#i2iFunding

[bsathi]

Way to get Personal Loan without Cibil

Getting a personal loan without a CIBIL score (or with a low score) can be challenging, as most financial institutions rely on the CIBIL score to assess creditworthiness. However, some alternative options and strategies can help you secure a personal loan without relying heavily on your credit score.

Here are some options and tips for getting a personal loan without a CIBIL score:

1. Consider Non-Banking Financial Companies (NBFCs)

Many NBFCs have more flexible criteria than banks and may offer personal loans without strictly depending on CIBIL scores.

They may, however, charge higher interest rates or have other criteria, such as stable employment or proof of income.

2. Opt for Peer-to-Peer (P2P) Lending Platforms

P2P lending platforms connect borrowers directly with individual lenders, and many of these platforms do not require a high credit score.

They assess other factors like monthly income, employment stability, and ability to repay. Examples in India include Faircent, i2iFunding, and LenDenClub.

3. Apply for a Secured Loan

A secured loan requires collateral, such as fixed deposits, gold, or real estate, to back the loan.

This reduces the lender’s risk and can improve your chances of approval, as they are less concerned about your credit score.

4. Check with Small Finance Banks

Small Finance Banks often have less stringent lending criteria and are willing to consider applicants with lower or no credit scores.

Many of these banks focus on underserved segments of the population, making them an option if traditional banks are inaccessible.

5. Use Salary Accounts or Payroll Loans

Some banks offer salary advances or loans to salaried individuals based on employment and regular salary credit.

If you have a long-term relationship with a bank where your salary is deposited, they might offer you a personal loan without considering your CIBIL score.

6. Get a Co-Applicant with a Good Credit Score

Having a co-applicant with a strong CIBIL score, such as a family member, can improve your chances of approval.

The lender may consider the co-applicant’s credit history, which can help offset the absence or weakness of your own score.

7. Credit Unions and Community Lenders

Certain community banks or credit unions are more lenient in their lending process and might offer personal loans without strict credit checks.

They often prioritize income and your relationship with the institution.

8. Work with a Lender that Considers Alternative Data

Some newer financial institutions evaluate alternative data like utility bills, rental payments, and mobile phone bills to assess creditworthiness.

If you have a positive history with these payments, these institutions may approve loans without a CIBIL score.

9. Show Proof of Stable Income

Regardless of credit score, lenders are more likely to approve loans for those with stable employment and regular income.

Showing recent salary slips, bank statements, and other proof of consistent income can sometimes help you qualify for a loan.

Things to Consider

Higher Interest Rates: Most of these options involve higher interest rates than loans offered to individuals with good credit scores.

Fees and Penalties: Check for any additional fees, processing charges, or penalties that could increase the cost of the loan.

Risk of Collateral Loss: For secured loans, remember that you risk losing the collateral if you cannot repay the loan.

Using these alternatives can provide access to loans, but be cautious of high-interest rates and potential fees that might make repayments challenging. Additionally, focusing on building your CIBIL score in the meantime will expand your financial options in the future.

[creditfaircapital]

Navigating the Best P2P Lending in India: A Comprehensive Guide

In recent years, the landscape of personal finance has been transformed by peer-to-peer (P2P) lending, particularly in India. Best P2P Lending India platform have emerged as a popular alternative to traditional banking, offering a more flexible and accessible way for individuals to lend and borrow money. But what exactly makes these platforms the best, and how can you benefit from them?

What is P2P Lending?

Peer-to-peer lending is a method of debt financing that allows individuals to borrow and lend money without the need for an official financial institution as an intermediary. P2P lending platforms connect borrowers directly with lenders, providing a streamlined process and often better interest rates for both parties. In India, P2P lending has gained significant traction due to its potential to offer high returns to investors and easier access to credit for borrowers.

Why Choose P2P Lending?

1. Higher Returns for Lenders: Traditional savings accounts and fixed deposits often offer low-interest rates. P2P lending platforms, on the other hand, provide opportunities for lenders to earn significantly higher returns on their investments.

2. Flexible Terms for Borrowers: For borrowers, P2P lending offers more flexible terms compared to traditional banks. This flexibility can include lower interest rates, faster approval times, and more personalized loan terms.

3. Diversification: Investors can diversify their portfolios by spreading their investments across multiple loans, thereby reducing risk. This is a significant advantage over more traditional forms of investment.

4. Transparency: Best P2P Lending India platforms are known for their transparency, providing detailed information about borrowers and loan terms, which helps lenders make informed decisions.

Top P2P Lending Platforms in India

When it comes to choosing a P2P lending platform, it’s essential to select one that is reputable and reliable. Among the top contenders in India is [CreditFair](https://p2p.creditfaircapital.in/), a platform that has established itself as a leader in the industry. Here are some key features of CreditFair and other notable platforms:

CreditFair : Known for its user-friendly interface and robust security measures, CreditFair offers a wide range of loan products and detailed information about borrowers, ensuring a transparent and secure lending process.

Faircent : One of the pioneers in the Indian P2P lending market, Faircent offers a variety of loan products and a strong focus on security for both lenders and borrowers.

LenDenClub : Popular for its efficient matching algorithm and comprehensive risk assessment tools, LenDenClub has become a favorite among both lenders and borrowers.

i2iFunding : This platform stands out for its credit risk assessment tools and investor protection measures, making it a reliable choice for cautious investors.

Getting Started with P2P Lending

If you’re considering diving into the world of P2P lending, here are a few steps to get you started:

1. Research : Start by researching different P2P lending platforms to understand their terms, fees, and the types of loans they offer. Look for platforms with good reputations and positive reviews from users.

2. Registration : Sign up on the platform of your choice. This typically involves providing some personal information and completing a verification process.

3. Investment : Begin by investing a small amount to understand how the platform works. Many platforms offer tools to help you assess risk and choose the best loans to fund.

4. Monitoring : Regularly monitor your investments and returns. Most platforms provide dashboards where you can track the performance of your loans.

The Future of P2P Lending in India

The P2P lending market in India is poised for significant growth. As more people become aware of the benefits and the regulatory framework becomes more robust, we can expect to see an increase in both the number of platforms and the volume of loans issued. This growth will further enhance the accessibility and attractiveness of P2P lending as a viable financial tool.

Investing in P2P Platforms

Investing in the right P2P investment platform is crucial for maximizing returns and minimizing risks. The best platforms offer a combination of high returns, robust security, and excellent customer support. By carefully selecting where to invest your money, you can take advantage of the lucrative opportunities presented by P2P lending while ensuring your investments are safe.

In conclusion, P2P lending offers a compelling alternative to traditional financial systems, providing benefits for both lenders and borrowers. As the market continues to grow, finding the best P2P lending platforms in India and making informed investments will be key to leveraging this innovative financial model. Whether you're looking to lend money and earn higher returns or borrow with flexible terms, P2P lending can be a valuable addition to your financial strategy. 

Explore more about P2P lending and investment opportunities at Credit Fair Capital, your trusted P2P investment platform.

Source url : https://creditfaircapital.blogspot.com/2024/07/best-p2p-lending-platform-in-india.html

[i2ifunding]

“Om Namah Shivaya”

Let’s spend the night of Shivaratri by chanting the name of Lord Shiva and seek his divine blessings! Happy Maha Shivaratri!

#i2ifunding #mahashivaratri #shivaratri #festiveseason#omnamahshivaya

[weelectronicstudentreviewstuff]

Has The Paytm Mall Database Been Hacked? Hackers May Have Asked For Ransom In Cryptocurrency

Has The Paytm Mall Database Been Hacked? Hackers May Have Asked For Ransom In Cryptocurrency

The entire database of online shopping platform Paytm Mallmay have been hacked. At least if the details released by cyber risk intelligence platform Cyble are to be believed. Cyble, the US based company, has said that a known cybercrime group with the alias ‘John Wick’ has been able to upload a backdoor on the Mall application or website and gain unrestricted access to the entire database of…

[marketresearchindia]

India Edufin Market Is Predicted To Be Grown By A Shift In Consumer Preference: Ken Research

Buy Now

India EduFin industry has observed an upward trajectory over the past 2-3 years and is projected to develop even bigger. Growth in the requirement for EdTech courses due to the pandemic has delivered the boost to the education finance industry. Key aspects responsible for growth of the online segment is broader access to internet and smartphones, healthy investment flow in the EdTech space and government initiatives to encourage the online learning in India.

The Covid-19 pandemic has also pushed the market players in aiming towards advancing their product features, collaborations with EdTech players, and technology for better unit economics. The government has also been playing an energetic role in incubating the space for further growth by launching policies & initiatives likewise NEP – 2020, DIKSHA, SWAYAM for assisting the digital education in India.

Report Analysis and Market Players

According to the report analysis, ‘India EduFin Industry Outlook to FY’2026 – Driven by High Adoption of EdTech sector and Increasing Investments from Venture Capital Firms’ states that Byju’s, Toppr, Vedantu, Unacademy, Doubtnut, Adda247, upGrad, Simplilearn, Edureka, Talentedge, Great Learning, Eduvanz, Propelld, Bajaj Finserv, Liquiloans, Zest Money, Early Salary, Capital Float, GyanDhan, PaisaDukan.com, LenDenClub, Rupee Circle, Lendbox, i2iFunding, LazyPay, Avanse and many more are the key companies which presently working in the India EduFin market more proficiently around the globe over the review period for keep maintaining the governing position, leading the highest market growth, generating the highest percentage of revenue, obtaining the competitive edge and registering the great value of market share by spreading the awareness connected to the applications and advantages of EduFin products, implementing the policies of profit making and strategies of expansion, analysing the strategies and policies of government as well as contenders, improving the qualitative and quantitative measures of such, delivering the better customer satisfaction, and decreasing the associated prices of such. 

India EduFin Industry Segmentations

By Number of Loan Disbursed: The maximum number of loans have been distributed in FY’21 to the K-12 classification. The players have proved to have an efficacious track record in the K-12 Segment (such as Aakash, Byju’s and Allen), which fascinates a larger section of the student population to utilize this resource and thus, take up loans.

Request For Sample Report-https://kenresearch.com/sample-report.php?Frmdetails=NTA0Mzg1

By Loan Duration: EdTech  courses for a duration less than 1 year were mostly preferred as these courses are required by students & young professionals who aim on test prep and analytical or upskill and re-skill courses.

By Type of City: With growing urbanization and deep internet penetration, Tier 2 and 3 cities in India are gradually becoming digitized and open to new forms of the educational tools.

By Type of Course: Online higher education has underwritten to the greatest amount of loan disbursals in FY’2021 owing to a much greater ticket size as associated to other EdTech sectors across India.

Future Outlook

The industry revenue is projected to develop with a double digit CAGR during the next 5 years. The industry is predicted to augment on the back of burgeoning investor interest in online EdTech companies, growing internet penetration in Tier-2 and Tier-3 cities and advanced technologies enabling the EdTech companies to launch online platforms. Owing to the Covid-19 outbreak, there has been an augmenting traction towards online EdTech courses, which is projected to confirm the substantial growth during the future.

For More Information, refer to below link:-

India Edufin Market Research Report

Related Reports

Indonesia Online Loan and Insurance Industry Outlook to 2024 : Compelling Incumbents to pursue growth via Product Development & International Expansion

India Web Insurance Aggregator Outlook to 2024 - Challenging Incumbent Distribution Channels of Insurance Products

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[inventivaindia]

[Funding alert] P2P lending platform i2iFunding raises Rs 1.75 Cr from SucSEED Venture Partners

[Funding alert] P2P lending platform i2iFunding raises Rs 1.75 Cr from SucSEED Venture Partners

Bengaluru-based i2iFunding, a RBI registered peer-to-peer lending platform, has raised a funding worth Rs 1.75 crore from SucSEED Venture Partners.

In March 2018, SucSEED infused Rs 5 crore in the startup. The company has raised a total capital of Rs 8.5 crore so far.

Vaibhav Kumar Pandey, Co-founder of i2iFunding, said,

“From January 2018, when SucSEED had previously invested, i2iFunding has…

[amritaagarwal]

Should I Take a Personal Loan to Invest?

Personal loans are designed to provide monetary help for the persons who are in need of urgent fund. The best use of personal loan can be availed if the lent amount is used in medical expenses, urgent travel, marriage expenses etc. But there comes a big question if a personal loan is intended to invest for a high and prompt return.

Dreaming of earning a lot while investing the borrowed amount is probably a bad financial decision. The reasons which have made many financial experts advise people to stay away from investing by borrowing are revealed in this article.

Before knowing the adverse effect of investing by borrowing let us check the available investment options in India. Here are some of the best investment options in India that reap maximum return:

PPF: Public Provident Fund: With a minimum of ₹ 500 up to ₹ 100,000 can be invested and the return on this is tax-free. The current interest rate on PPF account is fixed at 8.7% per annum.

Peer to Peer Lending: Commonly known as P2P lending is an alternative to bank loans. This is a type of investment where the role of banks or lending institutions is eliminated. Any interested person can invest in P2P lending through online platforms. Some of such platforms are Lendbox, i2ifunding, Faircent etc. One can expect around 9.69% return on investment on average seasoned return.

National Savings Certificate (NSC): With the minimum of ₹ 100 deposit, the investor can choose the tenure of deposit as either 5 years or 10 years, the rate of interest on the investment differs as per the tenure. The rate of return on this is about 7.9% as of the year 2017 and maximum ₹ 150,000 tax returns can be filed on the same.

Senior Citizen Savings Scheme (SCSS): With the rate of interest close of 8.4%, this is the best investment option for those who are 60+ years.  This investment is a tax-free investment. Any person is more that 60n years can invest in SCSS through the post office. It offers maximum benefits and maximum returns with minimal investment.

Bank Fixed Deposit: Banks fixed deposits are one of the widely accepted traditional ways of investment. The interest rate and norms may very bank to bank. The interest rate is different for general investors and senior citizen investors. One can invest for a minimum of 7 days and a maximum of 10 years. The return on this investment is 6.75% for 30-day FD scheme, 7.5% for deposit period of 60 to 90 days, 7.75% and 8% for 120- days and 6 months deposit term, respectively.

Sukanya Samriddhi Yojana: One of the great investment options for the parents of a girl child. This is mainly for future benefits of your daughter either for her education or wedding. The return on this investment is about 8.1% per annum.

These are the most popular and minimal risk associated investment options available in India. Investing any of these schemes will bring high return but to get that high return one must invest. Whether a personal loan for investment is a good idea or not can be gauged by checking the given points.

Check the Loan Rates

The basic objective of availing the loan is to earn a profit by investing. So before availing the loan, one must check the interest rate of the loan. The interest rate on the personal loan must be lower than your gain from the investment. One can earn profit only if he has to pay less and earn more.

Study Investment Performance

Before investing one must check the performance of the previous years. Some of the investments such as stocks and mutual funds which give high return comes with high risk of capital loss. So one must do quality research before jumping into the stock market especially when the investment is done with the borrowed money.

Review the Fees

As interest rates of a personal loan bring your profit down, there is another culprit too who will eat up your profit. The next profit consumer is 'Fees'. One has to pay fees to the lender in various names such as processing fee, documentation charges, stamp duty charges etc to the lender. Actually, if a person buys stocks from an online buyer, you have to pay trade commission every time you complete a transaction. Even for investing in mutual funds too one has to pay management fees.

A personal loan for investment may be a risky business but in another hand, the profit of a business is the reward of taking risks only Taking some calculated risk possibly bring you profit in the best scenario. One must do good research on investment plans to earn a profit by investing borrowed money.

[aminalatif]

Pay for surgery via a cheaper P2P loan

BENGALURU: If you need a loan for a medical emergency like a surgery, it might help to turn to your peers rather than institutions. Peer-to-peer (P2P) lending platforms say they have seen lenders willing to offer interest rates between 8% and 12% for medical emergencies on their platforms. On the contrary, if you try to raise funds as a personal loan from banks, the interest rate is likely to be between 13% and 17%. P2P technology platforms bring borrowers and lenders together, and most offer a variety of loans, including personal loans, vehicle loans, educational loans and — in some cases — even home loans. Most lenders tend to be individuals too.

P2P players like Faircent, LenDenClub, i2iFunding and LoanTap say they also process medical loans faster. “It takes banks five-seven days to process a medical or personal loan. We normally process 60% of our loans the same day, and the rest by the next day, including documentation work and underwriting,” says LenDenClub CEO Bhavin Patel.

Amit Patel, 29, a purchase manager in Pune, needed Rs 3.5 lakh for his father’s gall bladder operation. He had only Rs 50,000 in hand, and no insurance. “I approached everyone, and eventually the help desk at the hospital referred me to LoanTap. I took a six-month loan of Rs 3 lakh, and I’m paying an interest of only 1.5%,” said Patel, who was lucky to get a particularly generous lender.

Digital lenders also offer top-up loans and have no charges for foreclosure. “Also, if there is an additional requirement the next time they approach us, we process it even faster (because the platform already has the borrower’s details),” says Patel. Up to 7-8% of LenDenClub’s total loan disbursement consists of medical loans.

LoanTap even offers interest-free medical loans for those with insurance — but this is done to attract users to the platform and encourage them to use it for other kinds of loans. “Sometimes the hospitals will ask the customer to use their credit card (which carries an interest rate of 25-35%) and ask them to get reimbursements from the insurer. This is a loss for the customer. So we came up with the interest-free scheme,” says Loan-Tap chief executive officer Satyam Kumar, which has tied up with select hospitals in Pune, Mumbai and Bengaluru for this facility.

In medical loans, some checks are undertaken by executives of the platforms to ensure the loan is indeed being taken for the stated purpose, and not to, say, buy a mobile phone or to travel. “Our decision-making is a combination of algorithms and human interaction,” says Vishwas Dixit, CEO and co-founder of P2P venture Finzy. Dhiren Makhija, CEO of P2P player Cashkumar, says they are more sensitive when it comes to medical loans.

P2P lending runs the risk of defaults, but the rate of default, at about 2-3%, is no more than for banks. Some platforms take the risk on themselves, assuring lenders that they will make good the money in case of a default. But this is likely an effort to attract more lenders to the platform, considering the segment is new. As P2P matures, risks will likely be borne by lenders.

The post Pay for surgery via a cheaper P2P loan appeared first on Watch Online Pakistani Dramas.

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[cakandivali]

Pay for surgery via a cheaper P2P loan

Latest Updates - M. N. & Associates - If you need a loan for a medical emergency like a surgery, it might help to turn to your peers rather than institutions. Peer-to-peer (P2P) lending platforms say they have seen lenders willing to offer interest rates between 8% and 12% for medical emergencies on their platforms. On the contrary, if you try to raise funds as a personal loan from banks, the interest rate is likely to be between 13% and 17%. P2P technology platforms bring borrowers and lenders together, and most offer a variety of loans, including personal loans, vehicle loans, educational loans and — in some cases — even home loans. Most lenders tend to be individuals too.P2P players like Faircent, LenDenClub, i2iFunding and LoanTap say they also process medical loans faster. “It takes banks five-seven days to process a medical or personal loan. We normally process 60% of our loans the same day, and the rest by the next day, including documentation work and underwriting,” says LenDenClub CEO Bhavin Patel.Amit Patel, 29, a purchase manager in Pune, needed Rs 3.5 lakh for his father’s gall bladder operation. He had only Rs 50,000 in hand, and no insurance. “I approached everyone, and eventually the help desk at the hospital referred me to LoanTap. I took a six-month loan of Rs 3 lakh, and I’m paying an interest of only 1.5%,” said Patel, who was lucky to get a particularly generous lender.Digital lenders also offer top-up loans and have no charges for foreclosure. “Also, if there is an additional requirement the next time they approach us, we process it even faster (because the platform already has the borrower’s details),” says Patel. Up to 7-8% of LenDenClub’s total loan disbursement consists of medical loans.LoanTap even offers interest-free medical loans for those with insurance — but this is done to attract users to the platform and encourage them to use it for other kinds of loans. “Sometimes the hospitals will ask the customer to use their credit card (which carries an interest rate of 25-35%) and ask them to get reimbursements from the insurer. This is a loss for the customer. So we came up with the interest-free scheme,” says Loan-Tap chief executive officer Satyam Kumar, which has tied up with select hospitals in Pune, Mumbai and Bengaluru for this facility.In medical loans, some checks are undertaken by executives of the platforms to ensure the loan is indeed being taken for the stated purpose, and not to, say, buy a mobile phone or to travel. “Our decision-making is a combination of algorithms and human interaction,” says Vishwas Dixit, CEO and co-founder of P2P venture Finzy. Dhiren Makhija, CEO of P2P player Cashkumar, says they are more sensitive when it comes to medical loans.P2P lending runs the risk of defaults, but the rate of default, at about 2-3%, is no more than for banks. Some platforms take the risk on themselves, assuring lenders that they will make good the money in case of a default. But this is likely an effort to attract more lenders to the platform, considering the segment is new. As P2P matures, risks will likely be borne by lenders. Chartered Accountant For consultng. Contact Us: http://bit.ly/bombay-ca

[i2ifunding]

The key to wealth generation is not saving but investing. Not only it is imperative that you invest for a better future, but also that you invest smartly. Here are 5 Smart Investment Habits that will help you build wealth:

[amritachaturvedi-blog1]

The Reserve Bank of India on Wednesday provided that clarity, bringing P2P lending platforms on a par with non-bank finance companies. And the opportunity is huge. More than 30 such startups have come up in the last four years, including Faircent, i2ifunding, LenDenClub and Billionloans.

[startupbharat-blog]

FAIRCENT: Peer-to-peer lending marketplace

New Post has been published on https://startupbharat.net/2017/08/11/faircent-peer-to-peer-lending-marketplace/

FAIRCENT: Peer-to-peer lending marketplace

Peer-to-peer lending platform Faircent, which caters to retail and business loans, has raised $1.5 million funding from Brand Capital, the Bennett Coleman and Co (BCCL) arm for ad-for-equity investment.

Faircent was founded by Rajat Gandhi, Vinay Mathews and Nitin Gupta in 2014. In two years, it has over 6,000 and 26,000 registered lenders and borrowers, respectively and has disbursed total loans amounting to Rs 6.5 crore.

P2P lending marketplaces have been a growing phenomenon in the country.  Over the years, a number of entrants have forayed into this space, including Lendenclub, Loancircle, Loanzen and i2iFunding. According to reports,  20 new online P2P lending companies were launched in 2015 and now the total number of lending platforms in the country is 30. In China, the number of such platforms is supposedly more than 2,000.

With the RBI’s new proposal that intends to regulate the peer-to-peer platforms, lending platforms will now be registered as non-banking finance companies (NBFCs). This will help the central bank keep a check on these platforms. The RBI had also hinted that P2P platform may be required to have a brick-and-mortar place of business, while having management and operational personnel of the platform to be headquartered within the country. The platform is also expected to have adequate risk management systems for its operations.

FOR MORE LOG ON TO : http://www.faircent.com

[i2ifunding]

Keep running and never look back. https://www.i2ifunding.com/

[i2ifunding]

Things you should check before opting for P2P lending for higher returns

[i2ifunding]

[i2ifunding]

Think of a situation where you have an urgent requirement of money. You either ask for it from your friends and relatives or visit a bank to apply for a loan. In the first case, there are high chances of rejection, and the second case requires a good deal of paperwork and verification checks and might take days or, in worst cases, up to a month. Now imagine a situation where someone has some extra cash that they want to invest for higher returns but is unable to find an avenue for the same. A Peer to Peer Lending or P2P Lending platform is an NBFC, which acts as a bridge between the lender and the borrower by providing both with a place to meet and sign the deal.