Earlier this month, Fi, a neobank announced that it would offer P2P lending to its customers with returns of up to 9%. P2P, or peer-to-peer, lending involves a digital platform aggregating borrowers and lenders, essentially performing the role of a bank. View Full Image Mint How it works P2P loans are personal loans and they generally fetch an interest rate …
The higher the risk, the higher the return. That’s what the new-age Indian fintech startups liek Cred and BharatPe are aiming to do with their recently launched P2P lending products. The unsecured nature of the loan is the reason for high interest rates Cred mitigates the possibility of a default by lending only to customers who have been using its …
