InvestorQ : What is 5 paisa P2P lending and what are its benefits?
Mitali Bhutta made post

What is 5 paisa P2P lending and what are its benefits?

Answer
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5Paise Expert answered.
3 months ago


The feature has been introduced globally 13 years back and recently 5paisa.com has also adopted the same. Under this feature, one individual can directly obtain loans from other individuals with the help of an organized P2P lending platform. This feature saves the lender and borrower the hassle of contacting institutional intermediary and unnecessary paperwork that sometimes becomes a headache for both the lender and borrower.

The borrowers and lenders can directly connect through the 5paisa P2P platform without the need of any intermediary institution to step-in, they only need to pay certain fixed fees to the 5paisa, which is based on services provided. Borrowers can borrow money at a certain interest rate based on their credit rating, be it for personal needs or business needs. For lenders, this can be an attractive investment option, with an average return of 25-30% annually.

Benefits:

One of the best Platforms: There are several P2P platforms but 5paisa is renowned and generally stands out in terms of customer satisfaction, service quality, and value for money.

Flexibility: Borrowers can borrow at flexible terms without being exposed to too many requirements. They can choose the time period, be it very short-term borrowings or medium-term loans.

RBI Backed: The most important feature of the platform and the entire process is that it is regulated by the RBI and the central bank has issued specific guidelines addressing the same. Therefore, it is highly safe and secure.

Low cost and simple method: The borrowers and lenders just have to pay some fees to get them enrolled with the 5paisa P2P platform, therefore they do not have to spend a big chunk of their income to get this loan.

Opportunity to park idle funds: 5paisa makes sure that for borrowers it is a safe and convenient option to borrow, for lenders, it is a great opportunity to park their idle investments even for a very short time span with the attractive average annual return of 25-30%.