Top reasons for taking a loan on RupeeCircle

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Peer-to-peer lending and borrowing platforms have revolutionized the financial universe by allowing borrowers to take instant loans with low-interest rates. RupeeCircle, a technologically backed P2P platform is helping underbanked individuals to ricochet expensive moneylenders and attain an easy loan. With faster approvals, secure process, no foreclosure, and hidden charges, borrowers are given the opportunity to avail of a loan without the need for a credit score or collateral.

Through our analysis, here are the top reasons for borrowers to take a loan from the RupeeCircle platform: 

  • Home Improvements: A house is a fundamental necessity and its regular maintenance is equally important. Home improvements are necessary to keep the residential area in the best shape possible but it can rip a hole through one’s pocket. An individual can take a loan from the RupeeCircle platform to pay for home improvement expenses without having to dip into their savings.   
  • Medical Emergencies: The future is uncertain. In an unfortunate event such as an illness or accident, the hospital expenses skyrocket. Expensive bills become the primary reason for destroying the future financial planning and creating a burden on the individual paying. Paying for medical emergencies is a top reason for which people take a loan from RupeeCircle. Once the loan amount is disbursed, they can pay expensive medical bills hassle-free. 
  • Education: Every parent dreams of providing the best education to their children. However, the cost of education in good schools and colleges is highly expensive. Parents or students take a loan for the RupeeCircle platform to achieve their dreams of a good education, without having to worry about the fee. The loan taken can be repaid in easy timely instalments with cash or online. 
  • Debt Consolidation: Individuals who have taken a high-interest loan from moneylenders or have an outstanding debt to a credit card company have to experience strict inflexibility at the time of repayment. To clear their outstanding debts, one can avail of a loan from RupeeCircle at the lowest interest rate to get rid of any outstanding debt. 
  • Lifestyle: Life comes with many cheerful events such as marriage, vacations, birthdays, etc. Although it is fun to celebrate them, the event celebration costs can burn a hole in one’s savings. To protect the savings and still revel at these joyous events, people take a loan from RupeeCircle. After the payment is done, the loan can be repaid without diminishing the savings. 

RupeeCircle provides instant loans up to Rs. 5 lacs to a borrower with interest rates starting as low as 12% per annum. A borrower can avail of a loan without any collateral and a credit score. From paying for home improvements to going on a vacation, a loan from RupeeCircle can help you achieve your dreams. The loan process is fully paperless, with our field teams to assist individuals who are willing to take a loan. Irrespective of your financial requirements, a loan from RupeeCircle can become a helping hand on your quest to achieve them comfortably.

This article is authored by Nikhil Prabhakar, Head of Marketing & Products at RupeeCircle. He is an alumnus of IIM Ahmedabad & ESCP Paris and has 10+ years of work experience across multiple industries like Fintech, IT & Energy. He is an active investor across equity, derivatives, debt and real estate.

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