Why Online Peer To Peer Lending Is The Need Of The Hour?

There are very less things that have not touched the digital spectrum in today’s competitive market. With the people of our country becoming more and more tech savvy, there is almost every other company, which wants to do something online. The e-commerce industry has also grown a great deal. With online you can actually reach more people and more states of a country in a single communication. This is the beauty of going online with your communication.

One platform come up recently called the Lender Borrower Circle or LB circle is an initiative to provide better financial services to the clients sitting at their home. It facilitates peer to peer lending through online mediums. 

Here’s why this one of the best financial services you can opt for in case you are planning to lend or borrow money.

The first and foremost thing is that it offers both the parties i.e the lenders and the borrowers an option to set the rates themselves. How this is beneficial to both is, say for example if the bank offers the lentders 9% rate of interest and the borrowers an 18% rate of interest, they can easily settle in on a rate between 9 and 18% which is beneficial to both. This is how such a platform is beneficial to both the parties. Apart from this also there are many other major advantages like you can choose who to borrow from or who to lend to, you can set an EMI scheduling, and there is debt recovery assistance and so much more.