Safest P2P pending payment

Safe and p2p 1 line me ache nahi lagte

Using both for a while now because 12pc club is not taking deposits as of now for me. No issues in either but first preference was 12% club

legend101 wrote:

Using both for a while now because 12pc club is not taking deposits as of now for me. No issues in either but first preference was 12% club

why do you prefer 12% club?

rajatindia wrote:
why do you prefer 12% club?

I was sceptical about doing kyc on mobikwik but since 12% stopped taking deposits, i gave it a try and no issues faced till now. Also in 12% club i can see how much of my money is given to whom and how many people it is split between, couldnt find same from mobikwik

legend101 wrote:

I was sceptical about doing kyc on mobikwik but since 12% stopped taking deposits, i gave it a try and no issues faced till now. Also in 12% club i can see how much of my money is given to whom and how many people it is split between, couldnt find same from mobikwik

does mobikwik does compounding on interest?
does it re-invest the interest?

rajatindia wrote:
does mobikwik does compounding on interest?
does it re-invest the interest?

Both dont do it, just withdraw every 2-4 weeks and reinvest. I withdraw when total interest reaches 1k which is minimum investment required and then invest it 

legend101 wrote:
Both dont do it, just withdraw every 2-4 weeks and reinvest. I withdraw when total interest reaches 1k which is minimum investment required and then invest it 

Good manual compounding process...

legend101 wrote:
Both dont do it, just withdraw every 2-4 weeks and reinvest. I withdraw when total interest reaches 1k which is minimum investment required and then invest it 

can we invest in xtra through laptop and not mobile?
how safe if we go for 13% plan?

rajatindia wrote:
can we invest in xtra through laptop and not mobile?
how safe if we go for 13% plan?

In that case ur money will be locked for a specific period... Like 3 months, 6 months, 9 months and 12 months... If u try to withdraw before time... U will only get 8% which is a normal fd rate... Why to take a risk in this... Only if u are sure to invest money for minimum 3 months... Go forward.... 

legend101 wrote:

I was sceptical about doing kyc on mobikwik but since 12% stopped taking deposits, i gave it a try and no issues faced till now. Also in 12% club i can see how much of my money is given to whom and how many people it is split between, couldnt find same from mobikwik

How and where you can check in 12% Club?

manehari wrote:

How and where you can check in 12% Club?

Click on earnings - then press the download button on top right (not the download statement button at the bottom)

rajatindia wrote:
can we invest in xtra through laptop and not mobile?
how safe if we go for 13% plan?

Cant invest through laptop, you need mobile app. I dont invest in 13% because that has a minimum lockin of 3 months which i dont prefer for the marginal increase of <1%. Plus if you start compounding on your own, the gap reduces further

legend101 wrote:
Click on earnings - then press the download button on top right (not the download statement button at the bottom)

Thanks. I don't know this statement is available for download.

Borrowers are taking loans from Lenden Club from outrageous amounts ~2% per month and above. I wondered how they could give 12% annually but now they can give easily even if 10-20%  people are defaulted.

@manehari Well, unorganized, unofficial modes of P2P has had and will have >2% monthly rates (3% is quite common if you survey in some regions), "outrageous" to you but acceptable to people who borrow for short periods and in real need. Also, many credit cards charge > 42% APR, that translates to about 4% monthly... so what's wrong in that?

Agnivo007 wrote:

@manehari Well, unorganized, unofficial modes of P2P has had and will have >2% monthly rates (3% is quite common if you survey in some regions), "outrageous" to you but acceptable to people who borrow for short periods and in real need. Also, many credit cards charge > 42% APR, that translates to about 4% monthly... so what's wrong in that?

Nothing wrong as long as my principal is safe with these P2P lenders.

They might use a lot of parameters or AI to decide on interest rates based on the borrower risk profile. To decrease the probability of default rate it would be good if they can decrease interest rates to nominal

@manehari Their marketing or internal team is better qualified to asess that and make adjustments to lending rate and recovery failure rates... They are here to make profit and have their cut, as big as possible keeping a balance and acceptable risk parameters...

I recommend investing in Uni Cards Powerup, which offers a return of 9%, but only for those with a CIBIL score of 780 or higher. While all P2P platforms are currently offering the mentioned return, some have recently reduced their returns (12%Club) and stopped referral programs. It is important to take note of these changes before investing in P2P lending.

It is also crucial to consider the NBFC rating of the platform, as they will be handling your money. Lendbox has a poor rating and is used by MobiKwik for their Zip Cash Loan program.

On the other hand, Liquiloans is considered the best option, and Scaler and top institute students are availing themselves of loans with no-cost EMI, although the loan is topped up with EMI cost.

Lendenclub is used by the 12%Club and seems to be doing well, but it is unclear who the borrowers are, although it appears that BharatPe is giving loans to UPI merchants.

Overall, the P2P lending market is thriving in India, and third-party administrators (TPAs) are a better option than NBFCs. Consider going with platforms such as Cred Mint and Uni Powerup, the latter of which I have used and has a dedicated account manager for support.

I moved away from 12%Club after they reduced their return rate from 12% to 10% without any prior notice, which felt suspicious to me.

Angervind wrote:

I recommend investing in Uni Cards Powerup, which offers a return of 9%, but only for those with a CIBIL score of 780 or higher. While all P2P platforms are currently offering the mentioned return, some have recently reduced their returns (12%Club) and stopped referral programs. It is important to take note of these changes before investing in P2P lending.

It is also crucial to consider the NBFC rating of the platform, as they will be handling your money. Lendbox has a poor rating and is used by MobiKwik for their Zip Cash Loan program.

On the other hand, Liquiloans is considered the best option, and Scaler and top institute students are availing themselves of loans with no-cost EMI, although the loan is topped up with EMI cost.

Lendenclub is used by the 12%Club and seems to be doing well, but it is unclear who the borrowers are, although it appears that BharatPe is giving loans to UPI merchants.

Overall, the P2P lending market is thriving in India, and third-party administrators (TPAs) are a better option than NBFCs. Consider going with platforms such as Cred Mint and Uni Powerup, the latter of which I have used and has a dedicated account manager for support.

I moved away from 12%Club after they reduced their return rate from 12% to 10% without any prior notice, which felt suspicious to me.

Well written thoughts .
Isn’t it better to do FDs than get 9% in P2P ?

Also cred gives 9% and had seemed the most reliable of all, with no policy change from the beginning. However again it was attractive when bank fds were very low.

@rajatindia I was quite heavily invested in 12% and cred. Liquidated both after FD interests rectified. Had minor issues with 12% but it can be ignored. Cred had no issues. Just left because I was having to daily monitor news related to P2P lending and the way 12% club changed their policies without any warnings seemed risky to me.
nothing negative agains P2P lending, just that current the interest difference didn’t make much value for the effort I had to give. 12% club no longer gives fixed 12% as before, it gives ~10%

Seinfeld wrote:

Isn’t it better to do FDs than get 9% in P2P ?

Well written thoughts .

P2p provides below advantages

Daily Interest credited, you can invest that in Index Fund sip for better compounding

No lockin anytime withdrawal.

Seinfeld wrote:

Isn’t it better to do FDs than get 9% in P2P ?

Well written thoughts .

It's better IMO

Risk reduce significantly when you do FD (but with some credible banks) in exchange for 1-2% low returns

IG even Top tier NCD are better when compared with P2P lending IMO

manehari wrote:

Thanks. I don't know this statement is available for download.

Borrowers are taking loans from Lenden Club from outrageous amounts ~2% per month and above. I wondered how they could give 12% annually but now they can give easily even if 10-20%  people are defaulted.

have a look here - https://www.desidime.com/discussions/super-dupe...

Angervind wrote:

I recommend investing in Uni Cards Powerup, which offers a return of 9%, but only for those with a CIBIL score of 780 or higher. While all P2P platforms are currently offering the mentioned return, some have recently reduced their returns (12%Club) and stopped referral programs. It is important to take note of these changes before investing in P2P lending.

It is also crucial to consider the NBFC rating of the platform, as they will be handling your money. Lendbox has a poor rating and is used by MobiKwik for their Zip Cash Loan program.

On the other hand, Liquiloans is considered the best option, and Scaler and top institute students are availing themselves of loans with no-cost EMI, although the loan is topped up with EMI cost.

Lendenclub is used by the 12%Club and seems to be doing well, but it is unclear who the borrowers are, although it appears that BharatPe is giving loans to UPI merchants.

Overall, the P2P lending market is thriving in India, and third-party administrators (TPAs) are a better option than NBFCs. Consider going with platforms such as Cred Mint and Uni Powerup, the latter of which I have used and has a dedicated account manager for support.

I moved away from 12%Club after they reduced their return rate from 12% to 10% without any prior notice, which felt suspicious to me.

which is between Uni Cards Powerup vs FI Jump vs Cred?

Seinfeld wrote:

Well written thoughts .
Isn’t it better to do FDs than get 9% in P2P ?

Also cred gives 9% and had seemed the most reliable of all, with no policy change from the beginning. However again it was attractive when bank fds were very low.

@rajatindia I was quite heavily invested in 12% and cred. Liquidated both after FD interests rectified. Had minor issues with 12% but it can be ignored. Cred had no issues. Just left because I was having to daily monitor news related to P2P lending and the way 12% club changed their policies without any warnings seemed risky to me.
nothing negative agains P2P lending, just that current the interest difference didn’t make much value for the effort I had to give. 12% club no longer gives fixed 12% as before, it gives ~10%

Yes FD can be done, but I need liquidity so that when market is down, I can take money from P2P and then put in stock market.

rajatindia wrote:
which is between Uni Cards Powerup vs FI Jump vs Cred?

Uni Powerup Provides Dedicated account manager and Uni Cash Bonus others don't

rajatindia wrote:
Yes FD can be done, but I need liquidity so that when market is down, I can take money from P2P and then put in stock market.

for very short period nothing can beat the P2P rates.

What is the minimum investment we can do in cred mint? For me its not going below Rs  100000

sahuvivek wrote:

What is the minimum investment we can do in cred mint? For me its not going below Rs  100000

Yes. 1 lac initially for anyone. You can withdraw and invest lower amounts later

manehari wrote:

Yes. 1 lac initially for anyone. You can withdraw and invest lower amounts later

Is that 9% fixed in mint if we withdraw after some days or any charges?

Gauravmittal49589 wrote:

Is that 9% fixed in mint if we withdraw after some days or any charges?

No charges on withdrawal. 9% annual