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Thread: Peer To Peer Lending

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  1. Peer To Peer Lending

    Has anyone here been playing with Peer to Peer Lending?

    There are almost a dozen players in this space, including:

    US



    UK



    India



    This seems like an idea that could really take off if done right. Of course, I'm not sure that anyone yet knows what approaches are going to turn out to be "right" or "wrong" yet.

    What do you think?
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  2. #2
    I am not sure if these services are any good, but I'm curious about some things. What makes them better than banks? Are these services careful about who they lend to? Do they lend to people who don't pass financial background checks like some of the failing banks did?

  3. Quote Originally Posted by vectro View Post
    I am not sure if these services are any good, but I'm curious about some things. What makes them better than banks? Are these services careful about who they lend to? Do they lend to people who don't pass financial background checks like some of the failing banks did?
    I'm thinking because it's faster, requires less paperwork and the %'s are usually lower. But the risk is likely higher.

  4. #4
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    One thing I find rather strange. For example I got a random listing from Prosper. Someone is wanting a $1000 loan, tho he claims to have a monthly income of $7500

    To me this looks questionable.

  5. #5
    Boober.nl from The Netherlands was founded in 2007 and went bankrupt earlier this year leaving 1200 people without their money (about € 1.65M to claim). The founders claimed this occurred due to the current economical crisis.
    One of the problems they were facing was that the longer Boober existed, the more bad payers came into play.

    Perhaps with better protection and screening the concept seems viable for longer term.

  6. #6
    I do it with LendingClub. They tout average returns of about 10%.

    We'll see how it turns out.
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  7. #7
    Quote Originally Posted by m42 View Post
    I do it with LendingClub. They tout average returns of about 10%.

    We'll see how it turns out.
    a 10% return may not be attractive for some.

    e.g. In India, banks offers 8%+ on fixed deposits and many companies offer 10%-12% annual returns on fixed deposits.
    note: when you replace this, dont use masked URL. thanks ~ admin

  8. #8
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    Quote Originally Posted by sachin410 View Post
    a 10% return may not be attractive for some.

    e.g. In India, banks offers 8%+ on fixed deposits and many companies offer 10%-12% annual returns on fixed deposits.
    That's a good return. What's the exchange rate on the Rupee?

  9. #9
    Quote Originally Posted by bogart View Post
    That's a good return. What's the exchange rate on the Rupee?
    USDINR=X: Summary for USD to INR - Yahoo! Finance India - Share Prices, Charts, News and more

    $1 = Rs 48.83.

    but I am not sure if foreign retail investment is allowed in Indian markets or not.
    note: when you replace this, dont use masked URL. thanks ~ admin

  10. #10
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    Quote Originally Posted by sachin410 View Post
    USDINR=X: Summary for USD to INR - Yahoo! Finance India - Share Prices, Charts, News and more

    $1 = Rs 48.83.

    but I am not sure if foreign retail investment is allowed in Indian markets or not.
    Rs 48.83 is a good rate. It was down to Rs 39 not too long ago.

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