Is P2P Lending in SG worth the effort?
Recently read up on P2P Lending in SG such as Seedin, Funding Societies, CoAssets, etc. (Even read some reviews on seedly!)
Got around to doing my own research and found that there isn't much Background Data on the companies.
So my question to those who actual invested their monies in P2P lending is;
1) Out of XX number of P2P investment, how many have you have held till maturity and gotten back capital + promised interest rate?
2) Is their promised 1 month interest payment regular?
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Kelly Trinh
21 Dec 2019
Backoffice technical at financial services firm
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Loh Tat Tian
20 Dec 2019
Founder at PolicyWoke (We Buy Insurance Policies)
There isn't much work needed since the platform qualifies the investment.
But ome platforms are doing well (no defaults), so you may wish to explore how they do the assessment before investing into the P2P deals.
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You are relying on the organising company to vet firm well. They are suppose to categorise and allow you to choose based on their evaluation. Check out the materials provided by the organising company. MAS has put through a standardised reporting mechanism and so at least the default/interest stratistics comparable.