Cred mint @9%

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Deal Cadet
Rakesh1034

Anyone invest in this ?
Is it safe?

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Deal Cadet Deal Cadet
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Yes it is safe. Better than liquid mutual fund.
But you can directly apply on liqiloans rather than going via cred.

Deal Cadet Deal Cadet
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I had received the invite for it and read the TnC’s and was shocked at how risky it was.

1. First of all there’s no guarantee if the money would be returned to you and if the borrower defaults, cred writes that they will forgo their fees and will blacklist the borrower by reporting to cibil etc, it means your money is gone
2. Also 9% is not guaranteed, it can be more or less depending at what percentage borrower takes it

Pro Shopping Friend Pro Shopping Friend
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ashmail123957 wrote:

I had received the invite for it and read the TnC’s and was shocked at how risky it was.

1. First of all there’s no guarantee if the money would be returned to you and if the borrower defaults, cred writes that they will forgo their fees and will blacklist the borrower by reporting to cibil etc, it means your money is gone
2. Also 9% is not guaranteed, it can be more or less depending at what percentage borrower takes it

Though shocking but they are normal conditions
in real life also I have seen many lenders loosing money but overall they do earn so CRED also is talking about worst case
I haven’t invested in MINT though

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