People
are looking out for money which is disposable instantly
for which they are resorting to newer avenues of finance like Peer to Peer Lending in India.
In the recent years, p2p lending platforms also known as are setting up a new trend. With the advancements in
digital technology, P2P lending is made hassle free and less tedious. The
main advantage of borrow money website is that the loan processing is done through a
complete online loan technology-based process.
- The peer to peer lending companies is estimated
to grow to around $4-5 billion by 2020
- A major chunk of the
currently underserved market will be covered under the financial umbrella,
all thanks to
- People that are currently
opting for banks to fulfil their financial needs, would migrate to peer to peer lending websites as the P2P loan application processes are very
efficient. This very trend has been spotted in countries like UK and the
US where P2P lending platforms have become more preferable over banks
- For the lenders on these P2P
platforms, the returns are very lucrative which will continue to be the
case along with more checks and processes introduced by P2P platforms in
order to keep NPAs in check.
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