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AVINASH JADHAV

Helping hands • 23d

Brief description of the Product : Normally when a customer takes a loan, not every time but sometimes they get the emi bounced due to some genuine reason. Our idea of this product is to solve that issue. In this we will make sure that the EMI is paid without bouncing and for that we will pay it on the behalf of the customer. 💡This idea will solve the issue the customer faces in the cibil due to the bounces in the emi. Detailed description of the Product : In this product, when the customer opt for a loan from the NBFCs which has a tie up with us, the customer can opt for our product's membership. In this membership following benefits will be given to customers: EMI will be paid by our company. Bouncing will not be there. No bad impact on cibil will be there. As we are taking care of the smooth repayment of EMI then there will be no any bounces and therefore no bounce charges would be payable by the customer. Regards, Avinash Jadhav Mob :- 8793949425

5 replies10 likes

Replies (5)

Nirav Patel

Hey I am on Medial • 22d

a person who doesn't have money to repay the 1st loan, will now have to worry about another loan with insane interests. & it'll affect the CIBIL score. chances of repayments of 2nd loan with higher interests are lower than 1st too. how do you solve these problems?

1 replies2 likes

Anonymous 1

Hey I am on Medial • 23d

This sounds like a payday loan with extra steps. You're essentially creating a new debt to pay existing debt. What happens when customers can't pay you back? You'll either charge insane interest rates or go bankrupt. The fundamental problem - people not having money, remains unsolved.

1 replies2 likes

Anonymous 2

Hey I am on Medial • 23d

Interesting concept but the risk modeling here is backwards. You're taking on the exact same default risk as traditional lenders but with an extra layer of complexity. How do you price this service without making it more expensive than just taking a regular loan with slightly higher interest?

0 replies1 like

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