Issue With MobiKwik Xtra Investment and Withdrawal

[Exewhyzee]

Sad to see big amounts stuck of people. While xtra was too good to be true, it coming from a known entity like mobikwik would have given some comfort to the initial investors. Now, they completely trying to wash their hands of the issue is pathetic.

 

[Ram1]

@Abhishek012 @TechnoFino Sir, Pls give solution for this. Approx 6 lakh money is stuck with MobiKwik xtra. Pls Help to get the money.
MobiKwik Xtra is not repaying as per repayment schedule.

How much u have instead and how much received so far?

 

[theflash]

Sad to see big amounts stuck of people. While xtra was too good to be true, it coming from a known entity like mobikwik would have given some comfort to the initial investors. Now, they completely trying to wash their hands of the issue is pathetic.

I was lucky enough I withdrew all amount before this RBI thing happened. I needed the amount so initially thought of something else but lastly withdrew this MobiKwik Xtra.

 

[Ram1]

I was lucky enough I withdrew all amount before this RBI thing happened. I needed the amount so initially thought of something else but lastly withdrew this MobiKwik Xtra.

Luckyyy you, what an escape

 

[Ram1]

We’re excited to let you know that Xtra repayment of ₹1806.75 has been successfully credited to you. This amount will be auto-transferred to your linked bank account on next working day. 🙌
Repayment Details:
Principal Component:₹ 1651.86
Interest Component:₹ 154.89
Total Repayment Amount:₹ 1806.75


After continuously receiving 100rs daily, today got 1800rs🥹
Feeling emotional

 

[Shinigami]

Almost no repayment in last 2 months. Just got chiller change

 

[avbhel]

⚠️ Why I'm Writing This Now (After 12 Months of RBI Guideline Changes):
Because I was told by MobiKwik— “you’ll get your repayment every month”, so I waited patiently.
For months I assumed delays were temporary. But even after a full year, the repayments are nowhere near what was promised — not even a fraction, despite loans being at 35.99% interest.

That’s when I decided to ask for answers from MobiKwik.

🟠 Now What I wrote to Mobikwik: (Attached as a Document)

• Why has my tenure been changed?

• I had clearly selected only 12-month tenure at the time of lending, before the RBI guidelines changed.

• As per the attached repayment schedule, I’m not even getting half of the minimum expected amount.

• You are charging high interest (up to 35.99%) from borrowers, as visible in the borrower list — but you're not even passing back a small portion of that to me.

• I requested a proper explanation and a rescheduled repayment plan based on my original selections.

🔵 Mobikwik’s Reply: (Attached Full Documents)
You may not have received the expected repayment because one or more borrowers were not due or have not yet repaid.


Please contact Lendbox (support@lendbox.in) for borrower details and further information.


MobiKwik’s role is only to provide the platform for sourcing and servicing customers for its NBFC-P2P partner (Lendbox).


As per the terms and conditions:

1. Your funds were directly lent via Lendbox.
2. You authorized Lendbox to lend via their borrower pool logic.
3. Disputes must be resolved between you and the borrowers.
4. Lendbox can reinvest your money.
5. MobiKwik is not responsible for repayment, defaults, or fund recovery.

After 16 August 2024 (per RBI rule changes), withdrawals are only possible if borrowers repay.


Therefore, any changes to Xtra are made by Lendbox, not MobiKwik.

_________________________________________

So Now MobiKwik is playing safe side and He is denying to Take Any responsibility.

Still lot of money got stucked with them but Now I am worried after seen MobiKwik Reply. Earlier they were taking responsibility but Now they are blaming Lendbox for everything.

Just Suggest me , what Should I do ?

I am very Stressed, Pls Help me.

The repayment has been scheduled upto June,26 and with the rate of repayment (total of principle +interest) even the basic invested amount would not be realised.

 

[Loki_Fino]

The repayment has been scheduled upto June,26 and with the rate of repayment (total of principle +interest) even the basic invested amount would not be realised.

Is stop re-payament once list is over or they revise extend the period another year?

 

[AlooDum]

Is stop re-payament once list is over or they revise extend the period another year?

I don't think so. after june 2026 we all will be atleast at 30% loss

 

[Loki_Fino]

I don't think so. after june 2026 we all will be atleast at 30% loss

Somewhere they written your money is safe but only we get repayment whenever borrower clear their due it can 2 to 5 years only option wait till repayment schedule get over the after only we will get to know.

 

[Shinigami]

My schedule still shows till March 2026 only.

 

[Loki_Fino]

My schedule still shows till March 2026 only.

Same for me aswell hope they list new schedule for next 1 year till our principal settle.

 

[percolate]

According to the repayment schedule, at least 40% of the principal is not received in the past few months.
Lendbox says gross NPA is 9.75% as of June 2025.
We are supposed to receive the remaining 90% right?
Has anyone tried asking MobiKwik about the missing/less repayments?
Can we ask for our loans NPA?

 

[SSQ]

According to the repayment schedule, at least 40% of the principal is not received in the past few months.
Lendbox says gross NPA is 9.75% as of June 2025.
We are supposed to receive the remaining 90% right?
Has anyone tried asking MobiKwik about the missing/less repayments?
Can we ask for our loans NPA?

NPA is a percentage of advances.
The actual agreement is between two parties, the lender and borrower.
In simple terms say there are three individuals A, B, C and X, Y, Z as borrowers.

A - X
B - Y
C - Z

These are separate loan agreements. If Z defaults the agreement between A - X and B - Y are unaffected.
Only the lender C is in the trouble where the platform will facilitate the recovery process.
This NPA in lay man terms is 1 out of 3 in above case, 33% but doesn't mean 66% will be repaid to C.
So, C - Z will go through the recovery process and the repayment numbers in schedule will be different for each agreement.

 

[Shinigami]

NPA is a percentage of advances.
The actual agreement is between two parties, the lender and borrower.
In simple terms say there are three individuals A, B, C and X, Y, Z as borrowers.

A - X
B - Y
C - Z

These are separate loan agreements. If Z defaults the agreement between A - X and B - Y are unaffected.
Only the lender C is in the trouble where the platform will facilitate the recovery process.
This NPA in lay man terms is 1 out of 3 in above case, 33% but doesn't mean 66% will be repaid to C.
So, C - Z will go through the recovery process and the repayment numbers in schedule will be different for each agreement.

But, the loan amount isn't divided that way. The loan amount is divided only as a small chunk. So if 1 borrower defaults more then 1000 people will have a small default.

The problem is they say npa is less then 10% that cannot convert in anyway to each of us having 40% default. The company is probably taking a bigger chunk of repayment everytime minimising there cost and only returning us what's left after the deduction so even if the borrower pays more then 90% of the intrest + principal the company deductions are leaving us in the negative.

A d Most probably the company is deferring the default to an extended period to earn more fees from the borrower while levaing us with the loss.

 

[percolate]

But, the loan amount isn't divided that way. The loan amount is divided only as a small chunk. So if 1 borrower defaults more then 1000 people will have a small default.

The problem is they say npa is less then 10% that cannot convert in anyway to each of us having 40% default. The company is probably taking a bigger chunk of repayment everytime minimising there cost and only returning us what's left after the deduction so even if the borrower pays more then 90% of the intrest + principal the company deductions are leaving us in the negative.

A d Most probably the company is deferring the default to an extended period to earn more fees from the borrower while levaing us with the loss.

that seems to be the case. they are keeping the money and not paying the lenders. Anyway to gather evidence for this?

 

[SSQ]

But, the loan amount isn't divided that way. The loan amount is divided only as a small chunk. So if 1 borrower defaults more then 1000 people will have a small default.

The problem is they say npa is less then 10% that cannot convert in anyway to each of us having 40% default. The company is probably taking a bigger chunk of repayment everytime minimising there cost and only returning us what's left after the deduction so even if the borrower pays more then 90% of the intrest + principal the company deductions are leaving us in the negative.

A d Most probably the company is deferring the default to an extended period to earn more fees from the borrower while levaing us with the loss.

Yes, of course I gave an example to distinguish between NPA and expected repayment.

Even if a loan is contributed by multiple lenders, it can never be said that he gets equal portion in the total loans disbursed.
It is possible that the subset of loans classified as NPA forms significant portion of affected lenders. Generally in unorganised lending we can't expect recovery beyond 10-20% of dues. Apart from this, payments can also be delayed for 30, 60, 90 DPD categories even when not classified as NPA.

Based on the current situation, the company can exclude the loans from being categorized as NPA by paying the first installment with in 90 days DPD. In similar manner if partial recovery is done from borrower they may hold that amount to pay against first installment to avoid classification as NPA. The real picture on bad loans is not disclosed to the customer and this process will be repeated until recovery is considered improbable.