PeerLend is an online financial marketplace that matches lenders and borrowers in a safe and secure environment. It offers personal loans to the borrowers with valid credit score.Borrowers can reach out to different lenders with loan requests. Lenders propose the investment amount and interest rates. The loan requests from borrowers can be viewed by lenders on their dashboard.
PRODUCTS & SERVICES:
P2P Lending - Online Platform that matches people who want to lend with people who want to borrow.
The aim of Peerlend is to close the gap between the lender and borrower with flexibility in interest rates.
Company generates revenue from both subscription and transaction based revenue model.
Lender has to pay first time registration fee of Rs.1,500 and have to pay an annual fee of Rs.1,000/- from second year onwards. It charges lender a 2% fee on the amount of money lent.
The uniqueness of Peerlend is that the interest rates are set by the lender and the borrower. However they have interest rate ranges which is between 14% and 24%.