CRED is launching its first community-sponsored product that allows members to earn interest in non-profit money by lending it to other believers.
The merchandise, CRED Mint, is partnered with Liquiloans, an RBI-registered P2P NBFC. Participants in the CRED Mint can earn interest growth of up to 9% every year, which is above traditional methods.
Benefits for financial accountability: Rising prices and taxes erode savings, but CRED members have on average 2 lakh sitting in their savings accounts. With up to 9% interest, CRED Mint allows many of India’s top investors to benefit from being financially responsible and a smart way to generate non -profit for them. CRED members can apply for early admission to Mint.
Higher reliability, low risk: CRED Mint is fired by its community. Investments made in CRED Mint are lent through CRED Cash, a commodity loan created for CRED members who are highly trusted in partnership with NBFC licensed banks. Members ’confidence in CRED Cash for emergencies has increased over the past year; with over 2,415 crores in losses, CRED is India’s leading fintech lender.
With CRED Mint, members can securely fund money knowing they will only lend to others like them: India’s most trusted CRED representatives are best known for their words. Even with the CRED Cash rate, the rate deficit was below 1%. To reduce risk, the funds will be given directly to an investment escrow held by CRED’s NBFC partner, Liquiloans, and increased to 200+ loans on average.
Invest and withdraw money in a few clicks: CRED has made the process of depositing money with Mint simple, clear, and fast. Members can place between Rs 1,00,000 to Rs 10,00,000 in less than two minutes, with no commission. They can request a one-click refund, partially or in full at any time without penalty, and receive interest for the funding period.
The withdrawal of transactions is made on the website, and the money and interest will be returned to the depositor within the working day. As a digital platform, CRED reduces conflicts, inefficiencies, commissions, and overheads to pass on higher pay for members. “The strength of CRED is our community’s most credible”, said Kunal Shah, Founder, CRED. With CRED Mint, we can hire trustees to help each other in their journey of financial progress.
“We believe in allowing those who demonstrate good financial behavior and the benefits they deserve”.
Shah said, “The product democratizes access into risk, interest rates, and a frictionless, clear, and amusing financial experience for members of the foremost most trusted CRED”.