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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

    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

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

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