Payal Das
- Feb 13
- 9 min read

Top 11 P2P Lending Platforms in India 2024

P2P Lending Platforms in India have become popular lately for offering an alternative source of financing for borrowers who may not qualify for traditional bank loans. This has attracted borrowers who are looking for more accessible and flexible loan options.

P2P Lending Platforms in India platforms provide lenders with an opportunity to earn higher returns on their investments compared to traditional savings accounts or fixed deposits. With interest rates on traditional investments remaining relatively low in recent years, individuals have been attracted to P2P Lending Platforms in India as a means of potentially earning higher yields.

What is P2P lending?

Peer-to-peer (P2P) lending is a lending model where individuals are matched with borrowers through an online platform, and can lend money directly to them. Instead of going through traditional financial intermediaries like banks, borrowers can access funding from a group of individual lenders who invest smaller amounts.

How does P2P lending work?

P2P Lending Platforms in India connects individual lenders with borrowers through an online platform. Borrowers apply for loans, which are listed on the platform. Lenders review the loan listings and choose which loans to invest in. The platform assesses the risk of borrowers and once a loan is fully funded, the borrower receives the funds. Repayments are made by borrowers, which are distributed to lenders. P2P Lending Platforms in India carries risks, and lenders should diversify their investments to mitigate potential losses.

Here is a list of 11 P2P Lending Platforms in India:

Mobikwik Xtra
Fello
Cred Mint
12% Club
CashKumar
Lendbox
i2iFunding
IndiaP2P
Faircent
Finzy
LiquiLoans

1. Mobikwik Xtra

Mobikwik Xtra is an investment option offered by Mobikwik, a popular app for digital wallets and payments in India. This is a p2p lending apps where users lend directly to creditworthy borrowers through an RBI-regulated platform called Lendbox. The interest rate offered by Mobikwik Xtra is claimed to be higher than most savings banks and fixed deposits. Mobikwik Xtra offers individuals an opportunity to earn returns through p2p lending apps while utilizing the convenience of the Mobikwik platform.

Important Factors for Evaluating Mobikwik Xtra:

Minimum Investment	Rs. 1000
Interest Rate	up to 12%
Customer Reviews	Average
Ratings	2.1/5 (4.64K reviews)

Here are the key features of Mobikwik Xtra:

Higher interest rates compared to savings banks and fixed deposits
Flexibility with no lock-in period
Daily interest credit
Convenient and accessible through the Mobikwik app
Users can set a desired investment amount and the funds will be automatically allocated to eligible borrowers

Read Also: Mobikwik Xtra Refer and Earn

2. Fello

Fello is a project management P2P Lending Platforms in India designed for team collaboration and project tracking. It helps teams stay organized, communicate effectively, and meet project deadlines. With features like task management, team chat, Kanban boards, and Gantt charts, Fello provides an intuitive interface for managing projects and ensuring smooth communication among team members. It is one of the biggest p2p lending platforms in India.

Important Factors for Evaluating Fello:

Minimum Investment	Rs. 100
Interest Rate	up to 15.5%
Customer Reviews	Good
Ratings	3.7/5 (3.96K reviews)

Here are the key features of Fello:

Create, assign, and track tasks with deadlines and attachments.
Seamless communication among team members for quick decision-making.
Visualize workflows and track task progress.
Overview of project timelines, dependencies, and milestones.
Centralize project information by integrating with popular tools like Google Drive and Slack.

Read Also: Fello Refer and Earn

3. Cred Mint

Cred Mint is a P2P lending platform in India that facilitates lending and borrowing transactions between individuals. The platform offers alternative lending solutions to borrowers who may have been turned down by traditional banks. Cred Mint is one of the safest p2p lending platforms. Borrowers can apply for personal loans and receive funding directly from individual lenders at competitive interest rates. Meanwhile, lenders can invest their money in borrowers and earn returns on their investment. With advanced risk assessment tools and a robust verification process, Cred Mint prioritizes transparency and security, offering a safe and efficient alternative to traditional banking.

Important Factors for Evaluating Cred Mint:

Minimum Investment	Rs. 1,00,000
Interest Rate	up to 9%
Customer Reviews	Best
Ratings	4.5/5 (1.97M reviews)

Here are the key features of Cred Mint:

Alternative lending solution offering easy personal loans to borrowers.
User-friendly platform, making it easy for both lenders and borrowers to navigate and complete transactions.
Competitive interest rates for borrowers, making it cost-effective for borrowers.
Advanced risk assessment tools employed by Cred Mint to evaluate creditworthiness and mitigate potential risks for lenders.
Robust verification process employed by Cred Mint to ensure the security of borrower information and protect lenders from fraudulent activities.

4. 12% Club

12% Club is of the of RBI approved p2p lending companies that aims to provide investors with higher returns on their savings. The platform offers a unique investment opportunity by connecting borrowers with lenders, allowing individuals to lend their money to borrowers at an attractive interest rate of 12%. This p2p lending apps bypasses traditional banks and eliminates intermediary fees, resulting in better returns for lenders. The 12% Club implements stringent risk assessment procedures to ensure a secure lending environment. With a transparent processes, the platform makes it one of the safest p2p lending platforms for investors.

Important Factors for Evaluating 12% Club:

Minimum Investment	Rs. 1000
Interest Rate	12%
Customer Reviews	Good
Ratings	3.4/5 (28.3K reviews)

Here are the key features of 12% Club:

Online investment platform offering higher returns on savings
Connects lenders with borrowers for lending at attractive 12% interest rate
Its p2p lending websites bypass traditional banks and intermediary fees
Stringent risk assessment procedures for a secure lending environment
User-friendly interface for easy access to alternative investment opportunities.

5. CashKumar

CashKumar is a P2P Lending Platforms in India that facilitates borrowing and lending between individuals. Borrowers can access personal loans at competitive interest rates, often lower than traditional financial institutions. This p2p lending websites employs advanced risk assessment algorithms to evaluate the creditworthiness of borrowers, ensuring a secure lending environment for lenders. By eliminating intermediaries, CashKumar empowers individuals to take control of their finances and achieve their financial goals.

Important Factors for Evaluating CashKumar:

Minimum Investment	Rs. 1000
Interest Rate	up to 24%
Customer Reviews	Average
Ratings	2.1/5 (75 reviews)

Here are the key features of CashKumar:

Quick loans with lenders looking to earn returns on their money
User-friendly interface for seamless loan transactions
Competitive interest rates for personal loans
Advanced risk assessment algorithms to ensure secure lending
Transparent process and data protection for user trust and confidence.

6. Lendbox

Lendbox is a P2P Lending Platforms in India that connects borrowers and lenders, creating a mutually beneficial financial ecosystem. With Lendbox, borrowers can easily access personal loans at competitive interest rates, bypassing the hurdles of traditional banking channels. This p2p lending websites employs advanced credit risk assessment tools to evaluate the creditworthiness of potential borrowers, ensuring a secure lending environment for lenders. By leveraging technology, Lendbox revolutionizes the lending landscape, providing a viable alternative to traditional financial institutions.

Important Factors for Evaluating Lendbox:

Minimum Investment	Rs. 10,000
Interest Rate	up to 30%
Customer Reviews	Average
Ratings	2.9/5 (682 reviews)

Here are the key features of Lendbox:

P2P lending websites connecting borrowers and lenders
Competitive interest rates for personal loans
Advanced credit risk assessment tools for secure lending
User-friendly interface for convenient investment diversification
Emphasis on transparency, trust, and responsible borrowing and lending.

7. i2iFunding

i2iFunding is one of the biggest p2p lending platforms in India that allows individuals to lend and borrow money directly from each other. It eliminates the need for traditional financial intermediaries, offering borrowers access to quick and hassle-free loans at competitive interest rates. The RBI approved p2p lending companies makes it easy for lenders to diversify their investment portfolios and earn attractive returns. i2iFunding employs robust credit risk assessment tools to evaluate the creditworthiness of borrowers, ensuring a secure lending environment.

Important Factors for Evaluating i2iFunding:

Minimum Investment	Rs. 1000
Interest Rate	up to 36%
Customer Reviews	Average
Ratings	2.4/5 (2.59K reviews)

Here are the key features of i2iFunding:

P2P lending apps connecting lenders and borrowers
Competitive interest rates for hassle-free loans
User-friendly interface for convenient investment diversification
Robust credit risk assessment tools for secure lending
Emphasis on transparency and trust for responsible borrowing and lending practices.

8. IndiaP2P

IndiaP2P is a leading p2p lending platforms in India that connects borrowers with individual lenders. It provides an alternative source of finance for individuals and small businesses through a secure and transparent online platform. With this p2p lending companies in India borrowers can easily apply for loans with minimal documentation, while lenders can create lending profiles and effortlessly find suitable borrowers. This RBI approved p2p lending companies conducts a meticulous risk assessment of borrowers to ensure credibility and creditworthiness.

Important Factors for Evaluating IndiaP2P:

Minimum Investment	Rs. 5000
Interest Rate	up to 16%
Customer Reviews	Best
Ratings	4.7/5 (47 reviews)

Here are the key features of IndiaP2P:

Streamlined and user-friendly online platform for borrowers and lenders
Meticulous risk assessment of borrowers for reduced risk and increased credibility
Competitive interest rates for borrowers, making loans more affordable
Diverse investment options for lenders, providing a range of loan listings to choose from
Advanced security measures for safe and secure transactions, ensuring the protection of user data and financial information, making it one of the safest p2p lending platforms.

9. Faircent

Faircent is prominent P2P lending platforms in India. It is one of the rbi approved p2p lending companies. By eliminating intermediaries like banks, Faircent aims to offer competitive interest rates and faster loan approval processes. Lenders, on the other hand, can diversify their investment portfolio by choosing borrowers and loan listings that align with their financial goals and risk appetite. Faircent emphasizes transparency and credibility, implementing robust verification and risk assessment procedures to mitigate potential risks for the lenders.

Important Factors for Evaluating Faircent:

Minimum Investment	Rs. 30,000
Interest Rate	up to 12%
Customer Reviews	Good
Ratings	3.3/5 (5.66K reviews)

Here are the key features of Faircent:

Operates as a digital marketplace connecting borrowers and lenders directly
Offers various types of loans, including personal loans, business loans, education loans, and more.
Strives to provide competitive interest rates for borrowers
Lenders have the freedom to choose from a range of borrower profiles and loan listings
Implements a meticulous verification and risk assessment process for borrowers to enhance credibility and provide a secure lending environment.

10. Finzy

Finzy is a leading P2P lending platforms in India that connects borrowers and investors. It is RBI approved p2p lending companies that offers individuals a convenient and transparent way to borrow money and investors an opportunity to earn attractive returns. Finzy provides borrowers the flexibility to choose from different types of loans, such as personal loans, debt consolidation loans, and education loans, with competitive interest rates. This p2p lending companies in India employs a rigorous credit assessment process and a risk-based pricing system for borrowers.

Important Factors for Evaluating Finzy:

Minimum Investment	Rs. 1000
Interest Rate	up to 22%
Customer Reviews	Best
Ratings	4.5/5 (45 reviews)

Here are the key features of Finzy:

Operates as a trusted online marketplace that connects borrowers and investors directly
Offers a diverse range of loan options, including personal loans, debt consolidation loans, and education loans.
Borrowers can enjoy competitive interest rates on their loans
Employs a thorough credit assessment process to assess the creditworthiness of borrowers
Provides an automated repayment system, ensuring easy and timely monthly repayments for borrowers.

11. LiquiLoans

LiquiLoans is a prominent P2P lending platforms in India that connects borrowers and lenders seamlessly. It is RBI approved p2p lending companies that aims to provide efficient and hassle-free lending and borrowing experiences. LiquiLoans offers a wide range of loan options, including personal loans, business loans, and education loans, catering to various financial needs. The platform ensures fair and competitive interest rates for borrowers, making loans more accessible. This p2p lending companies in India focuses on mitigating lending risks and ensuring the safety of investments for lenders.

Important Factors for Evaluating LiquiLoans:

Minimum Investment	Rs. 1,00,000
Interest Rate	up to 10.5%
Customer Reviews	Average
Ratings	2.9/5 (66 reviews)

Here are the key features of LiquiLoans:

Offering a seamless and efficient process for borrowing and lending.
Provides various loan options, including personal loans, business loans, and education loans, to cater to different financial needs.
Offers fair and competitive interest rates for borrowers
Focuses on reducing lending risks and ensuring the safety of investments for lenders.
Ensuring that the borrowers and lenders have clear and concise information regarding loan transactions.

Conclusion

P2P lending platforms in India have revolutionized the lending landscape by connecting individuals seeking loans with lenders willing to invest their money. These platforms have opened up access to credit for borrowers who may face challenges in securing loans from traditional banks. By eliminating intermediaries, P2P Lending Platforms in India offer borrowers diverse borrowing options and competitive interest rates. Additionally, these platforms employ advanced risk assessment tools and monitoring mechanisms to ensure the safety of lenders' investments. With the regulatory framework in place, P2P lending platforms in India have gained the trust of investors and borrowers, contributing to the growth of the alternative lending industry in the country.

FAQs on P2P Lending Platforms in India

Q. P2P lending meaning and its full form?

A: Peer-to-peer (P2P) lending is a lending model where individuals are matched with borrowers through p2p lending apps, and can lend money directly to them. Instead of going through traditional financial intermediaries like banks, borrowers can access funding from a group of individual lenders who invest smaller amounts.

Q. What are the benefits of P2P lending?

A: The advantages of using P2P lending websites include lower interest rates for borrowers compared to traditional loans, and higher returns for investors compared to other investment options. However, there are also risks involved, including the potential for defaults by borrowers which could lead to investors losing all or part of their investment.

Q. Is P2P lending safe?

A: The platform assesses the risk of borrowers and once a loan is fully funded, the borrower receives the funds. Repayments are made by borrowers, which are distributed to lenders. There are some RBI approved p2p lending companies such as 12% Club, i2iFunding, IndiaP2P, Faircent, LiquiLoans that are considered to be the safest p2p lending platforms.

Q. What is a good P2P lending strategy?

A: To develop a successful P2P lending strategy, one must choose the biggest p2p lending platforms that aligns with your investment goals and risk tolerance. Spread your investments across a diverse pool of loans to mitigate risk. Consider automating reinvestments or setting up a strategy to reinvest in new loans regularly. Regularly monitor the performance of your investments on the platform.

Q. Who is the lender in the P2P lending process?

A: For P2P lending companies in India, the lender is an individual or institutional investor who provides funds to borrowers through the p2p lending platform. The lender acts as the direct source of financing for borrowers, bypassing traditional financial institutions. The lender earns interest on their invested funds, which serves as their return on investment.