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Alex Chua
29 Nov 2019
Seedly student Ambassador 2020/21 at Seedly
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It depends on the platform. I have been with Funding Societies and default rate is about 1 to 3 per ...
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Hello! Iām Jin Wen from CoAssets Pte Ltd (āCoAssetsā) and would love to give my two cents :)
Understanding DefaultāÆRisk In accordance to Monetary Authority of Singapore (MAS), a non-performing loan (I.e. loan default) occurs when a repayment remains unpaid at least 30 days past the due date. Source:āÆhttps://www.mas.gov.sg/-/media/MAS/Regulations-... Default Risk and CoAssets
As per MAS calculation,āÆCoAssetsāÆPte.āÆLtd. has achieved a default rate of 0% for 2018. You may refer to our statistics here: https://coassets.com/asx/about/ ( Visit āStatisticā tab under āAbout Usā section).
Having said that, past performance is not an indicatorāÆof anyāÆfuture performance as P2P lending is high risk after all and default is always possible. Overall, every investment comes with their own set of risks. It is advisable that investors must do their own due diligence to determine if the products match their investment objectives and risk appetite. Hope this helps!āāā