What is Peer to Peer Lending?

EMM1000_facebook-banner-2-1024x378 What is Peer to Peer Lending?

So what is peer to peer lending? To understand peer to peer lending, or P2P lending, you need to understand (1) the role of a bank; (2) borrowers; and (3) P2P investors. Let’s discuss each of these in turn below.

    (1) The banks, which (1) store your savings; and (2) lend money, like your savings, out to borrowers;
    (2) Borrowers are everyday people looking to borrow money for all sorts of reasons. Such as to renovate their home, go on holiday, buy a car or to undergo surgery; and
    (3) Peer-to-peer investors, which is the new part. These are everyday people, like you, lending money to borrowers in amounts as little as $50. OurMoneyMarket enables everyday people to replace the banks by allowing them to lend directly to borrowers through the OurMoneyMarket platform.

Check out OurMoneyMarket’s “Peer to Peer Lending for Dummies” infographic here for more information.

What are the benefits for borrowers?

    (1) Lower Interest Rates: OurMoneyMarket tailors interest rates based on each borrower’s personal circumstances. Therefore, borrowers with good credit history are rewarded with lower rates on their personal loans.
    (2) 100% Online: A quick and easy, 100% online application. Therefore, there is no printing and no paper involved. Meaning no fuss!
    (3) Simple and Flexible: OurMoneyMarket offers 1, 2, 3, 5 and 7 year loan terms, as well as weekly, fortnightly and monthly repayment options. There are no monthly account keeping fees, no exit fees and no early prepayment fees.

Click here to apply for an OurMoneyMarket personal loan.

What are the benefits for investors?

    (1) Competitive returns: Fixed rates of interest ranging from 7.04% to 29.53%.
    (2) Flexibility and Choice: OurMoneyMarket lets you invest the way you want to invest. You can either “handpick” the loans you’d like to invest in, or simply pick the rate and term of your investment and leave us to do the rest.
    (3) Diversification: With a minimum investment amount of $50, you can reduce your portfolio risk and volatility by diversifying your investment across many loans.
    (4) Regular Cash Flow: This is a fixed income investment product. As an investor, you will receive fixed principal and interest repayments just like a bank would! You can either automatically reinvest the cash or withdraw it to suit your needs.

How do I start investing?

    (1) Create an OurMoneyMarket investor account here.
    (2) Learn how to invest and more about the risks of investing by referring to the OurMoneyMarket PDS.

Click Here to Register Now as an OurMoneyMarket Investor