Is it safe to invest in 12% club?

[kkk]

Bro, yeh hai to ek hi entity, if that has different cs then it's ok otherwise Mobikwik wallet's cs is worst.

I think it doesn't matter, I Invest, I Lose, RBI won't interfere...

I am not opposing it, just the point is that I don't wanna take this much risk with Mobikwik and I am happy with Auto Sweep..

Also I had already lost the hope of getting that 918rs back as their cs is also one of the worst.

Do you invest in Mutual Fund/Stock market(regulated by SEBI)? Do you keep money in private Bank(regulated by RBI)? Even in these cases, there is risk. SEBI will not interfere. For Bank, you might have to fight out to get your amount present in FD and Savings account even with RBI interference that too upto 5 lacs only. Beyond that, RBI won't interfere much. So risk is there in this also. I am not saying P2P is totally risk free and put all of your amount here. I have distributed my investment in Saving account, FD, Mutual Fund, Indian stock market, US stock market, Bonds, SGB, Crypto, Invoice Discounting and P2P. So, P2P is one of the instrument that I am using.
Mobikwik is a platform and it has tie up with Lendbox for it's P2P. So, in case Mobikwik CS doesn't help then you can reach out Lendbox as well(So, far this has not happened for me).

 

[msivanandareddy]

Just to try, I invested 10k in December as i was don't want to take much risk for a higher amount, they are giving 3.29Rs on a daily basis which means 1200Rs P.a.(12%). It's been a month only since i have started using this app. Not sure about the future.

Ok. Thank you

 

[wolfdalalstreet]

Thank you - Googling got me here: https://cleartax.in/s/peer-peer-p2p-lending-india



So above 10 lac is difficult but not impossible!

For above 10 lakhs, you can go for Cred Mint (but it is 9%). Since the P2P investments are capped at 50 lakhs, Cred Mint allows you to invest till 50 lakhs. For this, you will first need to reach the 10 Lakhs Mint limit. After that, you will need to share with them the bank statements/MF statements/other P2P statements etc showing that you own 50 Lakh rupees (including Mint 10 Lakhs - so technically you need to own another 40 Lakhs), and they will open the clearance of 50 Lakhs investment limit for you.

 

[R!ppEr]

axis blocked my payment to 12% club both from debit card and upi and i also got a call from the security team confirming if i was the one making the payment! was a red flag for me and i uninstalled the app

 

[luckymurari]

For above 10 lakhs, you can go for Cred Mint (but it is 9%). Since the P2P investments are capped at 50 lakhs, Cred Mint allows you to invest till 50 lakhs. For this, you will first need to reach the 10 Lakhs Mint limit. After that, you will need to share with them the bank statements/MF statements/other P2P statements etc showing that you own 50 Lakh rupees (including Mint 10 Lakhs - so technically you need to own another 40 Lakhs), and they will open the clearance of 50 Lakhs investment limit for you.

Interesting - wouldn't go with so much pain for 9% from Cred. Instead will choose Mobikwik Xtra or other platforms that givre 12%

 

[wolfdalalstreet]

Interesting - wouldn't go with so much pain for 9% from Cred. Instead will choose Mobikwik Xtra or other platforms that givre 12%

What I meant was if your Xtra and 12%C both are full then!

 

[baheria]

12% club just removed the referral program so maybe their liquidity is getting tight

 

[SiddharthR]

12% club just removed the referral program so maybe their liquidity is getting tight

Don't think so,
Company removing referral program for less expenses...

 

[kkk]

12% club just removed the referral program so maybe their liquidity is getting tight

Existing people are still getting referral amount. And they have stopped referral before as well for new user.

 

[akashasnani]

how instant withdrawals incase of emergency ?

 

[kkk]

how instant withdrawals incase of emergency ?

These days it can take upto 4 working days(I have so far got max in 48 hours).

 

[wolfdalalstreet]

Existing people are still getting referral amount. And they have stopped referral before as well for new user.

Existing people ain't getting it now. My referral amounts which used to get credited every month, have stopped now.

 

[kkk]

Existing people ain't getting it now. My referral amounts which used to get credited every month, have stopped now.

Ooh ok.

 

[udyam]

Thank you - Googling got me here - udyam registration portal

The maximum amount per lender is capped (in the aggregate) across all P2P platforms at Rs 50,00,000.

 

[Deleted member 9785]