Is the crisis an opportunity? Doesn’t this question arise in your mind! Yes, you’re correct!
P2P Lending is an opportunity, where you do not have to use an official financial institution as an intermediary. It connects investors looking for high returns with creditworthy borrowers looking for short-term personal loans.
Now imagine the situation of crisis. Monthly wages deteriorating. Unemployment spikes. The crisis affects nearly everyone. For each one, it is a true disaster. So, during the crisis, the risk of losing the invested money is quite decent. Although investments could be insured and/or secured by the lending platform, the situation is not as easy as it seems.
Let’s understand how you can safely invest in P2P Lending during a crisis like COVID-19 pandemic which is affecting the Indian economy substantially and creating doubtful situations for each one of you.
LenDenClub is one of the best P2P lending platforms in India. The reason is each borrower is assigned their respective risk category after considering their credit history, income, expenses, lifestyle, current obligation, family status and many more factors. As an investor, this information will help you make an informed decision on whom to lend your money to.
All the transactions on P2P Lending platform LenDenClub are transparent. All the fees, charges and commissions associated with each transaction are mentioned. All the procedures are completed online. Therefore, you can lend money hassle-free. To start lending money, you only have to create an account on our platform and complete the required online verification process.