Do you want to earn some extra money daily, then here is an easy way to make extra income daily.
Mobikwik Xtra: If you want to earn extra money daily, Then “Mobikwik Xtra” is an easy way for you. This Mobikwik Xtra gives you an opportunity to earn upto 12% interest daily. So, “Mobikwik Xtra” is a good option to earn some extra income daily.
Full details about this “Mobikwik Xtra” are given below.
Mobikwik Xtra Details
You already know about Mobikwik Apps. where recharge, bill payments, money transfer can be done. So, one of the features of this Mobikwik Apps is “Mobikwik Extra”. This “Xtra” gives upto 12% interest per annum on your savings. If you want you can invest some amount of your savings here. Where you can earn daily, monthly and yearly as upto 12% interest per year.
Mobikwik Xtra Founders
Founded in 2009 by Bipin Preet Singh and Upasana Taku, MobiKwik has 140 million registered users (as of 31 March 2023).
Mobikwik Xtra Manages Risk
Lendbox performs a set of security check, which is provided to its partner Mobikwik Xtra’s customers:
1. History of the Borrowers: Lendbox analyses essential factors, including credit history, income, employment, and other crucial financial aspects, to predict the ability of the borrower to repay the loan.
2. Diversification: You, as an investor, can diversify your investments across multiple loans and borrowers, mitigating the risk of default.
3. Risk-Based Pricing: The platform follows a risk-based pricing approach where borrowers with high credit scores are charged a higher interest rate, helping compensate the lenders for the higher risk and incentivizing borrowers to maintain healthy credit behavior.
4. Repayment Behaviour: Through the support of Lendbox, continuously monitors the performance of the loan, identifies any potential risk, tracks the borrowers’ repayment behavior, and takes any corrective actions if required.
5. The Recovery procedure: Lendbox protects lenders’ interests by following a recovery procedure to recover the outstanding loan amount, and they may engage collection agencies to recover the amount.
6. Maintains Reserve Funds: Lendbox maintains reserve funds to recover any losses that may arise due to delays in payments and have an insurance policy to protect the lenders’ investment.
Mobikwik Xtra Review
Mobikwik Xtra is a P2P (peer-to-peer) platform, Which gives upto 12% interest per year. Where daily, monthly, yearly money can be withdraw. It is safe to invest through an RBI-licensed peer-to-peer NBFC. So, far no such complaint has come here.
Mobikwik Xtra Safe or Not
While there is no guarantee of upto 12% per annum, Lendbox risk analysis has proven that this number is probable as the risk of default from creditworthy borrowers of Lendbox is very low.
Here, your money is invested through an RBI-licensed peer-to-peer NBFC so it is absolutely safe. Then you can start investing here, and grow yourself.
How to Invest with Mobikwik Xtra
Step 1: Go to www.mobikwik.com website or Download “Google Playstore”.
Step 2: Setup your MobiKwik UPI & complete your KYC.
Frequently Asked Questions
1. What is MobiKwik Xtra?
Xtra is an investment option that offers you the opportunity to earn upto 12% p.a. by lending directly to creditworthy borrowers. This is done via an RBI-regulated peer to peer investing platform, Lendbox (Transactree Technologies Pvt Ltd).
2. How will my money be deployed between different borrowers?
Hundreds of data points of income and expense behavior are assessed before selecting borrowers to whom money will be lent. Investors’ funds will be split into chunks as small as Rs. 100 and distributed between lakhs of borrowers. This mitigates risk and diversifies investments.
3. Who can invest in MobiKwik Xtra? Can NRIs invest?
Any Indian above 18 years (resident or non-resident) or company with an active PAN Card and Indian bank account can invest with Lendbox. NRIs can also invest in Xtra via their NRO bank account.
4. Is there a fee for investing in MobiKwik Xtra?
No, Xtra does not charge any investment fee or commission for deposits.
5. How safe is the invested money?
Your money is routed directly through the escrow (3rd party) bank account which is managed by an independent trustee and money can be used only to lend to the borrowers.
6. Are the 12% p.a. returns assured?
While there is no guarantee of 12% per annum, Lendbox risk analysis has proven that this number is probable as the risk of default from creditworthy borrowers of Lendbox is very low. We closely work with our partner in assessing their risk models periodically and ensure low risk for investors.
7. What are the investment options available in Xtra?
Investment in Xtra can be made via Flexi or Plus option.
- Flexi investment offers interest upto 12% p.a. and no lock-in. User can withdraw anytime without any withdrawal fee.
- Plus is a fixed tenure investment option offering interest upto 12.99% p.a. The lock-in tenures available for the investments are 3,6,9,and 12 months presently. Premature withdrawal may lead to loss of interest in this mode of investment.
8. When does my investment start generating returns?
After the payment is successful, it takes upto 48 hours for the interest to reflect in your portfolio.
• Disclaimer: Do not plan to invest just by looking at our article. If you want to invest, do a good analysis.
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