12% Club has partnered with RBI approved NBFCs - hindon mercantile limited, LendenClub (Innofin Solutions Private Limited) and Liquiloans(NDX P2P Private Limited). You will be shown a sanction letter of the NBFC on the app when you opt for a loan and deposit agreement is shown when you choose to invest money.
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How is BharatPe 12% Club?
Consumers using the '12% Club' app can invest their money at any moment by opting to lend money to BharatPe's partner P2P NBFCs. Consumers may also use the '12% Club' app to get no-collateral loans up to Rs 10 lakhs for three months at their convenience.
What is a 12% Club?
The 12% Club app is an interesting and unique way to invest money. The app allows users to invest in a portfolio of stocks that have outperformed the S&P 500 by at least 12% over the past year.
Who owns 12 Club?
Suhail Sameer, CEO, BharatPe. BharatPe on Tuesday said it has entered peer-to-peer (P2P) lending with its product '12% club', which will allow consumers to not only earn 12 per cent interest on the funds they invest but also borrow at an interest rate of 12 per cent.
How safe is 12 Club app?
Ans. Theoretically, you can earn any rate up to 12%. But below 12% returns are only possible when lots of borrowers default. For example if you invest Rs X on the platform, it will be also distributed to let's say 100s of borrowers, so if one defaults that would most likely not hurt your investments.
Which Organisation launched the investment come borrowing application 12% Club?
"Consumers on the 12% Club app can invest their savings anytime by choosing to lend money through BharatPe's partner P2P NBFCs.
How do I withdraw money from 12 club?
The consumers investing via the 12% Club app can put in a request to withdraw their investment anytime, partially or completely, without any withdrawal charges, the company said. Users can use the app by investing as low as Rs 1,000 and get daily credit of interest.