About Monexo innovations limited
Monexo Innovations Limited: India's Leading P2P Lending Marketplace
Monexo Innovations Limited is a leading peer-to-peer (P2P) lending marketplace in India that offers instant personal loans and high returns on investments. The company was founded in 2014 by Mukesh Bubna, a seasoned banker with over 25 years of experience in the financial industry.
Monexo's mission is to provide an alternative source of financing for individuals and small businesses who are unable to obtain loans from traditional banks due to various reasons such as lack of credit history, collateral or high interest rates. By connecting borrowers directly with investors, Monexo eliminates the need for intermediaries such as banks and financial institutions, thereby reducing costs and increasing efficiency.
The platform uses advanced technology and algorithms to match borrowers with investors based on their creditworthiness, risk profile and investment preferences. Borrowers can apply for personal loans ranging from Rs. 50,000 to Rs. 5 lakhs at competitive interest rates starting from 12% p.a., which are lower than those offered by most banks and NBFCs (Non-Banking Financial Companies). Investors can lend money starting from Rs. 10,000 with expected returns up to 30% p.a., depending on the risk level of the borrower.
Monexo offers several benefits for both borrowers and investors:
For Borrowers:
- Quick approval process: Loans are approved within minutes after completing the online application form.
- No collateral required: Loans are unsecured, which means there is no need to pledge any asset as security.
- Flexible repayment options: Borrowers can choose their repayment tenure ranging from 6 months to 36 months.
- Lower interest rates: Interest rates offered by Monexo are lower than those charged by most banks or NBFCs.
- No prepayment penalty: Borrowers can prepay their loan without any penalty charges.
For Investors:
- High returns: Investors can earn returns up to 30% p.a. depending on the risk level of the borrower.
- Diversification: Investors can diversify their portfolio by investing in multiple loans with different risk levels.
- Transparency: Monexo provides detailed information about each borrower's creditworthiness, risk profile and loan purpose, which helps investors make informed investment decisions.
- Auto-invest feature: Investors can use the auto-invest feature to automatically invest in loans that meet their investment criteria.
Monexo has a robust risk management system in place to ensure that investors' funds are protected. The company conducts thorough due diligence on each borrower before approving their loan application. It also uses advanced technology such as machine learning and artificial intelligence to monitor borrowers' creditworthiness and detect any potential default risks.
Monexo is registered with the Reserve Bank of India (RBI) as an NBFC-P2P, which means it complies with all regulatory requirements set by RBI for P2P lending platforms. It also has tie-ups with leading banks such as ICICI Bank and Yes Bank for escrow services, which ensures that borrowers' repayments are securely transferred to investors.
In conclusion, Monexo Innovations Limited is a reliable and trustworthy P2P lending platform that offers a win-win solution for both borrowers and investors. With its user-friendly interface, quick approval process, competitive interest rates and high returns on investments, Monexo is revolutionizing the way people borrow and lend money in India.