Is CRED Mint Safe?

[ShavirB]

Hi guys, have been thinking of investing some money in CRED Mint because of mouth - watering returns.. Need recommendations on Safety of money, reality of actual returns

 

[Abhishek s Jain]

Hey, buddy!
So, cred mint is a pear to pear lending credit system. Its also called (P2P Lending). Just like cred mint there are many P2P Lending platform are available some are 12% club etc.
1. Risk associated in P2P - P2P is working like, some people need money on credit and someone who has to invest that money for return and here cred work as a platform provider.
These P2P is not comes under Rbi regulatory. So risk are very High. If the person fails to pay the emi then , your money get stuck and sometimes you have to book a loss on such investment.
2. These investment option is for very High risk profile investors only.
3. They tell you the fixed return but , if they fail to recover loans from the customer them difficult to get amount back. Returns look attractive but comes with high risk associated with that.
4. My personal recommendation is not to invest in these kind of products available in the market. There are better products available with reasonable rate of interest and security of investment amount.
5. You can prefer, co- operate bond specially (SENIOR SECURE BOND).
FIXED DEPOSIT - now a day fixed deposit rate are all time high. Upto 9 % return. You can book FD. Which is secure by RBI upto 5lac rupees.
Gold bond - SGB sovereign gold bond give you 2.5% fixed return plus gold appreciation. And many more assets available with Better return.
Thanks!
Hope you like my answer! If yes then reply it by Got it!

 

[ShavirB]

CRED Mint is a financial product offered by CRED, a credit card management platform. It claims to offer high returns on investment, but it's important to approach such offerings with caution and conduct thorough research before investing.
Here are some factors to consider:

1. Risk Assessment: High returns often come with higher risks. Understand the underlying investments and risks associated with CRED Mint. High returns can also mean higher volatility and potential for loss.
2. Regulation: Check if the investment product is regulated by relevant financial authorities. Regulated products usually have better investor protections.
3. Transparency: Ensure that the investment details are clear and transparent. Understand where your money will be invested and how returns are generated.
4. Past Performance: While past performance is not indicative of future results, it can give you some idea about how the investment has performed historically.
5. Fees and Charges: Be aware of any fees, charges, or commissions associated with the investment. High fees can eat into your returns.

Remember, all investments carry some level of risk, and it's important to align your investments with your financial goals and risk tolerance. Before making any investment decisions, take the time to thoroughly understand the product, assess its risks, and consider seeking professional advice.

Seems like answer copy pasted from ChatGPT/ Bard. Would request you to not do this. It defeats the purpose of this community.

We are all here to share our personal experiences

 

[ShavirB]

Hey, buddy!
So, cred mint is a pear to pear lending credit system. Its also called (P2P Lending). Just like cred mint there are many P2P Lending platform are available some are 12% club etc.
1. Risk associated in P2P - P2P is working like, some people need money on credit and someone who has to invest that money for return and here cred work as a platform provider.
These P2P is not comes under Rbi regulatory. So risk are very High. If the person fails to pay the emi then , your money get stuck and sometimes you have to book a loss on such investment.
2. These investment option is for very High risk profile investors only.
3. They tell you the fixed return but , if they fail to recover loans from the customer them difficult to get amount back. Returns look attractive but comes with high risk associated with that.
4. My personal recommendation is not to invest in these kind of products available in the market. There are better products available with reasonable rate of interest and security of investment amount.
5. You can prefer, co- operate bond specially (SENIOR SECURE BOND).
FIXED DEPOSIT - now a day fixed deposit rate are all time high. Upto 9 % return. You can book FD. Which is secure by RBI upto 5lac rupees.
Gold bond - SGB sovereign gold bond give you 2.5% fixed return plus gold appreciation. And many more assets available with Better return.
Thanks!
Hope you like my answer! If yes then reply it by Got it!

Hi! Thanks for sharing this answer but this seems like it's true for all P2P products. My query is specific to CRED Mint.. How are they different from other P2P options in the market (like BharatPe 12 club)? Are they any better?

 

[KifaaytiBabu]

Answering from my personal experience..I have had personally invested in CRED mint . They give around 9% ROI which is credited to your account on daily basis at the end of day..so you can withdraw any time you require money back so no time bond investment ... I think it is better than other P2P available as they have access to people with high credit score ( I guess it was greater than 750 ) so they give loan to high credit worthy people so less risky..

Money withdrawal is also as smooth as investing in ...

 

[ShavirB]

Answering from my personal experience..I have had personally invested in CRED mint . They give around 9% ROI which is credited to your account on daily basis at the end of day..so you can withdraw any time you require money back so no time bond investment ... I think it is better than other P2P available as they have access to people with high credit score ( I guess it was greater than 750 ) so they give loan to high credit worthy people so less risky..

Money withdrawal is also as smooth as investing in ...

Awesome. Thank you for sharing your experience..
Since how many months have you been investing your money? And do you plan to keep investing as 9% doesn't seem so great considering FDs with small finance have also started giving 8-8.5% return

 

[KifaaytiBabu]

Awesome. Thank you for sharing your experience..
Since how many months have you been investing your money? And do you plan to keep investing as 9% doesn't seem so great considering FDs with small finance have also started giving 8-8.5% return

Thanks for replying ..

I have started investing in general around 2-3 years back...(doing only small portion of salary as of now ) . For Cred Mint I have had invested for a year then moved that money to ET Money Earn ( it is their P2P ) as they were giving 11 % to genius members ( paid membership).

 

[ShavirB]

Thanks for replying ..

I have started investing in general around 2-3 years back...(doing only small portion of salary as of now ) . For Cred Mint I have had invested for a year then moved that money to ET Money Earn ( it is their P2P ) as they were giving 11 % to genius members ( paid membership).

Any defaults or payments delays in your 1 year experience with CRED Mint? Also how is ET Money Earn working out for you?

 

[Akio]

Seems like answer copy pasted from ChatGPT/ Bard. Would request you to not do this. It defeats the purpose of this community.

We are all here to share our personal experiences

This portal is a clone of technofino. Why?

 

[Hema Kulkarni]

This portal is a clone of technofino. Why?

Was wondering the same. But I guess it shouldn't matter if they look somewhat similar (Don't all the Instagram Pages look same?)

What matters is the quality of conversations and unique insights

 

[KifaaytiBabu]

Any defaults or payments delays in your 1 year experience with CRED Mint? Also how is ET Money Earn working out for you?

Not that I have experienced ..but sometimes back heard in a community forum that they might default coz of some failed withdrawal but that was a technical glitch...

for ET money Earn ...so far exp is good.. I haven't made any withdrawal so can't comment on that ..for investing you get 1% extra if you are a paid member

 

[Utkarsh Sharma]

Invest a portion of your portfolio.

 

[anuragmukherjee28]

Not that I have experienced ..but sometimes back heard in a community forum that they might default coz of some failed withdrawal but that was a technical glitch...

for ET money Earn ...so far exp is good.. I haven't made any withdrawal so can't comment on that ..for investing you get 1% extra if you are a paid member

that 1% extra, is it unlimited 1% extra or there is a cap to it ?

 

[KifaaytiBabu]

that 1% extra, is it unlimited 1% extra or there is a cap to it ?

It is 1% extra to what normal users get for e.g. If for 10 months normal user gets 9% then paid get 10%.

Capping is at total investment ..I think you can invest max 10 lakhs cumulative through different platforms ...I am not sure if it's the govt policy for p2p but for both CRED and ET money invest via Liqui loans so together by both platform you can invest 10 lakhs...like for if you invested 3 lakhs via ET money then max you can invest via CRED is 7 lakhs...they get that 3 lakhs details since liqui loans is common platform between two.

You can also invest directly via Liqui loans ..previously they were offering 12% for some x amount for y months of lock in but now they are also giving around 9%.

 

[financial12345]

Please provide the lost Best P2P lending with their intrest rate