Hot Deal

What is 12% club by Bharatpe and how risky investing in it??

4195°
Deal Newbie
vishnu612

Here is good post regarding to 12% club by someone. He explained in brief about the app and risk.

https://www.quora.com/How-can-I-get-returns-of-...

Expired
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.
23 Comments  |  
11 Dimers
  • Sort By
Deal Subedar Deal Subedar
Link Copied

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.


Benevolent Benevolent
Link Copied
any return in those 6 months?
View 1 more reply
Deal Newbie Deal Newbie
Link Copied

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.

Deal Subedar Deal Subedar
Link Copied

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.

Deal Newbie Deal Newbie
Link Copied

@kukdookoo I am getting 1% per month simple interest on investment amount. He too got it same i guess

Benevolent Benevolent
Link Copied
Risky like layman brothers mortgages all is well until certain point after that boom
Deal Newbie Deal Newbie
Link Copied

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...

View 1 more reply
Helpful Helpful
Link Copied

How should I start with 12%. Can someone refer plz

Finance Mentor Finance Mentor
Link Copied

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.

View 1 more reply
Deal Newbie Deal Newbie
Link Copied

How TDS is deducted??

Finance Mentor Finance Mentor
Link Copied
Not deducted at source. Calculate in your Other incomes and pay as per your tax slab.
Deal Newbie Deal Newbie
Link Copied

No TDS is deducted from 12% club side as of now

Deal Newbie Deal Newbie
Link Copied

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

Generous Generous
Link Copied

TLDR?

Deal Newbie Deal Newbie
Link Copied

Any body facing problem with withdrawals of interest ?

Deal Newbie Deal Newbie
Link Copied

@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.

Helpful Helpful
Link Copied

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.

Deal Newbie Deal Newbie
Link Copied

I have  still invested in 12% about 17 Lacs in my 3 profiles . 
I invested 9 lac in my account, 5 Lacs in my dad’s account and 3 Lacs in my wife’s account . It’s almost an year and I am getting interest on time which I withdraw every week from each account . 

replyuser
Click here to reply
Reply