Hassle-free Loans With P2P Platforms

With the banks tightening their loose ends to curtail non-performing assets, often borrowing becomes a problem if one does not have a  good credit score. In such cases, peer-to-peer (P2P) lending comes to the rescue. Though the concept has caught the fancy of people abroad, it is still nascent in India. But certainly people are treading that lane to obtain loans easily. “A form of crowd-funding, P2P lending model is based on individual lenders or investors connecting directly with borrowers. It eliminates banks and financial intermediaries from the lending process, along with the long waiting periods, high fees, and margins that accompany traditional loans,” said Rajat Gandhi, Founder and CEO, Faircent, P2P platform. Domain experts like Kalpesh J Mehta, Partner, Deloitte India, felt that P2P platforms are looking at becoming the new inter-mediator in the process by...