CRED MINT FD RATE DROP or Should we say devaluation :)

[Zacobite]

CRED MINT just removed their flexi program and reduced the rates.. now all deposits have lock in.. minimum 3 months... it used to be 9% for flexi and 10.5 for 24 months till yesterday..is this also a devaluation.. it was a decent option for some funds to be parked

 

[yusuf646]

Mobikwik also did the same. Removed the flexi program & reduced intrest rates.

 

[Zacobite]

Mobikwik also did the same. Removed the flexi program & reduced intrest rates.

v bad... it was a gd option

 

[maheshspanicker]

If they need to attract people, they need to reward better. Banks are now offering FD interest rates up to 8 percent (IDFC for eg). Why would anyone take risk with P2P options when the risk reward ratio isn't great?
Anyone tried Liquid funds instead? They may not be as rewarding as the P2P options, but are they better than short term FDs?

 

[raghumahajan]

Actually Cred Mint, Mobikwik P2pP, BharatPe 12% Club are backed by a NBFC named LiquiLoans.
So any changes in intrest or lock-in is performed by LiquiLoans and eventually reflect in every 3rd party app showing their interface.

So if you hear any thing bad regarding LiquiLoans - PANIC and withdraw.

 

[Zacobite]

Actually Cred Mint, Mobikwik P2pP, BharatPe 12% Club are backed by a NBFC named LiquiLoans.
So any changes in intrest or lock-in is performed by LiquiLoans and eventually reflect in every 3rd party app showing their interface.

So if you hear any thing bad regarding LiquiLoans - PANIC and withdraw.

et money and cred is what i use... i like p2p lending model as the risk is spread out and we can use for short term churn.. small ticket lending usually is more stable.. but yes risks exist and have to be planned for