Peer to Peer Lending in Nigeria (P2p)

1

Is Peer to Peer Lending Great? I have NX,XXX,XXX cash that has been sitting in my account for a while, I have put some into stocks, fixed income…can you recommend a reliable secured and insured peer to peer lending platform in Nigeria? I would like to explore since it offers a better rate than bank’s savings.

I finally found the best low risk and high return investment opportunities that pay higher than fixed deposit.

2

Fint.ng looks legit.

3

I just registered but it’s quite complex to navigate

4

@Chiwete is the CEO (according to this post) so maybe he can help.

5

yup fint.ng are the people you need

6

I think, the platform isn’t ready

7

Hmm…
I think there’s a need for some financial literacy/ education in our confines. There’s a lot of people with bits of idle cash in there bank accounts and all they soever do with it is receive a 3% pa interest (that’s like 0.25% interest per month).

Farmcrowdy seemed like a good option last year although it’s seasonal, still better than 0.25%.

8

I’ve been thinking that maybe it’s a good idea to use bank accounts as current accounts while mutual funds become the new savings accounts (a number of people use it as such now, but not nearly enough), because as far as I know they

  • are easily accessible
  • are risk free
  • provide returns (~8-11% per annum) that are a lot closer to Nigeria’s inflation rates (15% per annum abi?) than the 3% returns from your bank (is it really just 3%? Wow) - which prevents your purchasing power from declining so dramatically over a short period.
9

StartCredits provides interest rates earned on fixed deposit accounts by banks in Nigeria. This will enable you to maximise your return on the idle cash.

StartCredits also provided learning tools, educational articles and financial tests to boost financial literacy, so Nigerians can make better financial decisions.

www.startcredits.com

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