HomeMedia CenterLenDenClub Witnesses 60% Rise in Lenders and Borrowers Registrations for their Online P2P Lending Platform in Pune

LenDenClub Witnesses 60% Rise in Lenders and Borrowers Registrations for their Online P2P Lending Platform in Pune

By Sakalmoney

Pune: LenDenClub, one of India’s fastest growing P2P lending platforms, has witnessed a 60% increase in the number of lenders and borrowers transacting on their P2P platform in Pune. P2P lending platforms have seen an increase in popularity, trust and up-take across the nation, and Pune has reflected a similar growth pattern. The platform connects lenders looking to make higher returns with creditworthy, salaried borrowers seeking short-term personal loans.

LenDenClub currently enjoys a borrower base of around 8900, with a lender base of more than 3100, across India. The platform’s unique features enabling loan approval within 18 hours of request, while disbursement within only 3 days, has made it one of the preferred choice for borrowers in the city. Lenders, too, have been experiencing rewarding returns in a short span of time.

On sharing his views, Bhavin Patel, Founder & CEO, LenDenClub, said, “LenDenClub was established with a view of helping a large number of salaried individuals who do not get access to credit from traditional banking & financial institutions. Through our platform, we aim to foster financial inclusion by leveraging technology to support borrowers and lenders across the nation.”

“Pune is one of the fastest growing cities, hosting a majority of millenials by being an educational hub, while also due to its booming job market. The new-age generation is tech-savvy and hence appreciates the digital nature of every business, including financial services, due to their prompt, effective and transparent nature. This is one of the reasons that have led to an increase in the number of registrations on the platform and thus, the acceptability of P2P lending platforms in the city”, he added.

With peer-to-peer lending platforms now being declared under the purview of RBI as NBFCs, LenDenClub will further gain trust amongst both, lenders and borrowers. The platform will continue to redefine loan disbursement process in new age India.

Credit Sakal Money

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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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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