Udhaar Please

Human Tales Technology Private Limited

About this app

Udhaar (उधार) is a Hindi word. It means small informal credit.

उधार is a lifeline for almost 200M households in India. They run their home by relying on उधार from friends, family, neighbors, and close contacts.

Everything is trust-based and decisions are primarily emotional.

Unfortunately, the trust is often broken by some borrowers. This leads to money losses and disharmony in society at large.

In the उधार Universe, Bad actors don't get punished. Good actors don't get rewarded.

We have built उधार Please App to solve this socio-economic problem.

Our technology brings unbreakable trust to your phone contacts book, regarding उधार matters.

उधार Please App handles उधार with your friends, family & close contacts.

Lenders can check the repayment history & उधार score of their trusted contacts before giving them उधार.

Borrowers can propose an interest rate that borrowers can afford and lenders can earn. Win-win for both.

उधार Please App users don’t take decisions based on their gut feelings, instead they make data-backed informed उधार decisions.

Strangers are not allowed
In this app, strangers are not allowed. Only trusted and known people can ask & give each other उधार, e.g. friends, family, neighbors, relatives, vendors, suppliers, customers, colleagues, and other close contacts.

A close-knit community of 200-300 people, who know each other well, can take care of most of its small lending needs. This app provides the tools to make this possible.

We have built advanced technologies for our app users, which are typically only available to big financial institutions.


Superpower to lenders - उधार score
Every borrower gets a उधार score which is computed based on the timely repayments of उधार they have taken.

Lenders will be able to check उधार score and repayment history of their friends, family, and contacts when they ask उधार.

A higher उधार score increases the likelihood of getting उधार at lower interest rates from friends, family, and their social contacts.

However, if they fail to repay on time, their उधार score goes down and may impact their ability to borrow next time from their social contacts.

This creates an incentive for them to make timely payments in the future.

Borrowers can build a good उधार score by repaying उधार they have taken from their friends, family, and others on time.

Superpower to borrowers - propose interest rate
Borrowers can request उधार from their friends, family, and other close contacts without hesitation.

Instead of the lender, in उधार Please app, the borrower proposes the monthly interest rate they are willing to pay against the उधार. This ensures their capacity to repay.

The lender can accept the terms and give the उधार or reject it if the proposed terms are not attractive enough.

Privacy
The app respects your privacy and does not share your private data with anyone. Your repayment history and उधार score are only shared with a contact when you make a उधार request to them.


We are not a loan app. We are a much more advanced Khatabook app



उधार Please app is not a loan app. It doesn’t provide any loans, directly or indirectly. We are not like a P2P lending app like Faircent, LendBox, or LenDenClub. In our app, You only interact with people you know well. and you don't borrow उधार from strangers.

Our platform streamlines the process of requesting small उधार amounts from your social circle. उधार payments can be made using any third-party payment app.

Our app confirms payments from both parties and updates the borrower's उधार score and history accordingly.

We are not just a ledger books app like Khatabook, Cashbook, or any Bahi Khata apps.

Our app is dynamic and interactive. Here borrower proposes an interest rate and the lender has access to the borrower's payment history as well as the उधार score while deciding whether to lend or not.