What is peer to peer ?
Peer to Peer lending, also known as P2P Lending, is a financial innovation which connects verified borrowers seeking unsecured personal loans with investors looking to earn higher returns on their investments. Verified borrowers are listed on the P2P lending platform, Investors can see all the details about the borrowers before lending money to them. Investors have the option to lend small amounts to multiple borrowers to diversify their investments.
Peer to Peer Lending is already a hugely successful model for alternate financing across globe. In India, P2P Lending is gaining traction at very fast pace and slowly becoming a very attractive investment option for investors. RBI has already taken a cognizance of this innovation and come up with regulations for the sector.
Post registration, open the borrower account by filling a simple online form and uploading all the relevant documents. Please remember, the more information and documents you provide, better is the chance you stand to get lower interest rates.
i2i considers more than 50+ parameters like education background, employment stability, debt income ratio etc. apart from CIBIL to assess your true credit profile and then recommends interest rate and risk category for the loan.
After your loan request has been assessed by i2i, you should make your loan live on i2ifunding.com through My Account section by setting interest rate and expiry date. Please note that you can increase interest rate of your loan to make loan more attractive to investors.
Once all legal formalities have been completed,Individual investors will transfer money to Nodal Escrow account and from Nodal Escrow Account money will be transferred to your bank account. Post which you need to repay the loan as per the terms mentioned in the agreement. You may also choose to prepay loan without any penalty.
Why Invest at i2i
The Reserve Bank of India has also notified Peer-to-Peer Lending institutions as Non-Banking Financial Companies (NBFC-P2Ps) as it has potential to increase financial inclusion at attractive costs.
High Returns for Investors Earn up to 30 % returns. If u want to know more about this platform so reply it