Online Peer to peer lending is the process of lending money to any person through online lending platforms. A person who is interested to lend money can become a lender of peer to peer lending and earn good interest money from the borrower through that of money borrowing sites.
The p2p lending platforms function completely online, hence lenders can earn a higher rate of interest on their investments and the borrowers can get better rates.
An individual or business who is looking for a loan goes to a P2P platforms like LenDenClub to borrow money. This borrow money website does the process of loan approval and once it is listed, individual and institutional lenders can lend money to that borrower.
Once the borrower gets funded, he/she starts to make repayments every month. These repayments cover principal and interest which the lenders receive.
P2P lending is a new age investment asset class that has revolutionized investing in the country. In many countries, it is more popular than banks. Based on a simple idea of lending and borrowing, P2P Lending platform uses cutting-edge technology to connect borrowers looking for quick capital injection to lenders looking to earn high returns. Such has been the surge in investments through these platforms that even the RBI couldn’t help but notice it, and in turn, started regulating it. If you aren’t well versed with P2P Lending and it’s functionalities
Read more at : www.lendenclub.com
Read more at : www.lendenclub.com
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