Daily Earnings Leap: LenDenClub Unveils New Loan Product

LenDenClub introduces a daily earning loan product, allowing lenders to earn daily interest and principal repayments. Starting with a tenure of nine months, the platform offers an alternative income source, with minimal lending beginning at Rs 250. The platform boasts a substantial user base and transaction volume.

Peer-to-Peer lending platform LenDenClub has unveiled a groundbreaking daily earning loan product. This initiative enables lenders to receive daily interest and principal repayments credited directly to their bank accounts. The announcement was made on Thursday.

The new product provides flexibility for lenders and investors, offering loan tenures starting from just nine months. Interest income commences the following day, presenting a viable option for those seeking regular income through the LenDenClub platform. With a minimum lending amount as low as Rs 250, users have a plethora of borrower choices.

The service is particularly beneficial for those requiring steady cash flow. LenDenClub boasts a robust user base exceeding 2 crores, and has disbursed loans over Rs 15,000 crore, processing transactions worth 23 crores between lenders and borrowers.

(With inputs from agencies.)