12% Club disassociating itself?

[xfactcc]

I have been invested in 12% over a year now with several lakhs balance. Few months ago they reduced their income generation to 11% pa despite maintaining the name.

Today I recieved this message on WhatsApp:
"*Exciting News: Investment Returns are here!*

We're happy to be a part of your visionary investment journey!

Due to recent changes in our lender & policies, the amount you’ve invested and the interest you've earned will be transferred back to you on 10 November 2023.

You will continue to receive daily earnings on your invested amount till the previous day 9 November 2023.

Stay tuned, we'll open the window shortly for you to invest and thrive with us again.

In case of any queries, please reach out to us at support@twelve.club"
As well as via notification I think.

I don't know how this is supposed to be exciting news for me, but okay...

A few months ago I recommended a friend this who invested few thousands but had his entire investment returned with interest generated thus far in a month or two. I thought they are not looking for low-value investments since I didn't receive anything as such until today.

Anyone else got the same? I guess following my friend's experience, it may be that they are shredding investors gradually, and today's my turn.

I will be moving to Mobikwik Xtra and anything else you may suggest. 🙏

 

[vaibhav111]

I have been invested in 12% over a year now with several lakhs balance. Few months ago they reduced their income generation to 11% pa despite maintaining the name.

Today I recieved this message on WhatsApp:
"*Exciting News: Investment Returns are here!*

We're happy to be a part of your visionary investment journey!

Due to recent changes in our lender & policies, the amount you’ve invested and the interest you've earned will be transferred back to you on 10 November 2023.

You will continue to receive daily earnings on your invested amount till the previous day 9 November 2023.

Stay tuned, we'll open the window shortly for you to invest and thrive with us again.

In case of any queries, please reach out to us at support@twelve.club"
As well as via notification I think.

I don't know how this is supposed to be exciting news for me, but okay...

A few months ago I recommended a friend this who invested few thousands but had his entire investment returned with interest generated thus far in a month or two. I thought they are not looking for low-value investments since I didn't receive anything as such until today.

Anyone else got the same? I guess following my friend's experience, it may be that they are shredding investors gradually, and today's my turn.

I will be moving to Mobikwik Xtra and anything else you may suggest. 🙏

i tried to invest but then it showed me up to 10.50% not even 11% i dropped out and will invest in mobikwik xtra.

 

[xfactcc]

i tried to invest but then it showed me up to 10.50% not even 11% i dropped out and will invest in mobikwik xtra.

When? The investment window has remained closed for me for months now. Since this was my first P2P investment, and they are not allowing fresh investments I kept the funds with them out of loyalty even with the 1% less income.

 

[sxchzy]

yes
they have reduced rates to 9.5%
nims have been contracting for them or npas are increasing either way cost cutting

 

[AritraSaha]

I have been invested in 12% over a year now with several lakhs balance. Few months ago they reduced their income generation to 11% pa despite maintaining the name.

Today I recieved this message on WhatsApp:
"*Exciting News: Investment Returns are here!*

We're happy to be a part of your visionary investment journey!

Due to recent changes in our lender & policies, the amount you’ve invested and the interest you've earned will be transferred back to you on 10 November 2023.

You will continue to receive daily earnings on your invested amount till the previous day 9 November 2023.

Stay tuned, we'll open the window shortly for you to invest and thrive with us again.

In case of any queries, please reach out to us at support@twelve.club"
As well as via notification I think.

I don't know how this is supposed to be exciting news for me, but okay...

A few months ago I recommended a friend this who invested few thousands but had his entire investment returned with interest generated thus far in a month or two. I thought they are not looking for low-value investments since I didn't receive anything as such until today.

Anyone else got the same? I guess following my friend's experience, it may be that they are shredding investors gradually, and today's my turn.

I will be moving to Mobikwik Xtra and anything else you may suggest. 🙏

I stop using 12%club few months ago. They used to stop new investment from time to time.

 

[vaibhav111]

When? The investment window has remained closed for me for months now. Since this was my first P2P investment, and they are not allowing fresh investments I kept the funds with them out of loyalty even with the 1% less income.

i have 2 cred accounts with me, on two different devices.. so i managed to get one working and i unlocked mint by giving 1 lakh cred useless coin. Then it a few steps later it showed a minimum 1 lakh need to invested for 9.5% which would have been the first p2p investment and it had an agreement. So i was in this tricky agreement so i exited the app and a few days later it showed up to 10.5% i guess it was a notification message cred and didn't seem true.

 

[xfactcc]

Update:

I suppose they switched their lending partner hence they returned the investment I had with their previous partner Lendenclub I think. Now I see these... check the screenshots. They have partnered with Liquiloans now.

 

[aayusharyan]

I have been invested in 12% over a year now with several lakhs balance. Few months ago they reduced their income generation to 11% pa despite maintaining the name.

Today I recieved this message on WhatsApp:
"*Exciting News: Investment Returns are here!*

We're happy to be a part of your visionary investment journey!

Due to recent changes in our lender & policies, the amount you’ve invested and the interest you've earned will be transferred back to you on 10 November 2023.

You will continue to receive daily earnings on your invested amount till the previous day 9 November 2023.

Stay tuned, we'll open the window shortly for you to invest and thrive with us again.

In case of any queries, please reach out to us at support@twelve.club"
As well as via notification I think.

I don't know how this is supposed to be exciting news for me, but okay...

A few months ago I recommended a friend this who invested few thousands but had his entire investment returned with interest generated thus far in a month or two. I thought they are not looking for low-value investments since I didn't receive anything as such until today.

Anyone else got the same? I guess following my friend's experience, it may be that they are shredding investors gradually, and today's my turn.

I will be moving to Mobikwik Xtra and anything else you may suggest. 🙏

It will be funny if 12% club cannot offer 12% Return even. lol

 

[xfactcc]

It will be funny if 12% club cannot offer 12% Return even. lol

Yup, they're providing 10.5% higest with lock-in, lol.

 

[aayusharyan]

Yup, they're providing 10.5% higest with lock-in, lol.

Hmmm, interesting. For me it says new Investments Closed, and I am still getting 12% on my investments with them.

 

[Deleted member 9785]

mutual funds on an average give 11-12%. Why people invest in such dubious schemes?

 

[coolguy1]

mutual funds on an average give 11-12%. Why people invest in such dubious schemes?

Long term - MFs perform great.
But I think during uncertain markets, these still guarantee the same returns so some people prefer these.

Entirely depends on the risk appetite and the trust in the new-age brands.

 

[RAMESH BABU N]

How can these P2P guys give clean 12% - that too with credits on a daily basis ?

They need to factor their bank charges, their staff n systems expenses and a feasible profit margin.

With increased number of players in this arena, the rates are bound to fall. I am not surprised.

This new fad is similar to what we have seen many times till now - chit funds, gold loan firms, private cooperative banks, MLMs, liberal EMI firms.... All these promised n delivered unrealistic but real profits - ONLY in the initial weeks/months. After it attain sizeable levels, then the real problem starts. P2P is at this level now.

Be careful. Those who enter now will face rough weather n must be ready to be potential losers.

I wonder whether there are any the legal ways to recover the principal money or contractually agreed profits/interests.

Paper based n properly stamped n signed documents are needed to fight legal battles - not just phone-based Apps.

Interesting times ahead.

 

[prash1161]

How can these P2P guys give clean 12% - that too with credits on a daily basis ?

They need to factor their bank charges, their staff n systems expenses and a feasible profit margin.

With increased number of players in this arena, the rates are bound to fall. I am not surprised.

This new fad is similar to what we have seen many times till now - chit funds, gold loan firms, private cooperative banks, MLMs, liberal EMI firms.... All these promised n delivered unrealistic but real profits - ONLY in the initial weeks/months. After it attain sizeable levels, then the real problem starts. P2P is at this level now.

Be careful. Those who enter now will face rough weather n must be ready to be potential losers.

I wonder whether there are any the legal ways to recover the principal money or contractually agreed profits/interests.

Paper based n properly stamped n signed documents are needed to fight legal battles - not just phone-based Apps.

Interesting times ahead.

The same way i think.
But these 12% is attracting me as I am getting only 5% currently

 

[CC-Muncher]

Mobikwik extra gives 12% and with flexi option selected as daily u can withdraw any day.

 

[prash1161]

Mobikwik extra gives 12% and with flexi option selected as daily u can withdraw any day.

It looks like Pyramid skim
They give 10% of the intrest to referral person to.

 

[CC-Muncher]

It looks like Pyramid skim
They give 10% of the intrest to referral person to.

There lending partner is lendbox, so its p2p and no pyramid scheme here.

You can download the borrower statement as well which shows to whom your money is lent

 

[prash1161]

There lending partner is lendbox, so its p2p and no pyramid scheme here.

You can download the borrower statement as well which shows to whom your money is lent

You should watch this