You must have read our previous week’s blog on the growing popularity of borrowing amongst millennials through Peer-to-peer (P2P) lending (If not read yet, click here).
That’s not it! We have a good number of investors as well, who are millennials investing on our platform.
While some millennials might need the money and be the borrower, on the other hand, we have millennials who are investing in P2P lending. Millennials are approaching investing in an entirely different manner from parents and grandparents. While Baby Boomers only put away an average of 11% for investing, Millennials who can save put away as much as 18%, the BlackRock survey found. While Millennials can sometimes be wary about investing, the availability of applications is making it easier and more comfortable for them to learn and experience.
Embracing Innovation And Tech-Savvy
In a digital world, they are the first to be born, and hence technology has always been a part of their everyday lives – it’s been estimated that they check their phones as many as 150 times daily. Millennials are taking benefit of a variety of high-tech and social media tools that allow them to plow their wealth into the investments of their choice. They are now leveraging social networking platforms, websites, and mobile apps to do everything.
Back in the old days, putting your life savings in the bank was prized with decent interest rates but over time it has reduced. These days, the bank might be a safe place to store your cash, but it’s not necessarily the smartest place to put it. Millennials need quick returns after investing but stocks these days are too risky and highly volatile. And not getting involved in risk is beneficial is what they think.
Have you heard about Peer-to-peer lending as the best place for your investment?
P2P being a completely digital-based platform, it is extremely convenient for the millennials to access. They can broaden their portfolio with easy investments and earn up to 17% p.a net returns. These investments help you mitigate your risk, diversify your portfolio, and maximize your returns by investing as low as ₹ 500 across multiple borrowers on the platform. Also, P2P is the only high return instrument to fetch monthly cash flows with interest payments. Unlike other investing instruments, cash flow is not tied to maturity and starts immediately, which is what the millennials these days are looking for easy and better returns.