InvestorQ : What is the peer-to-peer lending platform launched by 5Paisa and how does it work?
Anjana Aiyar made post

What is the peer-to-peer lending platform launched by 5Paisa and how does it work?

Answer
user profile image
Arya Nanda answered.
4 months ago


5paisa.com launched its peer-to-peer (P2P) lending platform. This is a peer group lending platform where amounts ranging from Rs.500 to Rs.50 lakhs can be lent and the rates of interest vary based on the credit profile. For lower rated borrowers, the rates can go as high as 36%. The lending activity is totally paperless, transparent and digital. This platform can be extremely useful for small businessmen and individuals who do not have avenues to borrow. It also allows lenders to allocate idle money for higher returns. The P2P platform screens borrowers coming on the platform with more than 100 variable data points like age, location, earnings, previous loan history, social profile, expenditure etc.