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Bank alternative to Loan - P2P

Discussion in 'Insurance & Loan Reviews' started by ramjn, Jun 16, 2014.

  1. ramjn

    ramjn Staff Member Janitor

    Messages:
    5,342
    Chennai
    Linea 1.3
    You need to borrow Rs 1 lakh urgently. A bank would charge you 18-24% depending on your credit history and repayment capacity. At the same time, someone in another part of the country wants to invest Rs 1 lakh in a safe avenue. A bank deposit will yield around 9-10% a year but he's looking for a better deal without any risk. Wouldn't it be great if you could meet that person and offer him 12% on his money? After he checks your income details and repayment record, he might agree to lend one lakh to you.

    Till now, finding that individual was like searching for a needle in a haystack. But a clutch of companies is bringing prospective lenders and borrowers together. You can register online and meet people who are willing to lend or borrow from you. "We are an e-Bay for loans," says Rajat Gandhi, CEO of Gugaon-based Faircent, which began operations last year and has already disbursed loans to 123 borrowers.

    P2P Links
    i-lend | Peer to Peer Loans, Personal Loans, Home Loans, Auto Loans, Educational Loans
    https://www.faircent.com/

    Source: Need a loan? P2P portals can help you borrow at lower rates - The Economic Times
    7 people like this.
  2. bookmypersonalloan

    bookmypersonalloan Timido

    Messages:
    1
    Bangalore
    Bangalore
    Avventura Abarth
    Nice information. Thanks for sharing.
  3. Nazgul

    Nazgul Timido

    Messages:
    17
    Bangalore
    Grande Punto 1.3
    Is it truly worth the RISK for the additional 2-3%?

    I haven't gone through the fine print, however where does the buck stop when RISK kicks in? The fear of defaulting is yet to be realized by the masses considering how the CIBIL information is currently being utilized.. You would be out of your mind to default if you were state side, considering it effects a lot of other elements of a persons life including their jobs!

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