https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7907505
I would invest in Cred mint
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Should i invest in cred mint?
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I have cred mint invite available. It is proposing 9% interest against invested money, but the risk is that it is a peer to peer lending platform so if the other person doesn't pay my money is at risk.
Cred says that our money will be diversified in 200 different borrowers to mitigate risks and also that their current NPA is less than 1 percent. Also if there is any loss than first cred will let go it's interest and then if there is any more loss we will have to bear it. also we can withdraw our money anytime we want(except first 2 working days of investing)
If the investment was just 20-30k i would have invested but the minimum is 1 lakh.
Please give your valuable opinions.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7907586
If you want your 1lakh MIA go ahead
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7907599
Avoid over diversification….
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7907894
This is some what different from the regular p2p lending.
The borrower is the member of cred and he has credit cards. He can not run away with your money. But he can delay.
All CC holders are very careful with cibil. They will pay back the money at any cost.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7907902
ramadesidime wrote:This is some what different from the regular p2p lending.
The borrower is the member of cred and he has credit cards. He can not run away with your money. But he can delay.
All CC holders are very careful with cibil. They will pay back the money at any cost.
Again, Cred is not managing Money Lending. And borrowers are not directly taking money from Cred. They are tying up with a P2P lending company which will give to borrowers. Also, they have given you risks, and minimization of risk which directly means there is a risk of loosing some or all of your principal interest. Kindly check again how secure is your principal, and even interest then.
PS: This is my opinion, I won’t invest.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7908417
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Manitian wrote:This is not true, since CRED doesn't have any NBFC License, hence they cannot lend directly, so they have to pretend to RBI that they're not the ultimate lender. They are pretending that everything about lending and investing is being done by LiquiLoans (NBFC) with required licenses and permissions. They're only lending to Cred users, users who have high CIBIL and credit score, ultimately, trying to lend only to high credit worthy customers. Couple of important points: 1. Every loan/investment carries its own risk, nothing is guaranteed, so beware and take calculated risks. 2. One awesome feature, is anytime withdrawal. After investing, any day you can request your money to be credited back without any penalty whatsoever. This alone should address most of your concerns. 3. Another thing, that I speculate is that, they must be diversifying funds a lot between loan seekers, so if one invests, 10 lakhs, they'll distribute that money more than a dozen loan seekers to reduce risks for everyone. 4. If you read/listen to Kunal Shah about cred's model, they're not a core credit card payment company, their entire model is to create a community of high credit worthy and trust worthy community. India is a low trust nation, and they're trying to address that issue. As a result, things like renting houses/offices to this community of people would be a dream as one wouldn't have to run after them for payments, similar for classified listings etc. Essentially dealing with this community assures you that you're dealing with trustworthy people. Credit cards just are an easy way of monitoring one's credit discipline. If you check in Cred Cash, they're lending at extremely competitive rates around 13-17%. If you check around unsecured personal loans even from most of the top banks can't match them. And I'm quite hopeful, down the line they may either get their on license or acquire Liquiloans or any other NBFC to control and monitor the entire process. PS/Disclosure: This is my opinion, I have invested.
Again, Cred is not managing Money Lending. And borrowers are not directly taking money from Cred. They are tying up with a P2P lending company which will give to borrowers. Also, they have given you risks, and minimization of risk which directly means there is a risk of loosing some or all of your principal interest. Kindly check again how secure is your principal, and even interest then. PS: This is my opinion, I won't invest.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7908431
11 votes So far and all are saying No ,all are against Investing
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7909094
9% se jyada Long term share market se uth jaega, y take risk
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7996155
Hey guys my Cred Mint link is expired, i need invite to gain the accesss. Pls share with me, if possible.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7996531
Risk in investment should always be propositionate to the returns one gets. What the point in taking so much risk for just for 9% returns while most mutual funds schemes will generate more returns than this with comparatively lower risks.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_7996683
cybertechie wrote:Keep in mind - there was something like Franklin mutual fund whose 6 schemes were frozen last year, although now investors have got majority of it back
Risk in investment should always be propositionate to the returns one gets. What the point in taking so much risk for just for 9% returns while most mutual funds schemes will generate more returns than this with comparatively lower risks.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_8791762
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Thanks in advance
jimmy786 wrote:What is your experience, around a year after you invested in Mint? Just curious and I am planning to put money to it rather than just keeping it dead in my savings account.
This is not true, since CRED doesn't have any NBFC License, hence they cannot lend directly, so they have to pretend to RBI that they're not the ultimate lender. They are pretending that everything about lending and investing is being done by LiquiLoans (NBFC) with required licenses and permissions. They're only lending to Cred users, users who have high CIBIL and credit score, ultimately, trying to lend only to high credit worthy customers. Couple of important points: 1. Every loan/investment carries its own risk, nothing is guaranteed, so beware and take calculated risks. 2. One awesome feature, is anytime withdrawal. After investing, any day you can request your money to be credited back without any penalty whatsoever. This alone should address most of your concerns. 3. Another thing, that I speculate is that, they must be diversifying funds a lot between loan seekers, so if one invests, 10 lakhs, they'll distribute that money more than a dozen loan seekers to reduce risks for everyone. 4. If you read/listen to Kunal Shah about cred's model, they're not a core credit card payment company, their entire model is to create a community of high credit worthy and trust worthy community. India is a low trust nation, and they're trying to address that issue. As a result, things like renting houses/offices to this community of people would be a dream as one wouldn't have to run after them for payments, similar for classified listings etc. Essentially dealing with this community assures you that you're dealing with trustworthy people. Credit cards just are an easy way of monitoring one's credit discipline. If you check in Cred Cash, they're lending at extremely competitive rates around 13-17%. If you check around unsecured personal loans even from most of the top banks can't match them. And I'm quite hopeful, down the line they may either get their on license or acquire Liquiloans or any other NBFC to control and monitor the entire process. PS/Disclosure: This is my opinion, I have invested.
Thanks in advance
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_8791833
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mytraveldiaries88248 wrote:So far so good, invested, withdrawn and re-invested without any issues.
What is your experience, around a year after you invested in Mint? Just curious and I am planning to put money to it rather than just keeping it dead in my savings account.
Thanks in advance
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9003746
In Cred Mint?
Have around 1L to invest, what do you suggest?
@jimmy786
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9003764
kipte.khoka wrote:In Cred Mint?
Have around 1L to invest, what do you suggest?
@jimmy786
Yep, Cred.
For short term, i think cred would be best.
But for long term, you could go for Equity or Some Small Finance Bank FDs too. Now that the repo rate is way high, 9% is not much exciting anymore.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9003767
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9003786
If you are open to taking risks, go for the 12% club by Bharatpe instead.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9003788
kipte.khoka wrote:In Cred Mint?
Have around 1L to invest, what do you suggest?
@jimmy786
9% is not all worth the risk at this stage. Don't do it.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9003789
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9003793
VR_Rahman wrote:If you are open to taking risks, go for the 12% club by Bharatpe instead.
@kipte.khoka Take this 12% thing. Both are P2P lending and carries the same risk.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9003904
Yes. I am invested in 12% club from Last 2 years, So far no issues. DM me for a referral. However risk is involved in these P2P loans, be cautious before putting your hard earned money.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9017940
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jimmy786 wrote:what is your ecperience till date?
This is not true, since CRED doesn't have any NBFC License, hence they cannot lend directly, so they have to pretend to RBI that they're not the ultimate lender. They are pretending that everything about lending and investing is being done by LiquiLoans (NBFC) with required licenses and permissions. They're only lending to Cred users, users who have high CIBIL and credit score, ultimately, trying to lend only to high credit worthy customers. Couple of important points: 1. Every loan/investment carries its own risk, nothing is guaranteed, so beware and take calculated risks. 2. One awesome feature, is anytime withdrawal. After investing, any day you can request your money to be credited back without any penalty whatsoever. This alone should address most of your concerns. 3. Another thing, that I speculate is that, they must be diversifying funds a lot between loan seekers, so if one invests, 10 lakhs, they'll distribute that money more than a dozen loan seekers to reduce risks for everyone. 4. If you read/listen to Kunal Shah about cred's model, they're not a core credit card payment company, their entire model is to create a community of high credit worthy and trust worthy community. India is a low trust nation, and they're trying to address that issue. As a result, things like renting houses/offices to this community of people would be a dream as one wouldn't have to run after them for payments, similar for classified listings etc. Essentially dealing with this community assures you that you're dealing with trustworthy people. Credit cards just are an easy way of monitoring one's credit discipline. If you check in Cred Cash, they're lending at extremely competitive rates around 13-17%. If you check around unsecured personal loans even from most of the top banks can't match them. And I'm quite hopeful, down the line they may either get their on license or acquire Liquiloans or any other NBFC to control and monitor the entire process. PS/Disclosure: This is my opinion, I have invested.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9017958
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suhagkmaru387 wrote:
what is your ecperience till date?
I've invested multiple times and withdrawn with ease at Cred mint.
But given current interest scenario, i wouldn't advise 9% schemes with relatively high risk.
Try looking for small finance bank FDs or debt mutual funds, they should deliver similar returns with much lesser risk.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9017970
thnx for answer . you are right for debt mutual funds . but was thinking a chance considering kunal shah onboard since he can be trusted! i hope the redemption process is no problem ??
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9018107
suhagkmaru387 wrote:redemption is as easy as investing.thnx for answer . you are right for debt mutual funds . but was thinking a chance considering kunal shah onboard since he can be trusted! i hope the redemption process is no problem ??
Personally, I follow Kunal so I'm invested into Cred Mint, but since not many do, so I don't want them to risk it, based on my advice.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9018109
great
thnx for response
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9018358
@suhagkmaru387
Cred mint needs min 1L to start investing. If this is just a start for you in P2P lending, will advise to take 12% or mobikwik xtra and put in just a little amount to get the feel.
Just my personal view though Cred gives 9% but feels more reliable with very less negative social media traction. Then comes 12% and last is mobikwik xtra.
https://www.desidime.com/discussions/should-i-invest-in-cred-mint?page=1#post_9018460
Seinfeld wrote:Cred is better than most because they are only giving it to people having decent credit history. Most are cc holders and looking for short OD..@suhagkmaru387
Cred mint needs min 1L to start investing. If this is just a start for you in P2P lending, will advise to take 12% or mobikwik xtra and put in just a little amount to get the feel.Just my personal view though Cred gives 9% but feels more reliable with very less negative social media traction. Then comes 12% and last is mobikwik xtra.
Many i know have invested in mint and haven't heard any negative comments yet
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