Mobikwik Xtra discontinues Flexi & Plus. Withdrawal also paused.

[simplewarrior]

Mobikwik has stopped withdrawals for its both plans Flexi & Plus, Full withdrawal of invested amount also stopped.

From now on, repayments will be in installments.



Mobikwik reinvested P2P lenders' money without their consent:

Thread 'Mobikwik reinvested P2P lenders' money without their consent'

Sep 8, 2024

Mobikwik Xtra is a peer-to-peer (P2P) lending platform that partners with Lendbox to facilitate P2P lending across the country. However, Mobikwik and similar platforms were somewhat misleading their customers by advertising these platforms as offering a 12% fixed income opportunity with the ability to withdraw money anytime. As a result, the RBI had to step in and introduce a new set of guidelines for such companies and their customers, effective from August 16, 2024.

According to the "Master Direction - Non-Banking Financial Company – Peer to Peer Lending Platform," dated August 16...

• TechnoFino
• mobikwik mobikwik p2p scam mobikwik scam mobikwik xtra p2p p2p
• Replies: 277
• Forum: Banking Complaint

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[codenerd]

Guys check your accounts, there is more payment available for withdrawal

pls share screenshot. Cant see anything being available to withdraw specially today. I hv 3 accoutns but cant see anything. pla share screenshot of today.

 

[Tocoliso]

Yes I got some more payment. I think as and when the borrower repays. MobiKwik will also repay.

 

[coolguy1]

It always looked a little suspicious but it's good to see people are getting back their money slow and steady!

 

[RajS]

I got some repayments and withdraw the same

pls share screenshot. Cant see anything being available to withdraw specially today. I hv 3 accoutns but cant see anything. pla share screenshot of today.

 

[codenerd]

someone pls sharwvscreenshot who were abel to withdraw today

 

[percolate]

someone pls sharwvscreenshot who were abel to withdraw today

I was able to withdraw on the 30th

 

[virtuoso]

I read this somewhere in the app or repayment schedule that we will get our payments on 12th (as per the repayment schedule) and remaining will be available on 30th.

As per my observation, if your first repayment says 1,00,000 - 1,25,000 will be repaid on 12th of x month, and you get 40,000 on 12th, you may get remaining 60,000 on 30th.

I got the exact same amount.

Though we are getting our money back, we aren't getting any interest.

 

[codenerd]

I read this somewhere in the app or repayment schedule that we will get our payments on 12th (as per the repayment schedule) and remaining will be available on 30th.

As per my observation, if your first repayment says 1,00,000 - 1,25,000 will be repaid on 12th of x month, and you get 40,000 on 12th, you may get remaining 60,000 on 30th.

I got the exact same amount.

Though we are getting our money back, we aren't getting any interest.

We cant be sure. Just a rumor. They just followed the 12th and 30th payment cycle for September. Lets see id they continue the 12th and 30th trend in october also. But they have badly screwed us.

 

[HumorSimpson]

Withdrawal Live again. Now it's just 8k compared to 10k earlier

 

[AlooDum]

Withdrawal Live again. Now it's just 8k compared to 10k earlier

if this is the trend they continue we are bound to lose upto 30% of our principle. Forget the interest part😢

 

[percolate]

have anyone received interest this time?

 

[virtuoso]

have anyone received interest this time?

no interest this time either 🥲

 

[AlooDum]

Anyone got withdrawal option today?

 

[RajS]

Anyone got withdrawal option today?

Showing withdrawal date as 12th Nov

 

[RAMESH BABU N]

if this is the trend they continue we are bound to lose upto 30% of our principle. Forget the interest part😢

Sad to see this happening.

Despite best education, multiple qualifications, highly lucrative legal incomes at young ages, all pervasive and ever know-all information n data boom, access to all investment channels even in the remotest parts, access to almost all good/better/safe options available......

Greed destroys anyone n everyone.

Forget about interest. Principal amounts get eroded.

There are many age old sayings in Telugu (n probably, in all other languages too) asking/advising people to be careful n cautious, prudent n vigilant, well informed n balanced and diligent n matured in dealing with Lakshmi (money matters).

 

[Credit raja]

Sad to see this happening.

Despite best education, multiple qualifications, highly lucrative legal incomes at young ages, all pervasive and ever know-all information n data boom, access to all investment channels even in the remotest parts, access to almost all good/better/safe options available......

Greed destroys anyone n everyone.

Forget about interest. Principal amounts get eroded.

There are many age old sayings in Telugu (n probably, in all other languages too) asking/advising people to be careful n cautious, prudent n vigilant, well informed n balanced and diligent n matured in dealing with Lakshmi (money matters).

Sir,
Do you know about "Stable Money" FD investment app they claim all the bank they listed are RBI governed and FD upto INR 5L is insured by Deposit Insurance and Credit Guarantee Corporation.

Do you think is it a safe choice as we cant go each and every bank for opening FD (Some Bank ask to open Saving Acount for FD) ??

 

[Credit raja]

After this P2P Mobikwik extra and Bhartpay one can try to comparatively lesser but safe investment option "Bank FD's"

I’ve started using Stable Money for my FDs, and now I’m earning 9.50% annually! 💰 Plus, up to ₹5L is insured by RBI’s DICGC, so it feels really secure.



Here’s my invite link to check it out and claim a ₹200 welcome reward:

https://stablemoney.onelink.me/rkWL/8grk92n6



I think you’ll find it worth a look! 😊

 

[Ram1]

I read this somewhere in the app or repayment schedule that we will get our payments on 12th (as per the repayment schedule) and remaining will be available on 30th.

As per my observation, if your first repayment says 1,00,000 - 1,25,000 will be repaid on 12th of x month, and you get 40,000 on 12th, you may get remaining 60,000 on 30th.

I got the exact same amount.

Though we are getting our money back, we aren't getting any interest.

Why are we not getting interest?

 

[Daunt]

Sir,
Do you know about "Stable Money" FD investment app they claim all the bank they listed are RBI governed and FD upto INR 5L is insured by Deposit Insurance and Credit Guarantee Corporation.

Do you think is it a safe choice as we cant go each and every bank for opening FD (Some Bank ask to open Saving Acount for FD) ??

Upto 5L is secured and covered under RBI. That include Principal + Interest.
Only banks are insured under DICGC, not NBFC. So FDs from Bajaj Finance, Shriram & other NBFCs will not be secured

 

[RAMESH BABU N]

Sir,
Do you know about "Stable Money" FD investment app they claim all the bank they listed are RBI governed and FD upto INR 5L is insured by Deposit Insurance and Credit Guarantee Corporation.

Do you think is it a safe choice as we cant go each and every bank for opening FD (Some Bank ask to open Saving Acount for FD) ??

Every tom, dick n harry can claim anything in India.

After all, it's your money. Hard earned money demands more mature, informed n dependable decisions. So, spend time, energy n effort.

Or, you just saw what is happening now.

Easy money - not sure (luckily, I never had. Nor, I ever intend to).