Can I invest in Faircent?
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Can I invest in Faircent?
A: An individual lender can invest up to 10\%, HNIs (High Net worth Individual’s) up to 50\% and institutional lenders upto 100\% of the total loan amount requested by an individual borrower. This policy is to hedge the risk of the lenders by spreading their investments across borrowers.
Is it safe to invest in P2P lending?
Yes, Peer to Peer (P2P) lending in India is safe as long as you invest through an RBI Certified P2P NBFC like LiquiLoans or Faircent. Although there are other factors that you must consider before you become a lender on one of these platforms.
How do I pay my Faircent EMI?
How to Make Faircent Loan Repayment?
- Click on ‘EMI Payments’ under the ‘Recharges & Bill Payments’ section.
- Select ‘Faircent’ as your operator.
- Enter the necessary user details as asked like loan number etc.
- Click on ‘Continue’
- Check your EMI Amount, apply the discount voucher & make the payment.
Which is the best P2P lending sites in India?
Platforms Facilitating Peer-to-Peer Lending in India
| Name of the P2P Platform | Interest Rate (p.a.) | Repayment Tenure |
|---|---|---|
| Lendbox | 12\% onwards | 6 months to 24 months |
| i2ifunding | 12\% onwards | 3 months to 36 months |
| Faircent | 9.99\% onwards | 6 months to 36 months |
| OMLP2P | 10.99\% onwards | 3 months and 36 months |
Is Faircent an NBFC?
Faircent.com is India’s 1st registered NBFC-P2P platform and has been operational for over 5 years.
Is P2P legal in India?
RBI regulations The P2P lending is regulated by the Master Directions for NBFC Peer to Peer Lending Platform issued by the RBI in 2017. Only an NBFC can register as a P2P lender with the permission of RBI. Every P2P lender should obtain a certificate of registration from the RBI.
Is Faircent registered with RBI?
Peer-to-peer lending platform Faircent.com has received its NBFC-P2P certification from the Reserve Bank of India (RBI) . The accreditation makes Faircent.com the first P2P lending platform in the country to receive the certificate of registration as an NBFC-P2P by the national regulator.
Is P2P lending illegal?
Because, unlike depositors in banks, peer-to-peer lenders can choose themselves whether to lend their money to safer borrowers with lower interest rates or to riskier borrowers with higher returns, in the US peer-to-peer lending is treated legally as investment and the repayment in case of borrower defaulting is not …
Is Faircent safe to use?
Stay away from Faircent. They do not protect your lending in the downside. They claim to help recover defaults but they do not and keep sending notifications after notifications to the borrower who simply disappears. Faircent claims that they send someone physically to locate the person but the person is nowhere to be found.
Is it safe to borrow from Faircent?
Although, this is unsecured lending, lenders can seek legal help and Faircent also has a soft recovery and collections process to ensure the safety of the monies invested through the platform. However, you must understand that this does not ensure guaranteed returns or zero defaults.
What kind of reports does fairfaircent issue?
Faircent issues quarterly reports and a breakdown analysis which can be easily located on the homepage. These quarterly reports are highly detailed and consist of real data the company uses to understand their investors and borrowers.
What is Faircent P2P lending?
Faircent.com (Fairassets Technologies India Pvt Ltd) becomes India’s first P2P Lending platform to receive a Certificate of Registration (CoR) as an NBFC-P2P from the Reserve Bank of India (RBI). How Do I Get Started? Check out your monthly loan payments, both interest and principal payments, by setting loan amount, tenure and rate of interest.