BharatPe, a banking institution, operates the 12 percent club app for borrowing and investing. One of the largest Fintech companies in India is 12 Club bhratpe p2p lending platform. If you invest at 12%, you might earn up to 12% interest on your money.
With the introduction of its product, peer-to-peer (P2P) lending startup 12 Club bhratpe p2p lending expands its consumer play and forays into the financial services and merchant payments sectors.
Individual investors will be able to borrow money at 12% interest through the 12 percent club app thanks to BharatPe's peer-to-peer service.
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As part of the customer solution that LenDenClub and Club BharatPe collaboratively developed, Liquiloans are now being onboarded by Club bhratpe p2p lending platform. In 2019, the fintech company offered its merchants peer-to-peer lending through the same partners.
P2P investors will lend to its merchants on the 12 percent club app platform in order to keep delinquencies low.
The company stated that it will be able to analyse these loans more precisely based on corporate cash flows because these stores accept payment through the BharatPe system. The business added that it will deduct a modest amount from daily reimbursements to aid in the repayment of this debt.
By offering loans to their customers, reputable non-financial organisations (NBFOs), like Hindon Mercantile, would encourage borrowing on the 12 club bhratpe p2p lending.
12 percent club app had first launched
We gave the product a soft launch earlier this month and think the 12 percent club app is a good place to invest extra money without taking on the significant risks associated with stocks. It also gives participants complete freedom to withdraw from the offering at any time. Concentration when lending to a small cohort is not a problem because bhratpe p2p lending has millions of merchants.
The typical loan term, according to Grover, will be three to twelve months on the platform.
Private investors have now contributed $5 million each month to the 12 percent club app, and $1 million in loans have been made.
Although the majority of the increase has come from recommendations, the firm says that the programme receives close to
12 percent club app recently raised $370 million in a main and secondary mix as part of a Series E fundraising round, led by new investor New York-based Tiger Global Management, to enter India's coveted unicorn league with a $2.85 billion valuation.
12 percent club app lending is not a new feature.
In 2017, the Reserve Bank of India had brought this service under its regulatory purview.
Even at the time, there were more than 20 12 P2P lending players in the market but RBI’s regulations ensured only the serious ones with watertight business models remained in the sector.
In p2p lending, users sitting on idle money provide loans to potential borrowers identified by the service provider.
These 12 percent club app lenders then receive payments from the borrowers on a set basis — either one time, or in equated monthly instalments.
After RBI issued its regulations in 2017, the space saw a spree of fundraising
bhratpe p2p lending Involving some of the existing players in the segment.
Some of the major companies operating in this space include RupeeCircle, Finzy, IndiaMoneyMart, etc.
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One of the biggest risks associated with this kind of lending is the non-repayment of loans.
Given that 12 percent club app lending is a form of unsecured loan. There is no guarantee put up by the borrower for the lender to redeem in case of a default.
However, the unsecured nature of the loan is also the reason behind the high return on investment.
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About 12 percent club app?
“Consumers on the 12 club can invest their savings anytime by choosing to the lend money through partner 12 club p2p
Additionally, a consumers can avail collateral-free loans of up to Rs. 10 lakh on the 12 % for a tenure of 3 months, as per their convenience, the statement said.
There will be no processing charges or pre-payment charges on the consumer loans,
The loan eligibility would be determined by various factors, so it also added.
Including consumer’s credit score, shopping history using Payback loyalty system or the payments done via BharatPe
Consumers investing via app can put in a request to withdraw their investment anytime, partially
Or completely, without any withdrawal charges.
At present, the upper limit for individual investment is Rs. 10 lakh.
This would increased to Rs. 50 lakh over the next few months.
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Conclusion
The advent of the P2P lending by 12 percent club app serves as an example. How financial technology companies want to provide cutting-edge services. You may give captive audiences the chance to earn and borrow money at rates that are competitive with the market while still keeping them inside the ecosystem.