https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9199561
kukdookoo
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Safe and p2p 1 line me ache nahi lagte
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Safest P2P pending payment
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https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9199616
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
https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9199676
why do you prefer 12% club?
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https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9199898
@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?
https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9199917
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
https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9199921
@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...
https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9199931
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.
https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9199988
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%
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https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9201722
What is the minimum investment we can do in cred mint? For me its not going below Rs 100000
https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9201810
Yes. 1 lac initially for anyone. You can withdraw and invest lower amounts later
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https://www.desidime.com/discussions/safest-p2p-pending-payment?page=1#post_9213034
I have started investing in ET money which gives around 9-9.5% off. If anyone needs referral then let me know @legend101
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