Here is good post regarding to 12% club by someone. He explained in brief about the app and risk.
I had invested in 12% club for over 6 months.
Ading money was simple, interest was credited daily, withdrawal was easy and instant (earlier, now it takes 24 hrs).
However wasn't too comfortable with risk involved so withdrew all my capital.
That why i guess it is written in post to start with small investment. All investment comes with some minor to major risk. It depends on Risk to Return reward. It is backed by RBI approved NBFC. so I am still invested.
jainashish85 wrote:any return in those 6 months?I had invested in 12% club for over 6 months.
Ading money was simple, interest was credited daily, withdrawal was easy and instant (earlier, now it takes 24 hrs).
However wasn't too comfortable with risk involved so withdrew all my capital.
@kukdookoo I am getting 1% per month simple interest on investment amount. He too got it same i guess
vishnu612 wrote:That why i guess it is written in post to start with small investment. All investment comes with some minor to major risk. It depends on Risk to Return reward. It is backed by RBI approved NBFC. so I am still invested.
Not to scare you, but RBI-approved NBFC doesn't guarantee you a single rupee.
I had earlier invested with lenden P2P lender(which is also an RBI approved NBFC) and lost 5k (for an investment of 15k)
In P2P scenario, they would just say the borrower is not paying and we updated the CIBIL for the borrower so that he cannot take any loan, only recovery effort is they call the borrower (he either wouldnt answer or would have changed his mobile number).
So, IMO you are at the mercy of the borrower to get your money back.
The people who borrow from NBFC are the people who cannot get loans from banks for various reasons (lower cibil, no security, risky profile).
In case you still plan to continue to be invested, I wish you all the luck that you need.
I got your point. Directly investing in P2P is more risky. But as mentioned in post below attached post, BharatPe gives most of loans to merchants registered with them. It is their business model, giving loans to small merchants (eg. shopkeepers). They needed small amount for small businesses which is given by Bharatpe. Merchants payback amount in small installment. So pool of users in 12% club are BharatPe Merchants. There are other borrowers what those are less. Here is good post explaining QA
How should I start with 12%. Can someone refer plz
There is link in attached in the post. I used that u can try same
Jigglypuff wrote:How should I start with 12%. Can someone refer plz
Just sign up and put in some test amount. Have sent you an old referral link. I don’t think referral works any longer though. No harm in trying.
Been using for 11 months now, haven’t faced any problems. except they occasionally stop taking funds when they are full. Taking out our own funds takes 1-2 days, never faced any problems with withdrawals.
Support is not instant but is active and gets back on twitter Dm within an hour, at least during working hours.
Seinfeld wrote:1 perc per month same as HDFC easy shop platinum dcJust sign up and put in some test amount. Have sent you an old referral link. I don’t think referral works any longer though. No harm in trying.
Been using for 11 months now, haven’t faced any problems. except they occasionally stop taking funds when they are full. Taking out our own funds takes 1-2 days, never faced any problems with withdrawals.
Support is not instant but is active and gets back on twitter Dm within an hour, at least during working hours.
How TDS is deducted??
No TDS is deducted from 12% club side as of now
vishnu612 wrote:https://www.moneycontrol.com/news/trends/ashnee...I got your point. Directly investing in P2P is more risky. But as mentioned in post below attached post, BharatPe gives most of loans to merchants registered with them. It is their business model, giving loans to small merchants (eg. shopkeepers). They needed small amount for small businesses which is given by Bharatpe. Merchants payback amount in small installment. So pool of users in 12% club are BharatPe Merchants. There are other borrowers what those are less. Here is good post explaining QA
Guys, Refer and Earn option is open for limited time. Refer to your friends and earn 10% of their earning. Referral cashback gets credit between 1-5th of every month. PM me for referral link or follow link in post to download the app
Tip: copy referral somewhere for future use when refer option disabled
TLDR?
Any body facing problem with withdrawals of interest ?
vishnu612 wrote:I got your point. Directly investing in P2P is more risky. But as mentioned in post below attached post, BharatPe gives most of loans to merchants registered with them. It is their business model, giving loans to small merchants (eg. shopkeepers). They needed small amount for small businesses which is given by Bharatpe. Merchants payback amount in small installment. So pool of users in 12% club are BharatPe Merchants. There are other borrowers what those are less. Here is good post explaining QA
It looks like you are marketing their product, this is a marketing technique to spread positive replies.
@messirocks69478 I am telling my experience and what information i got from google baba. After that only i invested in 12% Club. No marketing here. I am just mentioning points that can help people take right decision. That's it.
What is the risk and how to mitigate it?
Our P2P NBFC Partner tries to minimize risks by undertaking stringent verification and credit underwriting process. These investments which are in the form of lending through our P2P NBFC Partner are subject to risk on account of the borrower defaulting on the payment. In case of any default, we do regular follow-up and soft recovery with the borrower.
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I got your point. Directly investing in P2P is more risky. But as mentioned in post below attached post, BharatPe gives most of loans to merchants registered with them. It is their business model, giving loans to small merchants (eg. shopkeepers). They needed small amount for small businesses which is given by Bharatpe. Merchants payback amount in small installment. So pool of users in 12% club are BharatPe Merchants. There are other borrowers what those are less. Here is good post explaining QA
https://www.linkedin.com/pulse/qa-related-doubt...