Rupaiya Exchange brings Peer to Peer Lending In India

Peer to Peer Lending In India

The revolution in the field of technology has not only evolved new ideas for a simpler yet better life but it has, to a great extent, also promoted ancient work culture stabilized on the wheels of modernization, and Peer to Peer lending is a great example of it. 

India is known to have harboring unorganized sectors in lending in the form of chit funds, community associations, and co-operative societies, and it is believed that soon India will rise as one of the biggest offline P2P lending markets in the world but what about the virtual P2P lending in India?

The place of online Peer to Peer lending in India is still raw but is growing at a positive rate. With the launch of new startups, like Rupaiya Exchange, advocating the importance and advantages of Peer to Peer lending, the door to a whole new world of opportunities is opening for the investors and borrowers. 

Peer to Peer lending, or P2P, can simply be defined as the platform for lending money, from one individual to the other, without the interruption of banking mediators. Basically, the people involved in the whole process can be divided into two parts: Investors (the lending party) and Debtors (the borrowing party). Here the digitalization of P2P has re-established the ancient technique with more promising security and exposure. 

Launched in late 2015 with the idea of creating an easy path for the people in need of funds by giving them a digital platform, Rupaiya Exchange works beyond the norms of ‘lending and borrowing’. 

When we apply for a loan in a bank, we have to go through a rigorous process, which includes loaning officers who work on behalf of the bank, many paperwork, and a nagging question ‘what if the bank reject my loan application?’ This whole process is simplified to hundred folds by Rupaiya Exchange. 

The fundamental objective of Rupaiya Exchange is to provide alternative finance options to the people who failed to gain loans from the banks, even after a credible profile. They work as a helping hand at the time of need, and give wings to the dreams of people. 

How does Rupaiya Exchange Work? 

Rupaiya Exchange has made loaning and borrowing a secure and advantageous process. It is interesting to note that these loans are unsecured personal loans, which can range from applying for your laptop to the loan for a family event, Rupaiya Exchange covers it all. 

A person has to sign up on the website either as a ‘lender’ or as a ‘borrower.’ A borrower needs to submit an application for the loan, and if approved, it would be placed on the website for a short period of time for the investors to fund. The investor will go through the credit profile of the borrower, examine it, and decide if he wants to fund it or not. 

Unlike traditional banking system, where they look more into the numbers in your bank account and the existence of your property etc., Rupaiya Exchange divulges more into the non-traditional data, like social behaviour, background, upbringing, etc. for predicting the repayment behaviour of the potential ‘borrower’ before accepting the application of the loan. 

Pros/ Advantages of P2P with Rupaiya Exchange 

Peer to Peer lending is a Pandora Box full of advantages for both, investors and borrowers, with Rxchange.

• Borrowers can borrow money at a low-interest rate with respect to the traditional banks (for similar types of loans).
• No bank mediators or rigorous paperwork are there to make life more difficult.
• No prepayment or registration fee.
• In Peer to Peer lending on Rupaiya Exchange, you share a platform with a large number of investors, so the probability of the funding of your loan is higher than that of traditional banks.
• P2P investing is an asset which is more secure and stable than the stock market.
• All the Borrowers go under examination for their credibility, and only the loans of approved borrowers are posted.
• Rupaiya Exchange’s team assign a Reference Credit Rating to all the loans and borrowers.
• Investors choose the person they want to lend money.
• Peer to Peer lending has emerged out as a great place for investors as they get relatively higher returns which could reach up to 20-25%.
• The Rupaiya Exchange team facilitates all the loan documents.

Rupaiya Exchange is, undoubtedly, among one of the most promising marketplace for Peer to Peer lending in India. It has the provision of Flexibility in the invested amount, and promotes an important safety tool as Lender Protection Fund, which ensures the safety of the Lender. They believe in work transparency and aim to provide maximum benefits to their users.

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