Hi as a standard rule of thumb investing in P2P is risky. But the amount of risk varies from the platform to platform. As an example, if there is a platform where majority of borrowers are credit worth with very good scores, the risk will be low on this platform.
I have invested in this for more than a year now and the returns do arrive every day but I think I am getting less than 12% now. Earlier I used to get more but from 4-5 months I am getting around 9-10%. Also I have not invested in the 12% club app but in Bharatpe merchant app which owns 12% club too so it's basically the same. I wanted to invest more but for some reason it's not letting me do it, I checked someone else's bharatpe and they are able to invest in it but I can't. Also, earlier I could withdraw the money anytime instantly but now it takes upto 2 days.
Some platforms offer 'verified' corporate bonds that offer up to 10% or 11% p.a. They also have some risk but less as compared to P2P platforms. (not an investment advice)