List Of Peer Of Peer Lending Sites In India 2018

List Of Peer Of Peer Lending Sites In India 2018
February 15
06:07 2018

List Of Peer Of Peer Lending Sites In India 2018

Online lending companies in india also abbreviated as P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers.

Peer to peer lending has been able to attract thousands of borrowers and lenders in just a short period. Online lending platforms are claiming to have disbursed 10s of crores in loans.

Ok. Without wasting your time any longer below are list of best Online peer to peer lending companies in India today.

READ ALSO: Is Peer To Peer Lending Legal In India

List Of Best Peer Of Peer Lending Sites In India 2018

1. The Money Club

The Money Club, a mobile app available on google play store, helps you to save, invest or borrow money along with your trusted people (friends, family or office colleagues) and it benefits not only you but all those people who join your Money Club. It is based on the peer to peer lending concept.

It is a very trustworthy app as the borrowing and lending happens within your trusted network and also because no money comes on the Money Club app. Your money remains safe with you and at the end of the bidding you transfer money from your bank account to the winner’s bank account.

It’s more handy, easy and trusted than other p2p websites.

The Money Club app has made borrowing/lending extremely easy.

It helps you and your trusted people to get a loan:

  1. Without any paperwork
  2. Sitting at your home
  3. Cheaper rate of interest
  4. No worry for bad credit score

You also have the opportunity to help each other in times of financial emergency.

Money Club app can also help you earn high returns on your savings, higher than 4 times the fixed deposits returns

Just follow these simple steps:

  1. Search ‘The Money Club’ in google play store and download the app.
  2. Schedule a call on the app to understand how to form your Money Club.
  3. Form your Money Club with your trusted people.
  4. Pool up money.
  5. Save/Invest/Borrow.

Visit Their Website:

2. LenDenClub

LenDenClub is an exclusive P2P lending & borrowing platform offering quicker, faster, safer and more advantageous lending/borrowing facility than any other financial institution in India.

The company has already 2611 registered borrowers and 1460 registered lenders. LenDenClub enjoys an incredible record of 100% loan funding ratio.

How safe is LenDenClub:

  • LenDenClub is absolutely trustworthy as it lists only the verified profiles for borrowers and lenders.
  • The profiles are shortlisted only after extensive verification, both digitally and personally.
  • Though there is no chance of any inconvenience, there remains the LPF (Lender Protection Fund) for the greater assurance of the Lender’s money.
  • It’s an absolutely authorized process as P2P is the latest domain of investment acknowledged by RBI.

Quickest and the most beneficial:

It takes only 18 hours, or lesser for your loan request to be verified. LenDenClub is more beneficial than the banks as unlike the banks; here you don’t have to get satisfied with the interest rate that it (bank offers).

Rather, through LenDenClub, you can go through the borrower profile and decide on the interest rate. Borrowers can have a greater option as they have an extensive list of options for the lenders. At 12.5% – 30%, LenDenClub offers the most competitive rate.

Decide the worth of your money, and grow quick:

No one interferes in terms of assigning an interest rate to you being a lender. Similarly, the borrowers are approved for a loan within 18 hours.

Visit Their Website:

3. TachyLoans

TachyLoans is the best P2P lending platform that connects lenders and borrowers facilitating higher returns up to 25% p.a. to the investors.

Here are few of the reasons why you should invest on

  • Quick and easy account setup
  • Returns between 18% – 25% p.a.
  • Regular monthly income in the form of EMIs
  • Access to Creditworthy borrowers who have the ability to pay EMIs on time
  • Freedom to negotiate on the loan terms with the borrower such as loan tenor, amount and interest rate
  • Complete transparency throughout the operations
  • Borrower insurance to protect your interest

To earn high returns on your investments, register now on TachyLoans and start investing.

Visit Their Website:

4. i2ifunding

Among these i2ifunding carries out a robust underwriting process to protect the interest of its borrowers. It assesses the profile of borrowers on 50+ social and quantitative parameters using its proprietary risk assessment model. An interest rate and a risk category is then assigned to each borrower based on the assessment. It also follows a stringent physical verification process. This ensures that an investor has access to a trustworthy pool of borrowers across different risk categories so that he/she can diversify his loan portfolio easily. The entire process is online and hence highly transparent. I2I also offers principal protection to its borrowers depending on the risk category of the borrowers they have invested in. I2I follows up the interest payments with borrowers and hence makes sure that the payment does not get delayed. This makes i2i a more reliable option as compared to other P2P firms in the marketplace.

The benefits for you as an investor for investing through i2ifunding include:

  1. High returns: By investing through i2ifunding, you get to lend to various borrowers and earn high returns (interest) of up to 36%.
  2. High quality loan projects: The i2i team does the credit risk assessment of loan proposals received using the i2i proprietary Credit Score Model. The borrower is assessed on 40+ parameters such as credit history, education, job stability, income details and other behavioural patterns. This ensures only high quality loan borrowers are brought forward to investors like you for consideration for funding.
  3. Up to 100% principal protection: You as an investor / lender have the option to choose up to 100% loan principal protection. So, for example, if you have chosen 100% principal protection for a particular loan, and if the borrower defaults, then i2i will pay you the entire outstanding principal from the Principal Protection Reserve. The extent of principal protection that can be chosen by you as an investor / lender is 0% or 25% or 50% or 75% or 100%. This is a safety net for the investors.
  4. Easy and transparent process: The registration and KYC process is online, quick and hassle free. You can choose the borrower / loan that you wish to fund with a minimum investment of as low as Rs. 5,000.
  5. Good customer service: The customer service is prompt in addressing any queries / issues that may arise

From all the above listed benefits, the option of 100% principal protection feature stands out for me. I have not come across any other p2p lending platform offering 100% principal protection.

Visit Their Website:

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1 Comment

  1. Kishan
    Kishan May 30, 10:54

    Nice article provided regarding peer to peer lending.

    Reply to this comment

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