Review of my investments on Lendbox. Review on Lendbox

Lendbox has been a surprise for me. To be honest I was sceptical initially - one because p2p lending is a relatively new field and two - there were some not very good reviews here about the company. So far, I have 18 investments and 15 are running on track with no overdues. I have been invested for 8 months and here is an honest feedback -

Pros -

1. Diverse borrower pool. Other p2p platforms hardly have 3-4 borrowers live at any given point of time and there is not much to choose from.

   
   




2. Automated EMI transfer - they have NACH based payments; followed by collections by in house team if NACH bounces.

   
   




3. A good return is possible if we reinvest the returns made I have realised.

   
   




4. After working with 4 different platforms, I can confidently say that their undewriting/credit verification is better than other players in the industry.

   
   




5. I like the fact that they allow borrowers and lenders to mutually negotiate the rate of interest.

   
   




6. I like the fact that they interact with me over whats app - I get updates regarding transfers, and can receive and pass on information without having to attend a phone call.

   
   

Cons -

1. Their support is a bit erratic - they take a good amount of time to respond to queries/concerns.

   
   




2. Their dashboard needs some improvement.

   
   




3. There is little clarity on overdue penalty amount - I have not received it for all delays.

   
   

I have preferred short-duration loans with maturity upto one year. I have also not invested more than 25% of the total loan amount in any loan. I think these strategies have helped in keeping my portfolio relatively clean.

I will update my review if future experience changes drastically.