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Shivam Malhotra

Founder of stockkhat... • 1y

Hey everyone! I'm developing a fintech app with a unique concept: offering 0% interest loans to users. While this sounds great for borrowers, I'm seeking your input on the biggest challenge - ensuring loan repayment. Here's the idea in a nutshell: Users can apply for loans through the app. The app will leverage technology to assess creditworthiness and manage risk. If approved, users will receive the loan amount with NO interest charged. The Challenge: Guaranteeing Repayment This is where I need your brilliant minds! How can I, as the app developer, encourage responsible borrowing and ensure users repay their loans on time? What are your thoughts? How can the app design discourage misuse and promote responsible borrowing? I'm eager to hear your valuable insights! Let's build a fintech app that empowers users and fosters financial well-being.

17 Replies

Replies (17)

Kavan Prajapati IITB

B. Tech, IIT Bombay • 1y

For offering loans, you yourself should have a huge amount of money, which I believe you will borrow from let's say banks, and they will need intrest from you, so how will you repay those high intrests to your bank if you don't get interest bcoz of 0% policy?

1 Reply

Havish Gupta

Figuring Out • 1y

Offering loan for 0%. How will you earn. Tell that first

1 Reply

Yagnesh Gadhvi

Nothing • 1y

First of all u should bifurcate it whether it is merchant loan or personal loan and the biggest challenge infornt of you is 100percent loan repayment which is still in India impossible as even BharaPE had repayment around 92 to 96 inspite of being an unicorn....and even if it is possible what about your operational costs as u said it is fintech ... The word tech carries lot of costs with itself... Hope u get my point

1 Reply

Sohan Krishna

I'm here to create s... • 1y

Yeah it's great idea. But if you offer zero interest how will you gain revenue. Also lending tech is headache sector. And your GTM, team and design should perfect before. So first you start working on GTM and meet some fintech experts about your idea then make it perfect.

1 Reply

Samiksha Singh

Marketer who loves s... • 1y

Idk much about this but here's what I think: Let's say you give a loan to someone signin the agreement for 6 months that you will not ask them to pay back in this period but after 6 every month an amount will be deducted from their accounts directly. Make a solid agreement that if the payment is not done on time and interest of 10% will be charged. Idk if it was really logical but you can work around this

1 Reply

Sachin Sk

Business analyst wor... • 1y

There are many ways actually one of them is : After purchasing or spending much amount like 10Lakhs, you will get this offer. If they can spend so much they will be able to repay?.

1 Reply

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