How can I start a peer to peer lending company in India?

You need to pass the eligibility criteria to run a P2P business:

1. A peer to peer lending platform can only run by the NBFCs or registered companies in India.
2. To obtain the Certificate of Registration for P2P Lending business, one must possess the Net worth of INR 2 crores.

How much does it cost to build a P2P platform?

Team size, marketing strategy and the cost of developing the platform determines the amount of start-up capital. Creating a P2P lending platform fluctuates around $10-200 thousand and it will take the same amount on marketing promotion – a little less if you use bounty campaigns.

What is the minimum net worth requirement for P2P lending platforms?

RBI regulations Every P2P lender should obtain a certificate of registration from the RBI. Every existing and non-banking NBFC-P2P should register with the Department of Non-Banking Regulation, Mumbai. Further, the P2P should have a net owned fund of at least 20 million and meet other conditions laid down by RBI.

How do I start a peer-to-peer loan?

When you apply for a P2P loan, the process typically involves the following steps.

1. You complete and submit an online application.
2. The lending platform may assign you a risk category or grade.
3. Investors review your loan request.
4. You accept the loan.
5. You make monthly payments.

Which is the best P2P lending site in India?

Platforms Facilitating Peer-to-Peer Lending in India

Which is the best peer to peer lending in India?

Lendbox– Lendbox is located in New Delhi and is one of the leading P2P lending platforms in India. This RBI certified NBFC-P2P company has around 2,00,000 registered borrowers and 20,000 registered investors. With an average ROI of 24\%, this platform can help you save more and create a stable passive income.