Has anyone used these P2P lending platforms, how has been their withdrawal process and overall credibility
I use cred mint.
Simple.and easy, but don't use it.
Just make an account directly with liquiloans (the nbfc partner) get 1-2% more interest for the same product.
Only problem is the 50L limit per pan, so no compounding if you are at the cap. Deposits land in your account every month.
KYC with liquiloans can take a while.
This one trick that every CEO hates. Sweet.
Hopefully their support is good during withdrawals. Are they bound by any Indian laws?
NBFC's are pretty well regulated. But they source leads from unregulated non banks. SEBI has tried to reduce the risk here by enforcing guarantees on non performing assets.
Use tradecred.Not P2P lending platform. It’s a invoice discounting platform. Better returns, lower risk.
You sound like the uncle who suggests taking mechanical coz it is evergreen.
Better returns? Probably
Lesser risk? Absolutely not
What's guaranteed? Only stress
Better to Use INDMoney or Fi app, Cred has minimum 1L starting deposit
Xtra works great. Easy invesments, hassle free withdrawals. I invest ~35% of my monthly earnings in Xtra and interest earned from xtra goes to stocks/MFs
Every time I hear the name Mobikwik, I am immediately transported to 2016
Anyone got screwed up by Mobikwik Xtra since the RBI updated their P2P rules recently?
I am deadly screwed up now since they have blocked withdrawals.
I have never felt like this in life I guess. I am starting to lose my senses now.
N...
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It is doomed. If they layoff I hope they fire the UI/UX design first for such an atrocious app design
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