HomePress ReleaseP2P comes to the support of people in medical needs : Study

P2P comes to the support of people in medical needs : Study

P2P comes to the support of people in medical needs : Study

  • Medical Emergencies  – top reason for borrowing at platform level.
  • Up to 25,000 is the most preferred ticket size among borrowers
  • Bengaluru, Mumbai and Hyderabad – top cities in terms of loan demand & lending too

Mumbai, July15, 2021: Millennials dominate as the most influential cohort as both borrowers and lenders on peer-to-peer (P2P) lending platforms, says study. LenDenClub, the country’s largest P2P lending platform, today released its 2020-21 report on the key borrowing and lending behavior of its consumers (borrowers and lenders).

LenDenClub, the P2P platform that offers loans ranging from Rs. 5,000 to 10 lakhs, has analysed annual data of over 4 lakhs users, to study the key trends in industry. P2P is a fast growing and upcoming industry for alternative investment avenues. P2P NBFC is an RBI recognized lending platform which started picking up in India in the last few years. The report has multiple data points and key insights showing the typical demographic and professional profiling of the consumers.

The young and tech-savvy Indians are much ahead of the previous generations when it comes to borrowing or even availing the platform for a new asset class as an investor. According to the report released by LenDenClub, millennials belonging to the age group of 21-30 years were the most active as both borrowers (56%) and lenders (54%) on its platform. This was followed by the cohort belonging to the age group of 31-40 years accounting for 37% in case of borrowers and 33% in case of lenders. 

India’s silicon city, Bengaluru, topped the chart in terms of people having the highest credit demand. Interestingly, the highest number of lenders too hailed from the tech city of Bengaluru. Other major lending and borrowing markets were Hyderabad, Mumbai, Pune and Chennai, showing a clear dominance of west and south. 

Medical Emergencies accounted for 35% of digital loans that were availed during the year. ‘Advanced salary’ accounted for 33% of the pie, followed by ‘family functions’ accounting for 10%. 

Salaried professionals ranging from CXOs to mid-managerial level, topped the chart as investors on the platform. The report further stated INR 1.81 lakhs was the average investment amount on the platform while INR 50,000 to 1 lakh was the most preferred amount among lenders, accounting to ly 50% of the pie in terms of value. Other interesting insights stated – Feb(2021), Nov (2021) and December (2020) were the top three months when demand for credit was the highest. Whereas, during Apr-Jun 2020, the demand for credit was the least. 

In terms of loan repayment — ECS payment was the most preferred mode accounting for 83 % followed by UPI (10%) and other Payment Gateway (7%). In addition, the data also revealed that males continued to dominate the platform with more than 80% participation.  

Bhavin Patel, Co-founder & CEO, LenDenClub said “Covid-19 has accelerated digital penetration and uptake across every industry, and the lending sector too, has seen transformation beyond imagination. During the global health crisis, medical emergencies continued to be the top reason for borrowing, and we are honoured to help those who lack credit or lie outside the financial inclusion fold, meet their needs. Interestingly, millennials also actively participated as investors availing P2P lending as an aspirational asset class offering lucrative returns. Thanks to e-commerce and penetration of new-age technology which has built an all-new tech empowered segment of Indians across tier-II and tier-III cities from where we witnessed fresh bouts of demand.” 

LenDenClub is the largest peer-to-peer platform in India, having disbursed more than ₹500 crores worth of loans. With a 100% funding record for its borrowers, LenDenClub currently enjoys a user base of one and a half million from all over India  and disburses an average of 2.5 lakh loans annually. LenDenClub, with usage of technology, disburses 82% loans within 5 hours to its borrowers.


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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