Top 5 Best Peer-to-Peer Lending Platforms in India

Peer to Peer lending is a new concept in India. The new technology has been around since the last five years or so. If you are looking for the non-institutionalised lending the P2P format should be the best option you would opt for. What is Peer to Peer lending and how is it helpful in offering the communication between the two parties directly without the need for formal institutional set up of any nature. Which institutes would you prefer for the best Peer to peer lending in India? We will check out the options we have at our disposal for the purpose.

Top 5 Best Peer-to-Peer Lending Platforms in India

Peer to Peer lending is a new concept for the exchange of money between those who have money and those who are in need of it. If you have excess of funds, you can lend the money to the borrowers and earn your returns on your funds in the form of interest on the sum you have lent.

You can connect with the lenders and borrow money from them in the form of crowdfunding. The concept was initially made its appearance in the US and has now been popular enough in India. It can be useful both for lenders and borrowers alike.

Let us analyse the top 5 Peer to Peer lending platforms that have gaining momentum in India.


Best Peer-to-Peer Lending Platforms in India

Faircent is one of the best platforms for all your needs in lending and borrowing you may be going through. It would need just a little information on your part and opt for personal loan.

The firm is completely trustworthy. Headquartered in Gurugram, the company began its operations in 2013 and has become the face of Peer to Peer lending in India. It uses a simple platform for connecting the lenders and borrowers. They can then negotiate between themselves and agree to the interest rates and repayment terms that are beneficial to either of them. The company is known for fair play and complete transparency.


Best Peer-to-Peer Lending Platforms in India

Lendbox works as the best platform in terms of e-lending. It offers its services both in Peer to Peer lending and through institutional investors.

Whether you are a borrower or a lender, you have something to earn. Acting as a platform to join the trustworthy (or more so, creditworthy) borrowers and willing lenders. The lenders stand to gain better returns than their traditional mode of investment. The company has been able to get a lot of sign ups through its awareness programmes. One of the positive aspects of the platform is it would let you get a better deal even if you are a borrower with a bad credit score. You can be assured of high degree of security and transparency. The functionality is responsive with the right deal of support.

LenDen Club

Best Peer-to-Peer Lending Platforms in India

LenDen Club is one of the prominent players in the Peer to Peer lending platforms in India. In fact, it has been involved in making the traditional processes making it hassle free, easy and simple to work with.

Claiming a panel of over 500 investors and 600 borrowers, the lending platform has been a name to reckon with – thanks to transparency and smoothness of its performance. LenDen Club basically connects the salaried borrowers and lenders. The service works as a web based platform and makes use of both traditional and non-traditional modes of customer verification and their credit worthiness. Believing in the unstructured non institutional lending and taking it to the next level with its innovative technology, they have recently received seed funding which stands proof to its reliability.

Rupaiya Exchange

Best Peer-to-Peer Lending Platforms in India

Rupaiya Exchange is probably one of the latest entrant in the sphere of Peer to Peer lending in India. The platform offers you the right option to check out the shared economy options you may have.

The Rupaiya Exchange has tied up with a few credit bureaus to ascertain the credit score of the borrowers. The new age fintech start-up has been involved in the financial inclusion scheme in Madhya Pradesh. The company’s activities focus on micro entrepreneurs has been aiding people like housewives who want to buy sewing machines or farmers. The company has been growing at an average 65 percent. The company has been looking to make use of data sciences and machine learning technologies for loan processing. The future plans include offering micro funding solutions for bill payments and smaller transactions.


Best Peer-to-Peer Lending Platforms in India

It should be the one of the oldest players in the arena of Peer to Peer lending. A trusted platform with the thousands of investors and borrowers, I-Lend has been indeed the first online P2P lending platform that offers low cost funding for the borrowers.

The I-Lend has been considered to be the first lending platform to make use of social media for bringing together the borrowers and lenders. The lenders and borrowers are brought together through the use of internet and this would reduce the costs associated. The lenders would be able to manage their risk through the credit inputs about the borrower. What makes it an exciting approach when it comes to P2P lending is the fact that it brings together the lenders and borrowers in reaching a mutually agreeable interaction. The borrower verification is what would make it one of the excellent choices as it uses stringent verification procedure for the borrowers.


Those were the top five Peer to peer lending platforms in India that have been making an effective inroads into the decent growth in the nascent stage that they are in as of now. The concept has been catching the attention of RBI and we would be looking forward to the advanced development in the arena of Peer to peer lending platforms.

We assume that list of best Peer to Peer lending platforms in India as featured in this compilation would have appealed to you and served as the proper guide in choosing the best Peer to Peer Lending platforms that would meet all your needs. Share your thoughts about the best platforms that you have worked with – either as a borrower or lender.

About Mahesh 5 Articles
Mahesh is the administrator of Money Hacks. He is based out of Mumbai and has vast experience in the field of personal finance. Money Hacks is his first blog where he shares his knowledge and experiences related to personal finance.

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