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Pranav, 27 years old, a software engineer, Bangalore.

He never thought he would find such a wonderful bride this soon.  Got engaged.  It was thrilling and exciting.  The phase of waiting.  Waiting for that wonderful woman to step into his life and tell what he should do and what he should not.  Time flew by.  The wedding date was just around the corner.  The initial excitement slowly subsided and it dawned upon him that life would not be the same any more.

Is he ready for married life?  What about his financial stability? A project manager in an MNC, he takes home a good package and has been honoured with bonuses at the right time.  But, in life, particularly after marriage, not everything can be planned and predicted. Some unexpected expenses would come up.  A birthday party, housewarming function, weekend trip, purchases on impulse, hospital emergency…Everyday it will be a rollercoaster ride and some spare money in hands is crucial for a married man.

Pranav realizes that he needs a second income to lead a hassle free happy married life.  How can he rely on one single salary for which he has to wait for a month? A 30-day cycle is too long for this fast paced lifestyle.

Gopi, 26 years old, a BPO employee, Mumbai.

A charmer, he always gives his best to her.  Last February 14th, it was a trip to Goa.  No one can be as creative as he is in fabricating occasions for gifts.  Can you guess how much he spends on gifts?

He never settles for anything less than 10 K!

You may wonder – a BPO employee, in the beginning stage of his career, how can he manage all these expenses?

He stays awake all night to attend the calls pouring from all around the globe – the labour of love.  Even though he works very hard to earn, he would exhaust his salary in the middle of the month.  He wished he had some extra money in his hands regularly so that he could impress her with more surprise gifts and outings.  However, a part-time job is not an option.  Already he is burning his soul round the clock at his current job.  No time or scope for such enthusiastic ideas.  He has some savings that’s in hibernation mode.  No movement.  No growth.  He can use it as capital to earn extra income.  But how? One mutual fund promises good returns in 36 months.  But there is a Saturday and Sunday every week.  He wants to see the returns sooner.

Karthick, 29 years old, a VFX artist, Chennai.

A responsible guy, the entire burden of his family on his shoulders, he has to keep an eye on every penny he spends.  After office hours, he comes back home and starts working on the projects he has committed on a freelance basis.  Even in the late evenings, you can spot him at his home, in the hall, sitting in front of his laptop, working; his wife in the kitchen; his kid, a toddler, laughing and screaming and walking around in the room.  A family man at work.  Always.

One thing that makes him lose sleep in the nights is, he hasn’t started saving or investing yet.  Sometimes it’s terrifying for him to think that there is no backup.  Now, whatever he earns in a month, in 30 days, is spent to survive the next 30 days.  The lion goes for a hunt, comes back with a prey, feeds the family.  The next day, the lion goes for a hunt.  Life cannot be like this forever.  The family needs a backup.  For dry seasons.  To manage emergency expenses.  With a blink ofan eye, the kid would grow up and be ready for schooling.  The family expenses would keep on increasing in the future.  Apart from creating wealth and backup, there are festivals and occasions every month and the couple has to put a decent show in front of relatives, friends and neighbours.

Three different stories.  The conclusion is the same.  Be it Pranav or Gopi or Karthick, the reasons might be different.  The lifestyle might be different.  But what they need is ultimately money.

Million problems.  One solution.  And that is money.  Who can deny it?

Working and living in different cities, all 3 need some extra income regularly and have chosen to invest in peer to peer lending platforms.

While there are a range of traditional models and hundreds of options available in the market to invest, why did they choose p2p lending sites?

Because they cannot afford to take a risk.  Having said that, they want to earn solid returns from the very beginning.Not sure whether it is possible with any of the traditional investment models. But an efficient and transparent peer to peer lending site can meet all the above mentioned demands without putting the hard earned money at risk.

For example, at LenDenClub, one of the largest online money lending sites, you can invest an amount of your choice and start earning solid returns immediately after investment.

Furthermore, the investment is diversified among as many borrowers as possible and thus the risk of poor performance is mitigated.

Flexible investment options.  Immediate returns.  No volatility.  All make sense.

So…Happy investing!

The post Peer to peer lending platforms – Young generation’s favourite choice for investment! appeared first on LenDenClub.

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Maybe it took some time, some years, for you to settle in a stable job.  Maybe you were not one among those folks who got placed in MNCs during the last semester through campus interviews.  After graduation, you might have spent some time dabbling in some own business ventures.  Small ones.  And it didn’t shape up well.

Or you might have spent some years talking to that beautiful girl, without even being aware of what’s happening around you and where the world was heading for.  After she got married to a guy, to a ‘project manager’ who had been to San Francisco or Chicago for on-site projects, after the eye-opener, you got enlightened, found a job, worked hard and climbed on the ladder.  You reached a position of which you feel proud.

Now, you take pride in the fact that you have been paying income tax, the respect you enjoy and the responsibilities you have, that whenever you start talking to people around you, they lend an ear eagerly because you are a success and they want to emulate you.

But, in one aspect, you lag behind.  Savings.  Investments.  You are not alone though.  Most of the guys who began their career from zero in their late 20s are with you.

So what.  Let’s plan.  But, you cannot avoid that one thought that keeps on popping up in your mind as you go through the enticing ad banners on the Internet which prompts you to “Invest Now” – You should have started earlier.  Generally, mutual funds, a popular investment model in the market, consume a good amount of time to ripe.  A college junior, who got placed in an MNC during his last semester, who started investing at the age of 21, opined over WhatsApp that even if you start now, it may take more than a decade to see solid returns in your hands.  The duration and maturity periods mentioned in the websites of banks and famous investment companies are discouraging and disheartening.  Who can wait for years?  You are planning to get married next year.  You are planning to buy a car this year.  You cannot shell out a significant amount of money and wait for years.

But then again, is there any option?  An option from which you can reap benefits sooner. There might be and there must be.  But, it’s a risk to try such options.  They promise a bomb and suddenly one day they disappear. Why lose hard earned money?

Immediate returns and no risk are like day and night.  Can they exist together?

Yes.  They do.  On a reliable and transparent peer to peer lending platform.

For example, LenDenClub, one of the largest peer to peer lending platforms in our country, has rapidly been gaining popularity among those who want to reap solid returns immediately after investment.  Traditional investment models demand a tiresome process and it might take years for maturity.

Whereas, a well-maintained investment portfolio in a reliable online money lending site can fetch up to 30% annual returns which is not on the radar with other models.

Furthermore, the swift process, continuous support and guidance and flexible investment options have made LenDenClub the most soughtafter investment destination in the market.

So, for those who think they have started investing late in life, a peer to peer lending platform is the best choice to make up for what has been missed in the past.

Invest an amount of your choice at LenDenClub and start earning solid returns immediately after the investment.  Also, with your investment diversified on a range of profiles across categories, the risk is mitigated and no volatility.

Immediate returns.  No volatility.  Let’s go ahead and make the most out of it.

After all, life begins at 40.  Why not investment?  Happy investing!

The post Started investing late in life? No worries. Let’s make the most out of it! appeared first on LenDenClub.

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Let’s begin the conversation with some intriguing questions.

In the last few months, how much money have we borrowed?  Did we pay it back on time and honour the commitment?

If not, what are the reasons?  Do we borrow wisely? Or do we make decisions on a whim?

The answers vary from person to person.

There ought to be a well thought out strategy behind our borrowing. Do we have one?

Anyways, no two people handle debts in the same way.

Let’s discuss the art of borrowing!

Ideally, we should manage our expenses efficiently and avoid borrowing.  Point taken.

But, is it a sin to do so? The catch is, when to borrow and how to pay it back effortlessly without any hitches.  What if you borrow only when you need money badly?  It sounds like a cliché advice, but it’s not!  The thought of borrowing is tempting.  It’s like falling in love.  We should think well before we fall.  Shouldn’t we?

Next, borrowing in the month ends is actually not the right move.  Here is a convincing reason to justify the claim.  During month ends, with just a few more days to go for the salary to get credited, we tend to take the borrowed money for granted and end up spending it mindlessly.  (Salary will be credited tonight!)  Knowingly or unknowingly, we fail to bear in our minds that the borrowed sum is precious and every penny should be spent in an efficient useful manner.

Moreover, once we make up our minds to borrow, our friends’ and relatives’ smiling faces start popping up in our minds.  But, when you ask for help from friends and relatives, you put at risk the wonderful relationships which have been going on for years and years without any frictions.

Instead of borrowing from friends and relatives which may end up in bitter experiences, why don’t you choose alternative options?

Now, you have hundreds of ways not only to spend money, but also to access that hot cash.  Money borrowing sites and personal loan websites don’t need an introduction.  By following simple procedures, you can get cash loans from authentic lenders through the best online lending sites.  For example, InstaMoney, LenDenClub’s cash loan app, is well-known among salaried individuals for instant cash loans.  You can apply for cash loans round the clock and get the amount deposited in your bank account in just 2 hours.  It’s really instant!  The innovative app with its hassle-free process will make your borrowing and paying back a joyful experience.

LenDenClubs, one of the best lending websites in our country, has already become a reliable destination for people who look for hassle free instant cash loans and personal loans.

So, for a smart borrower in you who thinks well before falling in love, LenDenClub’s InstaMoney and any purpose personal loans come as a perfect match.  Borrow smart!

The post Are You a Smart Borrower? appeared first on LenDenClub.

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You have received a salary bonus.  Voila!  Now, you have some spare money in your hands.  You don’t want to lash it out on gadgets and parties.  All gadgets do the same thing – they eat your precious time!  All parties give you the same thing – A hangover next morning!

Let’s plan something wisely.  What about investing?  The other day, your friend has talked big about mutual funds.  Good idea.  But wait.  “Net Asset Value (NAV) of the units of the scheme will be computed by dividing the net assets of the Scheme”.  What on earth does it mean? Going through the jargons, either you fall asleep or are frightened.  You want to go with something simple and easy to decipher.  Also, that impatient enthusiastic person in you cannot wait for months and years to reap benefits.  You want to taste the fruits fast.  Now, with some money in your hands, how can you take an avatar of investor and start earning good returns from the very beginning?

Not able to connect yourself with the paragraph above? Is it not you?

Okay! You haven’t got the bonus.  You don’t have that spare money in your hands.  In fact, you are going through financial crises.  You need some money urgently.  Right this moment you are worried about how to arrange that sum.  So, you are on the other side of the game.

For both of you – the one who got the bonus and the one who needs some money urgently, online lending platforms come as a handy option.

a) To invest your hardearned money on reliable borrowers and start earning extra income from day one.

b) To borrow money and get cash loans instantly by following simple procedures when compared to banks and other conventional financial institutions.

People and industry coined an apt name for it – peer to peer lending.

Of course, spending a good amount of time with Google on a daily basis, you know what it is, but there is nothing wrong in starting from basics.

Now, what is it?

First of all, it’s simpler than you think!  It’s really simple, fast, convenient and reliable.

As you know, borrowing and lending are as ancient as mankind.  It’s just that with the latest technologies, the process has been made hassle free and fast.  People who need money and people who lend money come under one roof, connect, lend, borrow and benefit from each other.  Online lending platforms provide lenders and borrowers with a platform backed by the latest technology, bridge the gap and connect people from both sides.

The entire process takes place through mobile apps / online platforms / websites and users get updates in real time.  No need for frequent visits, waiting for days, frequent phone calls to know the status of loans and approvals.

For a busy and ambitious country like ours, peer to peer lending websites are a convenient option for borrowing and investing money at your convenient time and place without visiting banks and financial institutions frequently.

For that ambitious investor in you,

1. Peer to peer lending websites are super convenient!  No need to follow so many tiresome irritating procedures.  Manage all your investment related activities through mobile app / lending platform.  Apart from all other advantages, you can save a great deal of time and effort.

2. Choose your borrower.  LenDenClub, the largest peer to peer lending platform, empowers you to analyze in detail the profiles of borrowers and choose wisely.

3. Choose the figure!  No fixed figures for investment.  From a range of flexible options, you can cherry-pick one that suits you.  At LenDenClub, the largest peer to peer investing site in India, you can start from as low as Rs. 500!

4. Earn more!  Get higher interest rates when compared to traditional investment options.

5 Keep things under control!  Keep track of paybacks and due dates.  To put it in one word, investment management at your fingertips.

For that borrower in you who needs money,

1. Peer to peer lending websites are a convenient option when you need money instantly.

2. Swift approvals!  You don’t have to go through nail-biting moments wondering whether your loan will be approved or not.  Get instant updates, follow easy, hassle free process and get approvals swiftly.

3. Quick cash disbursements and convenient payback options!  For example, if you are using InstaMoney, LenDenClub’s money lending app, you can get cash loans instantly and the loan amount will be deposited in your bank account in just 2 hours!

4. Avail cash loans 24 x 7.  Gone are the days when people would form queues in front of counters at banks and discuss and debate cricket, cinema and politics until their turn comes.  Now, through peer to peer lending sites, you can avail loans instantly round the clock.  No need for frequent visits and waiting for days and weeks.

5. Get cash loans at any time to fulfil any purpose, and yes, you don’t get stuck.  You don’t have to postpone things.  You don’t have to postpone life!

The post Peer To Peer Lending Decoded! appeared first on LenDenClub.

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For starters, let’s understand what is peer to peer investing.  It’s an innovative investment method by which an individual with investment capabilities lends money through an online platform / mobile app to another credible individual who needs money. The online platforms / mobile apps enable, coordinate and facilitate people to lend and borrow money swiftly.  The entire process takes place through the mobile app and a great deal of time and effort are saved.  Then, the borrowed sum with interest is paid back to the investor on an installment basis as agreed.  But, what’s so special about it?

To begin with, it’s hassle free!  You don’t need to plow through reams of documents and strain your brain reading between lines!No need of squeezing your eyes to decipher what’s written in the fifth page of terms and conditions under the bullet point 23a.

Above all, you don’t have to wait for months and years to reap benefits.  By investing in peer to peer lending, you can start earning extra income from the very first month.

As an investor, you get back the money with higher interest rates when compared to traditional investment options like mutual funds and fixed deposits. No wonder, P2P lending for investors has already become a preferred choice for those who look for hassle free investment options to earn returns quickly.  Moreover, you invest your money on verified responsible borrowers and not on any business or service and there is no volatility.

The above mentioned points are tempting enough. Nevertheless, as a responsible peer to peer lending platform in the market, we would like to share with you some thoughts.

Here it goes! A good peer to peer lending platform should empower you to access the profiles of borrowers and choose wisely.  You invest your hard earned money and you decide how much you lend to whom!  Interest rates might be enticing.  But, we shall bear in our minds that consistent support and service from the lending platform all through the process is as important as how much money you mint every month. When you invest in peer to peer lending websites, make sure you invest your money on reliable sources / verified borrowers.  Of course, you can invest that extra income again in peer to peer lending, give a boost to your investment and grow your money exponentially.

Furthermore, you can start your investment with a small sum in peer to peer lending platforms. At LenDenClub, India’s leading peer to peer lending platform, you can start from as low as Rs. 500. With a range of flexible investment options and higher interest rates, the platform has attracted and acquired thousands of investors – registered lenders – who have been earning ample returns every month.

For the aspiring Indians who have for all these years been just spectators in the investment field, this innovative investment option that promises quick returns has come as a boon. Now, everyone can invest.  Everyone should invest.  Happy investing!

The post Why peer to peer lending platforms are a prudent choice for investors? appeared first on LenDenClub.

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A fantastic weekend outing with your friends.  The latest smartphone with 20 MP back camera.  Your little daughter’s birthday party.  Above all, that medical checkup you have been postponing every month!

We want to do a million things in life.  But we never ever have that spare money in our hands and we keep on postponing them.  Right from buying the latest gadgets to scheduling crucial medical checkups, the list goes on.Even postponing a trivial wish like buying a shirt of our favorite brand could be disheartening.  Sometimes, we need some things, if not everything, instantly.  Don’t we? Let’s give a thought about it.  Just in the last 3 months, how many times we must have stuck in circumstances when we needed some cash immediately?  The sum might have been small.  But the timing and situation must have been critical.  On such instances, how to swiftly acquire some hot cash in our hands and get rid of the problems? We could ask our friends.  Or, why not, we could ask our relatives.  But why bring money in-between good relationships.  Even epic friendships break because of conflicts over money.

Then, how to get cash instantly?  It’s really a million-rupee question!

Like any other industry, the financial sector has also been witnessing a revolution with the big bang of Internet.  No exaggerations.  The process of borrowing and lending has been redefined with the latest technological innovations.  Now, one can get cash loans through mobile apps / online platforms in a shorter span of time when compared to banks and other traditional financial institutions.  Having said that, how do you decide from so many options in the market? Here are some tips to get you started.

Amount of time taken for approval, interest rate and time limit for paying back are no doubt the deciding factors.  Along with that, we suggest that you take a look at the past history of the lending app.  How are they performing in the market as a business entity? Are they consistent in providing quality service all through the entire process from beginning to end? After all, money is involved in the process and let’s not take even a minor detail for granted.

LenDenClub’s instant cash loan app InstaMoney does exactly that.  It helps you get instant cash to your bank account.  The process is so smooth that you don’t even feel like you have applied for a loan.So, whenever you are in want of money, download InstaMoney, get instant loans and pay it back with a smile!  Happy borrowing!

The post Don’t postpone life – InstaMoney Hai Na! appeared first on LenDenClub.

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Bad credit score usually does not fetch loans. Fortunately, there are certain companies that offer loans for bad credit score as well. Check out how.

Experiencing rejections for your loans? Not getting good financing rates? Oh! Could that be because of a bad credit score? Having a strong credit score is really important to seek help from the investors or financial institutions. Nevertheless, it is also true that having a bad credit score doesn’t just mean that you do not have an intention to clear your loan. There are other factors too which make your credit score look bad. No worries. We shall help you find ways to improve your bad credit score. And very soon you will have all the balls at your court!

When you start the procedure to get a loan on your bad credit score, you need to understand that you will have to put in some time and effort. And then, you are absolutely good to go! Following are some of the tips to increase credit score fast.

Tips to improve credit score

It is also essential that you improve your credit score. And we have few tips for the same –

•  Keep an eye on your credit card history

Start with checking all your credit card reports. If there is no accuracy or some discrepancies are found, it will surely reflect on your credit score. Set up payment reminders so that you do not cross the due date. There are provisions of setting up automatic payments as well; you can try that in case you do not want to miss your deadline.

•  Never take debts unless required mandatorily

It is always easier to take debts in case everything seems to fall apart. Well, this should be cut down. Usually, when we need emergency funds, we tend to take more than what is required. It is better to take as less as we can. In addition to this, try not using your credit cards at all. If you miss your payments the interest you pay is really high and can add on the burden you are already carrying.

  Always be on time

The best solution for how to fix credit score is to be punctual. This is one of the easiest ways to build your credit score. Begin with paying bills on right time. When you are delaying, they pile up in days, and finally they can eat away your hard earned savings too. Experts say, “Your credit report shows your credit scores.” Whether it is small or big, pay on time and don’t make your situation more complex than it should be.

•  Use smart credit cards only

Not many know that choosing right credit card is the trick to play smart. Firstly, don’t get lured away by companies who say that you deserve a credit card. The fact is there is no need to have many credit cards in your pocket. Secondly, do not choose credit cards that require you to pay excessive charges. This will surely risk your credit score. Thirdly, closing accounts is not a right way. The truth is, even when you close your account due to inaccuracy or mistakes, it is reflected in your credit history.

•  Complete your collection accounts

This is another solution on how to raise credit scores. People tend to close and open accounts and keep on transferring money, thinking it to be a smart play. Well, this is the worst thing to do. Dispute such accounts by writing it to the credit bureau and make sure this issue gets resolved as quickly as possible.

•  Rebuild your score with a good repayment track

Many lending companies provide loans to borrowers with a bad credit score. Unless you have defaulted in the past, you can get a loan from them at a reasonable interest. However, the amount offered to you could be less. It is recommended to take such bad credit loan. Once the loan is taken, repay on time and it will eventually help you improve your bad credit score.

Along with many other lending institutions, LenDenClub also provides bad credit loan. You can easily check your loan eligibility and apply. It’s a complete online process.

If you wish to read more such informative articles, you can subscribe to our newsletter and we shall be sending valuable content to your inboxes. Stay tuned, get enlightened regularly, and very soon you will have a strong and healthy finance reflecting through your bank statements!

The post How To Get A Loan With A Bad Credit Score & Tips To Improve Credit Score! appeared first on LenDenClub.

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Lenden Club by Siddharth Unhavne - 7M ago

Investment in peer to peer lending is a latest financial innovation that connects investors and borrowers. It has become one of the best platforms for safe investments and higher returns.

The term P2P or peer-to-peer lending is buzzing around off lately. What is it all about? Well, the activity of borrowing and lending dates back to pre-historic era. With change in time, such trends witness changes too. And in the present era, it is P2P which is leading the top charts in the industry. Basically, it is a debt financing method that lets people lend money and borrow without seeking any help from any financial institution. If you ask why peer to peer lending, the answer is – it eliminates the need of middlemen and makes the procedure simpler than it used to be.

Working of peer to peer lending?

We all know the traditional method of borrowing funds. It is basically done with the help of the bank. However, borrowers are finding it difficult due to high interest rates, and bad credit scores are making it a hard nut to crack. This is where P2P lending comes into the scenario. Here a borrower can easily get a loan from other individuals who wants to lend their money.

Benefits of investing in P2P lending

If you are planning to invest your amount, then the latest feasible option trending in the market is P2P lending. It is offering a huge number of benefits to the investors, and is also known to be serving better than investing in stock markets. Some of the benefits of P2P lending investment are:

•  You can invest any amount; it can be as low as Rs. 500 and as high as Rs. 50,000 per borrower.

•  P2P industry is now under the regulation of RBI, hence there’s more scope for lenders to trust the segment.

•  Platforms such as LenDenClub also help investors in going through the borrower’s profiles before making a sound decision.

Types of peer to peer lending

Use a systematic approach

After you understand why invest in P2P lending, you need to take a step by step approach to reach the goal. Investors should never invest the entire amount at one go. It is better to diversify the funds into multiple borrowers. Nowadays, P2P lending has become a trend and every day there are new prospects with more attractive opportunities. Therefore, begin with investing minimal amounts and then proceed slowly in the same manner.

In case you still have confusions, you can reach out to your relationship managers. They will be able to guide you further with your investments.

Advantages and disadvantages of P2P lending for investors

In every case, there are both pros and cons we need to acknowledge. Let us know about them before we step in the field.

Advantages-

1.  The money can be split in different kinds of loans

2.  Lender can be an individual or an institution

3.  It is your decision to lend and invest money and you get to pick your borrower

4.  Returns are higher than what we get from the banks.

You can seek guidance from portfolio managers who are available to help you at any moment.

Disadvantages-

Every investment has certain risks, and so is there for P2P lending. However, the risks can be adjusted by investing smartly. And it all starts with selecting the right platform.

You can never be sure unless you have experienced it. Give P2P lending a try by signing up with LenDenClub today. Start with Rs. 500 and start diversifying your funds from the beginning. You can sign up online or by using our mobile apps (Android or iOS).

The post Investing In Peer To Peer Lending appeared first on LenDenClub.

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Lenden Club by Siddharth Unhavne - 7M ago

Are you in distress due to no savings in hand? No more worries. Read these six simple and smart steps that will help you save your money and cut down unnecessary expenses!

With mushrooming living costs and double the expenses, it is difficult to save money. Even more hard is to get started with the saving habit. Savings are required to fulfill emergency outlays, travel goals, short-term plans, and various other small to big dreams. We have some easy ways to save money for you. Follow these simple tips and soon you will have additional savings.

1.  Take baby steps

If it seems tough for you to save huge amounts monthly or quarterly, start with baby steps. For instance, you can save Rs. 500 to Rs. 1000 monthly which will add up to a great sum in a year. Of course, you will earn an interest for your good deed too.

2.  Do not keep your debts for a long time

Have you noticed you are paying more than your debt amount is? That’s because of a long tenure period. Instead of paying interests for the debt, you can earn the same by saving a good sum. Irrespective of the debts you have in your name, be it overdrafts, credit cards, or even store cards, try to pay them off soon and use that to save your lot.

3.  Make a note of your budget

This is one of the essential money saving tips that not many of you consider. Without tracking our expenses, we tend to spend a lot. For instance, we tend to have an extra coffee, give cash tips, purchase an unnecessary household item, an additional outfit, and so on. On the other side, when we make a note of our expenses, we get critical in spending even a penny. This will allow you to save more and spend less.

4.  Make your saving schemes automatic

Usually, all the savings are done through your bank accounts. In case you are forgetful or you find it difficult to keep note of your dates, you can make your savings automatic. All you have to do is set a date through your internet banking portal and the amount that you want to save every month. And it will be done automatically, without your effort. That is a smart way to utilize your smart digital systems and at the same time save your hard-earned money.

5.  Create short term goals

If you are looking for answers on how to save money quickly then creating goal plans can prove to be valuable. You can open new plans through your saving accounts such as travel goal, wedding goal, new television goal, savings for a dream home, and so on. When we plan out goals, we incorporate a tendency to complete it without caring for our not-so-required cravings for meals or new outfits. Try creating such targets and get over it to complete it. That’s a great way of saving and fulfilling goals at one time. You can also use Recurring Deposit funds in order to automate your savings. Check with your bank for such options.

6.  Pay bills on time

We know everyone nowadays is running on a busy schedule, overlooking the due date of paying bills. This tends to addition of late fees. It is always better to sort out the mandatory expenses by setting reminders and paying the bills on time. Although it negligible, but after a certain period of time you will know how much you are saving. You may even set automated payment systems using portals like PayTM.

Now you know where to start from. If you want a strong financial health, then stay tuned for more helpful blogs to save your hard-earned money and let it grow through simple terms. For any additional information, you can check our website www.lendenclub.com. We shall be happy to assist you in any matter.

The post 6 Simple Tips to Save Money appeared first on LenDenClub.

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India is the second fastest growing economic hub in the world. Millennials today, as young as 21 years are focusing on living their lives to the fullest even if their means are limited. In order to meet these needs, people are looking out for money being available at their disposal almost instantly for which they are resorting to newer avenues of finance like Peer to Peer Lending in India.

In the recent years, Peer to Peer (P2P) lending platforms also known as Non-Banking Financial Companies (NBFC-P2P as per RBI directive 2017) are setting a new trend. With the advancements in digital technology, P2P lending is made hassle free and less tedious. The main advantage of P2P borrowing is that the loan processing is done through a complete online technology-based process.

RBI’s Motive of Credit Inclusion

Even Though the industry is at a nascent stage, P2P in India has started gaining momentum. However, the 2017 RBI’s guidelines have addressed some of the key concerns of the industry and cleared many unregulated practices.

RBI Regulations

  1. P2P Platform will only serve as mediators for matching and originating loan deals between lenders and borrowers.
  2. Lenders can lend a maximum of INR 10,00,000 across P2P lending platforms
  3. All P2P must give top priority in ensuring confidentiality of customer data and offer complete transparency in its operations. 
  4. Need to submit regular financial reports, loan arrangement deals, a summary of complaints filed by borrowers or lenders with RBI.

Future scope of P2P

Above mentioned RBI regulations are expected to impact the P2P lending space as follows:

  1. The P2P market is estimated to grow to around $4-5 billion by 2020
  2. A major chunk of the currently underserved market will be covered under the financial umbrella, all thanks to P2P platforms
  3. People that are currently opting for banks to fulfil their financial needs, would migrate to P2P lending platforms as the P2P loan application processes are very efficient. This very trend has been spotted in countries like UK and the US where P2P lending platforms have become more preferable over banks
  4. For the lenders on these P2P platforms, the returns are very lucrative which will continue to be the case along with more checks and processes introduced by P2P platforms in order to keep NPAs in check.

Conclusion

With RBI’s support, the P2P industry is ready to move to the next level of market adoption for lending money online. With all things going their side, P2P lending platforms are here to stay.

The post Future of Peer to Peer Lending in India appeared first on LenDenClub.

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