How can I invest in peer to peer lending in India?

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How can I invest in peer to peer lending in India?

India’s Most Trusted P2P Lending Platform

  1. #STEP1 Register With RupeeCircle. Create your account in 5 simple steps including profile, document submission verification, application and approval.
  2. #STEP2 Choose Your Loan. Choose the offer with the terms that work the best for you.
  3. #STEP3 Get Your Funds.

Is P2P lending safe in India?

Yes, Peer to Peer (P2P) lending in India is safe as long as you invest through an RBI Certified P2P NBFC like LiquiLoans or Faircent. Although there are other factors that you must consider before you become a lender on one of these platforms.

Is P2P a good investment?

Here are some benefits of P2P lending as an investment option: Low investment: You do not need lakhs and crores to invest in P2P. You can get started with a small amount, and as you understand the process better, you can increase your investment. You can start investing in P2P lending with just Rs 50,000.

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What is illegal interest rate in India?

As per money lending act, interest on loans cannot be charged exorbitantly. The normal interest that shall be chargeable shall restrict to 24\% pa.

Is P2P lending a good way to make money?

Since p2p lending sites don’t have all the costs of running a bank,there are fewer loan fees with online loans.

  • Since peer to peer lending is between investors and borrowers,interest rates are lower than at a bank where everyone (investment brokers,investors and the bank) want to make a
  • Peer to peer lending is completely online.

    • What are the Best P2P platforms in India?

    i2ifunding. Founded by Abhinav Johary,Manisha Bansal,Neha Aggarwal,Raghavendra Pratap Singh,and Vaibhav Pandey in 2015,i2ifunding is a P2P lending platform in India.

  • Faircent. Nitin Gupta,Rajat Gandhi and Vinay Mathews founded Faricent,a peer to peer lending site in India that provides P2P loans to individuals.
  • Finzy.
  • i-Lend.
  • LenDen Club.

    • What are the three principal types of P2P lending?

    Peer-to-peer lenders. As explained,peer-to-peer lending happens when individuals borrow from other individuals without using a credit union or without having the transaction go through a bank.

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  • Crowdfunding.
  • Financial assistance from friends and family.
  • Borrowing money from your own savings.

    • What is the value proposition of P2P lending?

    The P2P Lending Value Proposition The P2P platform helps provide a new asset class to lenders that enables them to get higher returns compared to other asset classes. They also stand to earn regular monthly returns from their investments, in form of EMIs that the borrowers repay.