Has anyone had experience with Unicard Power up ? They are apparently promising 9% returns compounded w/o any charges or lockin period ? Do you feel there are any risks involved ?
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Unicard Powerup
- Thread starter plastikman
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- Replies 18
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Seems interesting will have a look at it
I got a call today. Was wondering if any else had experience with them. 🙂
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I saw it has no markup fees but is it secured or unsecured?
It's a deposit scheme unlike a card.
It operates on a peer-to-peer (P2P) model where they lend money to users, mostly credit card users, at high-interest rates, and then offer you a 9% interest rate. This is similar to platforms like Cred Mint, Mobikwik Xtra, and 12% Club, but it carries higher risks and lower interest rates. I would advise against investing in any P2P-like schemes unless you have surplus funds to invest. It's important to note that these schemes come with significant risks, and while you may not experience the consequences immediately, sooner or later, you may regret your decisions.
Seems they've partnered with Liquiloans. Same P2P partner who backs Cred Mint.
Good thing is, their min amt criteria is lower (10,000) than Cred Mint (1,00,000).
Thank you very much for your insights 🙂
I have little experience with liquid loan via Fi bank
I lend minimum 20k every month and take it out 29th of every month and haven't had any issue so far
True that.
I have been using Liquiloans for past 1yr+ as an replacement to liquid funds/overnight funds to park my money.
And its been a smooth sail till now.
s73uresh
TF Select
In which app or instrument you are mentioning that you lend and take it. Pls share the details. Thanks
RajeshV
TF Premier
The answer is right there in your quote. He said he's using Fi.
s73uresh
TF Select
Yes it is in Fi, but looks there is no flexi withdrawal option with high returns(10% p.a), the investment is locked for 1 year. Flexi deposit option gives upto 8% only.
Yes you are right but with flex you can get the funds back at anytime with 8%
modz
TF Neo
Have invested 10,000 last year, wanted to withdraw the amount today. Found no option to withdraw, called customer care on 8068216821 , was told all investments and withdrawal are on some temporary hold as per guidelines by RBI. I have asked for the guidelines , was told you can search on RBI website or search in google.
modz
TF Neo
ok , got a feedback link from them after the call was closed, i made sure to point out the issue i was facing. Got my amount in my bank today.
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