only listed fintech firm, 5paisa.com today said that it has launched ‘5paisa Loans’, a peer-to-peer lending
platform, where one can lend from Rs 500 – Rs 50 lakhs to
multiple borrowers and earn interest as high as 36% per annum.
India’s only listed fintech firm, 5paisa.com today said that it has launched ‘5paisa Loans’, a peer-to-peer lending platform, where one can lend from Rs 500 – Rs 50 lakhs to multiple borrowers and earn interest as high as 36% per annum.
is a registered NBFC with Reserve Bank of India, offering Peer-to-Peer Lending
solution with an aim to solve short-term cash requirements of borrowers from
all walks of life, while giving an opportunity to lenders to earn on their idle
money. Lending on 5paisa Loans is completely paperless, diversified, less
risky, transparent, and digital.
Prakarsh Gagdani, CEO, 5paisa.com said, “We
are glad to launch 5paisa Loans at a time when borrowers like small
businessmen, individuals don’t have many avenues to borrow and many lenders
have no opportunity to lend. 5paisa Loans is a platform, where we are bringing
the old ways of lending and borrowing in latest avatar. Our AI and tech driven credit underwriting
approach, portfolio way of offering is unique in the industry.”
our platform will in small-way help to meet consenting borrowers and lenders to
fulfil each others’ needs during the unfortunate Covid19 outbreak.”
Loans screen every borrower coming on our platform with more than 100
variable data points like age, location, earnings, previous loan history,
social profile, expenditure, etc and present the information through a Unified
Score for lenders to choose from.
rather than lending to an individual borrower, the platform enables lending
to a portfolio of borrowers, thereby, reducing risk and diversifying
investment. With this a Lender can lend money to multiple borrowers with
different scores and earn fixed monthly returns.
is India’s only diversified online platform for financial products serving
about 5.5 lakh customers. Apart for peer-to-peer lending, 5paisa.com offers equity,
debt, gold, etc on its platform. It is the most affordable and second largest
discount broker in India and charges a flat fee of Rs 10 per trade and zero
lending was mostly unorganised where some businessmen used to lend money to
other businessmen for short term requirements. Firstly, the entire transaction
was outside the regulatory framework and credibility of borrower
was evaluated mostly on personal relationships. Secondly, the transaction
value and the risk, both were high and therefore mostly out of reach
of the retail investors.