Hot Deal

Super duper interest of 12.99% in Mobikwik Xtra Plus

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Deal Subedar
Puneet_Goyal
Through this feature, users can earn up to 12.99 percent interest. Earlier, the company had launched the Xtra feature in which up to 12 per cent interest is available. The company has partnered with RBI regulated P2P investing platform Lendbox (Transactree Technologies Pvt Ltd) for this feature.

If you invest in Mobikwik Xtra, then the interest you get at the rate of 12 percent is added to your account every day. You can also withdraw that money at any time. On the other hand, you can earn 12.99 percent interest by investing in Xtra Plus, but the lock-in period is 3 months.

Who can invest in Mobikwik Xtra or Xtra Plus?

Any Indian above 18 years of age with PAN card and Indian bank account can invest in it. NRIs can invest in it through their NRO bank account.

Are there any charges for investing in Mobikwik Xtra or Xtra Plus?
No, there are no charges for deposit or withdrawal in Mobikwik Xtra. There is no investment fee for investing in Mobikwik Xtra Plus. In Mobikwik Xtra Plus, there is no interest for withdrawing money before 30 days and up to 8% interest for withdrawing money before maturity.


How much investment required

Investing in Mobikwik Xtra or Xtra Plus can start with as low as Rs 1000. You can invest up to Rs 10 lakh in this. If you want to increase your investment more than 10 lakh rupees then you have to contact Mobikwik team. According to RBI guidelines, a net worth certificate will be required for investing more than Rs 10 lakh.

How safe is investing in P2P lending platforms?

Many P2P investing platforms in the country are regulated by the RBI. However, there is a risk in this investment as well. In such a situation, one should invest wisely.
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Disclaimer
We are not SEBI/IRDA registered. The information provided herein is for education purposes only. We will not be responsible for any of your profit/loss with this channel's suggestions. Consult your financial advisor before making any decisions.
Top Comments
Benevolent Benevolent
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See all these apps hide behind "regulated by the rbi" tag but consider the regulation to be worst than cooperative banks
Deal Subedar Deal Subedar
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How is 12% club? Is it safe as compared to this mobikwik

Wingman Wingman
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All are risky. However the probability of risk is low, but when shit hits you should be ready to lose your Money.

Put 5-10% of your investment money .

Commentator Commentator
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For 12% return, the risk is too high with these P2P apps. My suggestion, open a demat account and buy a small case of good managers like Deepak Shenoy, Prashant Krish, Amit Kumar Gupta or whomever you trust.

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Helpful Helpful
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vu

Deal Cadet Deal Cadet
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.any review on this . anyone invested. is it safer than Cred

Deal Subedar Deal Subedar
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Almost all have the same risk hence Go for the highest return.

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Benevolent Benevolent
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See all these apps hide behind "regulated by the rbi" tag but consider the regulation to be worst than cooperative banks
Finance Mentor Finance Mentor
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“partnered with RBI regulated P2P investing platform Lendbox

Look closely , MobiKwik has no regulations and lendbox wont ever entertain any direct queries for investments done through MobiKwik.

MobiKwik is just using the term RBI to gain our trust. I know this is not wrong, just be careful before you leap.

Finance Mentor Finance Mentor
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Digital kabuliwala lending...

Benevolent Benevolent
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one should invest wisely=100%risk 

Once enough money is invested Mobikwik show this line😄

Deal Subedar Deal Subedar
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,Mobiwkik aur freecharge oe i wont trust even for 1 re , zero reliability.  Never run for higher return by putting all the investment at risk

Helpful Helpful
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+1..

Can't trust mobikwik for single rupee.. they are worst in terms of changing t&c and downgrading offers

Generous Generous
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Bhartpe have more trusted and customer than this..

Helpful Helpful
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Still??

View 3 more replies
Deal Subedar Deal Subedar
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How is 12% club? Is it safe as compared to this mobikwik

Wingman Wingman
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All are risky. However the probability of risk is low, but when shit hits you should be ready to lose your Money.

Put 5-10% of your investment money .

View 1 more reply
Commentator Commentator
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For 12% return, the risk is too high with these P2P apps. My suggestion, open a demat account and buy a small case of good managers like Deepak Shenoy, Prashant Krish, Amit Kumar Gupta or whomever you trust.

Deal Cadet Deal Cadet
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25 din me paisa dabal

Deal Newbie Deal Newbie
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@ 12%, Paisa double hoga 3000 din mein, if not reinvested, matlab poore 8years and 3months

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Deal Newbie Deal Newbie
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1 lakh invested

Deal Newbie Deal Newbie
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Jst 4% more than fd .  Fd provides 9% and 5 lakh is secured by RBI.  Without any risk. So btr invest in fd. 9% in small finance banks

Deal Cadet Deal Cadet
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Why do you want to wait for 3 months, just for extra 1%. Not worth it.

Deal Newbie Deal Newbie
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Overall Risky no Sunvai in anywhere
Generous Generous
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upto?

Deal Newbie Deal Newbie
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How do PPL forget that they have to pay tax on this, usually 20-30% . Then how is this better than fd

Deal Newbie Deal Newbie
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You would also be paying tax on interest earned on FD.

10 lakh in FD: interest @ 9% = Rs 90,000

Tax on 90000 (if in highest bracket) = Rs. 27000

Net income = Rs.90000-Rs.27000 = Rs. 63000

10 lakh @ 13% interest = Rs. 1,30,000

Tax (@30%) = Rs. 39,000

Net earning = Rs 130000-Rs.39000 = Rs. 91,000

So, even after tax its Rs.63000 vs Rs.91,000

No role of tax here. Higher earning, higher tax but higher net income too.

Helpful Helpful
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P2P lending is highly risky & complex.
Most people don't understand lending & P2P lending. P2P lenders & these new-age players are just fooling their investors. In P2P lending, you should expect atleast a return of 14-18% on your portfolio, else it's not worth considering the high risk. 
A 5-7% default (NPA) in P2P lending is normal, so for every Rs 100 invested, you will lose Rs 5. The remaining Rs 95 is what helps you earn interest. So, even if your balance portfolio earns 12% (which is unlikely with these new age players; note that they say "upto 12%"), you will make 106.4. So overall just 6.4%!!! And if your default rate hits 10%, you will only make 100.8 at 12% return!! One of the reasons why P2P lending not picked up in so many years & despite RBI giving out licenses!

Real problem is borrower underwriting+due-diligence & recovery mechanism. P2P lenders need excellence on these 2 parameters, but seemingly all p2p lenders are failing on this!!!

If you still want to invest thru P2P, rather do it directly on the P2p platforms instead of these new age players. Choose your platform wisely!   

Helpful Helpful
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What's the bad debt percentage in these P2P. Generally
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Commentator Commentator
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You are basically giving loan to mobikwik. There no guarantee they will ever pay you back since they are all in losses stuck_out_tongue stuck_out_tongue stuck_out_tongue

Deal Hunter Deal Hunter
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It is possible that thay give mobikwik supercash instead of Interest stuck_out_tongue

Deal Newbie Deal Newbie
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How would you consume Supercash? There is a validity clause in SC, but interest can be transferred to bank and use as per our wish

Helpful Helpful
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Meri Anuradha aisi hai

Commentator Commentator
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Gold yearly return is nearly at 18% right now investment in this shit will be a loss

Deal Cadet Deal Cadet
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IndiaP2P gives 16 to 18% return i think

Deal Cadet Deal Cadet
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Did someone invest into India P2P?

Deal Subedar Deal Subedar
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I personally invested 50000 in this

Helpful Helpful
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When did u invest and how are the returns. Did you get exactly 12% or 12.99% ?

Helpful Helpful
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How much time will mobikwik take to reflect deposit in xtra flexi? Its been 1 hour since debiting bank account but  nothing showing in xtra

Deal Newbie Deal Newbie
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It usually shows up almost instantly, the earning would begin from the third day though

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