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Is Faircent a good investment?
This is a fake company they will take 500 rupees and will not process your loan. Even if you have good CIBIL score they will cancel the loan request. Do not invest money here.
Is Faircent Loan Safe?
Infact, Faircent has a strict borrower selection criterion. Although, this is unsecured lending, lenders can seek legal help and Faircent also has a soft recovery and collections process to ensure the safety of the monies invested through the platform.
What is Faircent?
Faircent.com is an online social lending initiative that brings together potential borrowers and investors. Borrowers or investors can apply or offer loans as the case maybe, by registering on www.Faircent.com takes care of all the transaction documentation for both, borrowers and investors.
Which is the best P2P lending site in India?
Platforms Facilitating Peer-to-Peer Lending in India
| Name of the P2P Platform | Interest Rate (p.a.) | Repayment Tenure |
|---|---|---|
| Faircent | 9.99\% onwards | 6 months to 36 months |
| OMLP2P | 10.99\% onwards | 3 months and 36 months |
| i-lend | 15\% onwards | 6 months to 36 months |
| LenDenClub | 6.5\% onwards | 3 months to 24 months |
How does P2P lending make money?
The Loan. As each payment on the loan is made, a portion of the payment (which consists of interest and principal) returns to each of the individual investors involved with the loan. The profits are available for you to reinvest in other loans or cash out. Each P2P lending platform charges a small fee for investors.
How can I invest in peer to peer lending in India?
India’s Most Trusted P2P Lending Platform
- #STEP1 Register With RupeeCircle. Create your account in 5 simple steps including profile, document submission verification, application and approval.
- #STEP2 Choose Your Loan. Choose the offer with the terms that work the best for you.
- #STEP3 Get Your Funds.
What are the risks and disadvantages of peer-to-peer lending?
Nevertheless, peer-to-peer lending comes with a few disadvantages:
- Credit risk: Peer-to-peer loans are exposed to high credit risks.
- No insurance/government protection: The government does not provide insurance or any form of protection to the lenders in case of the borrower’s default.
How does peer-to-peer lending work?
Peer-to-peer lending websites connect borrowers directly to lenders, known as investors, who loan money to qualified applicants. It’s an alternative to borrowing money from a bank or a more traditional online lender. Each website sets the rates and the terms (sometimes with investor input) and enables the transaction.
How does Faircent earn money?
Faircent undertakes a comprehensive verification process based on personal, financial and professional information provided of all its registered Borrowers and Lenders. Thus, lenders can fund a portion of the total loan requirement of multiple borrowers and borrowers can seek to raise money from multiple lenders.
What is Faircent P2P lending?
Faircent.com (Fairassets Technologies India Pvt Ltd) becomes India’s first P2P Lending platform to receive a Certificate of Registration (CoR) as an NBFC-P2P from the Reserve Bank of India (RBI). How Do I Get Started? Check out your monthly loan payments, both interest and principal payments, by setting loan amount, tenure and rate of interest.
What is peer to peer lending (P2P lending)?
Peer to peer lending (or P2P lending) is one of the most innovative financial products of recent times. It enables creditworthy borrowers lower their cost of loans and individual lenders/investors to lend directly to their peers and community thereby earning higher returns.
How does the loan process work with Faircent?
The process starts with the borrower entering into a formal contract with the lender/s, all of which is coordinated and provided by Faircent. The overarching conditions of the contract are set by Faircent, but the final details are negotiated by the lender and borrower.
What is Faircent and how does it work?
What we at Faircent.com essentially do is provide a virtual market place where borrowers and lenders can interact directly, without having to go through the traditional financial intermediaries like banks, who have become such behemoths in today’s time that they dictate all terms and conditions for both borrowers and lenders.