deposited into your bank account.

Certainly! If you wish to change the bank account where your withdrawals will be credited, please email us at hello@13karat.in with your request. One of our support executives will get in touch with you to assist you with the process.

You can always reach out to us by sending an email to hello@13karat.in. Our dedicated customer support team is available to assist you and ensure a seamless experience with 13K.

If your KYC status is “pending,” it means that you need to complete your KYC verification before you can start investing with 13K. To complete your KYC, you only need to provide your PAN Card and Aadhaar-based documents.

Once your payment is successful, it takes up to T+2 working days for the interest to start accumulating on your investment.

Premature withdrawal is not permitted at the moment.