LenDenClub, a peer-to-peer (P2P) lending platform, has launched a new daily earning loan that allows lenders to earn daily interest along with principal repayments, which are credited directly to their bank accounts.
With this launch, the platform allows lenders/investors a choice of loans starting from 9 9-month tenure, with interest income beginning the next day. It serves as an alternative for individuals seeking regular income through the LenDenClub platform. Lenders can lend as little as Rs. 250 to a borrower with a choice out of hundreds of borrowers on the platform.
The product is suitable for individuals needing consistent cash flow. Parents can use it to generate pocket money for their children, while retirees can cover health expenses to purchase daily medicines from this income. It can also support daily costs such as fuel, public transit, or rideshare expenses. No other instrument can provide you with such a daily earning opportunity.
Bhavin Patel, CEO of LenDenClub, said, “The launch of the Daily Earning Lending Option is a key development for us. By offering daily income from loans, we provide lenders with immediate liquidity and flexibility. This initiative aligns with our goal of simplifying financial opportunities through usage of technology. Our system processed 23 Crores of transactions between lenders and borrowers on the platform. Our technology is so robust that we are able to provide such complex solutions like processing daily EMIs from borrowers to lenders.”
