Fintech, in India, is at a very nascent stage and not many are privy to either the products offered or the benefits associated to them. And it is to be seen as complimenting the existing financial institutions rather than disrupting them.
1. No collateral required: unlike a traditional loan, P2P loans are collateral free. Hence if you are just starting out in your career or a startup you need not worry on arranging a collateral (generally more that your loan requirement) for such as loans
2. Flexible amounts: the amount that has to be raised is flexible. For e.g. on Rupaiya Exchange one can borrow as low as Rs. 5000
1. Maximize returns/ better interest rates: typical rate of interest earned via such platforms is upwards of 15% and can touch upto 24% which post tax also is much higher than normal FDs and in some cases even stock market.
4. Choose your own investments: the lending platforms let you choose the borrowers and partly fund their requirement hence increasing the diversification and spreading the risks further.
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