HomeMedia Center430% rise in investments by millennial women in P2P lending: Study

430% rise in investments by millennial women in P2P lending: Study

The study was conducted on the data from 20,165 women investors and borrowers in P2P lending for the period April 2021 to March 2022

LenDenClub, the country’s leading Peer-to-Peer (P2P) lending platform, released a report on women investors and borrowers on the P2P lending platform. The data further revealed that Mumbai, Bangalore and Hyderabad lead the race in terms of women investing in P2P space.

According to analysis, there has been a whopping 430% rise in women investors in the P2P lending space in the financial year 2022 compared with FY21. Millennial women aged 21-30 years were the most active borrowers, i.e. 56%, and lenders, i.e. 54%. It was followed by the cohort in the age group of 31-40 years that accounted for 37% and 33% in the case of borrowers and lenders, respectively.

Data revealed that most women borrowed from the platform in the month of April 2021, when Covid’s second wave was at its peak. Women also borrowed money for educational purposes indicating that they are career-focused and planning their future effectively by availing credit facilities from P2P lending platforms.

We believe that more awareness about the platform will increase participation from women in tier-1 and tier-2 cities. The easy access to online avenues of financial independence encourages women to make their own financial decisions. India can achieve better financial inclusion with more participation from women.

Credit:
https://www.livemint.com/companies/news/430-rise-in-investments-by-millennial-women-in-p2p-lending-study-11646708288293.html

LenDenClub is India’s largest alternate investment platform which started operations in India in 2015. We have been helping lenders diversify their investments beyond traditional investment instruments ever since.

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Lending

The Reserve Bank of India does not accept any responsibility for the correctness of any of the statements or representations made or opinions expressed by Innofin Solutions Private Limited, and does not provide any assurance for repayment of the loans lent through its platform.

LenDenClub is an Intermediary under the provisions of the Information Technology Act, 2000 and virtually connects lenders and borrowers through its electronic platform via the website and/or mobile app.

The lending transaction is purely between lenders and borrowers at their own discretion, and LenDenClub does not assure loan fulfilment and/or lending simple interest. Also, the information provided on the platform is verified or checked on the best efforts basis without guaranteeing any accuracy of the data/information verification. Any lending decision taken by a lender on the basis of this information is at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower, fully or partially. The risk is entirely on the lender. LenDenClub will not be responsible for the full or partial loss of the principal and/or interest of lenders’ lending amounts.

*This is an annualized yield and is subject to the maximum FMPP tenure, which is 5 years. P2P lending is subject to high risk and may cause an entire loss of principal.
 

*P2P lending is subject to risks. And lending decisions taken by a lender on the basis of this information are at the discretion of the lender, and LenDenClub does not guarantee that the loan amount will be recovered from the borrower.

** Average value mentioned is the weighted average of simple interest received by lenders

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