Usually when looking for a loan, bank is the first thing that comes to mind. It acts as an intermediate source between people looking for funds and people who can provide them. Due to their operating costs, there is a large rate of interest applied on the given money. There are also certain conditions under which a sum can be loaned, which some people fail to fulfil. All these types of things make it a difficult task.
However, new age social lending sites who work through the peer to peer lending platform have made the process much simpler. They have a very low operating cost and quite sophisticated models for credit assessment.
One such fine and striking new finance company is RupeeCircle. Its aim is to shift to a bank-less world for a more hassle-free experience for borrowers and investors. It connects the two concerned sides directly for striking better deals where it offers quality credit at low interest rates and exceptional customer care, while also providing favourably high returns through risk management and constant data upload.
The requirements of the borrowers looking for transparent and cost-effective loans are listed on the online marketplace so that the investors can properly identify their needs and fund them.
There are a number of reasons why you should consider RupeeCircle for p2p lending.
1. Availability of Affordable Loans:
Since the company operates online, their loans are often very much cheaper than the ones provided by traditional institutions. RupeeCircle offers personal loans at unbelievable rates, as low as 11.99% Annual Percentage Rate. This happens due to the less overhead generated.
2. Simple and Quick Processing:
At RupeeCircle, the most basic of your needs is taken care of. Unlike banks and similar financial organizations, there is no need to stand at long queues waiting for your turn. To make it hassle free meant easy access whenever you want.
It provides you with instant options to apply for loans. The efficient technology enabled process ensures the review of your application and payment within 2-3 working days. It is a great option for getting money as soon as possible under good credit score.
3. Guarantees Safe and Secure Handling:
The requirement of privacy and confidentiality has always been a big concern, especially when it comes to huge money transactions. The company and the founders of RupeeCircle understand that. Hence, strict standards for safety are set to keep the protection of your data as a priority. Their secured systems maintain confidentiality at all times.
4. No Extra Charges for Pre-Payment:
The benefit of using RupeeCircle for loans is ideal as the profit of both the investor as well as the borrower is looked through. There is an option for you to pre-pay your loan, without any extra charges. That is only applicable after three months or payments from the loan disbursal.
Pre-closure of any loan is set that way for the protection of the investor’s interest. On contacting the company, they will help you out with different options and update your online account statement once the payment has been made.
5. No Hidden Costs:
There are no hidden and complex terms and conditions at RupeeCircle. All the loans handed out go through a simplified and transparent disbursal process. A nominal charge for handling of documents costing Rs. 500 and processing fees between 2.5% to 5% of your loan amount is imposed during the pay out of the loan. Any other applicable charges are clearly mentioned on their website www.rupeecircle.com.
RupeeCircle is one of the fastest growing social lending platforms in India, a popular and convenient alternative to traditional investment and loan options. There is no middleman required for any transaction or process, whatsoever. It makes funding and getting funded easy, which results in a win win situation for the investors as well as the borrowers.
Links:
https://en.wikipedia.org/wiki/Peer-to-peer_lending