Probably a fair interest is the average between the lending interest rate charged by the bank, and the saving interest rate given by the bank
If you need money, you can turn to a bank for a loan. Some requires some collateral.
Other option is to use peer lending platform; oSplit can be used as lending platform between friends. This is a good option you have the money and want to make the money works for you than just sitting in the bank, or just help out a friend in need.
This platform match you and your friends where both can benefit with lower interest fee (for the organizer), higher interest fee (for the participants), low platform fee.
Please understand that there is no credit check what so ever, it is your friend, you should balance the risk and reward
This template assumes there is 1 type of lender
oSplit will ensure that the minimum count is reached before assigning reservations, but will stop when the Deal reached its limit
Other option is to use peer lending platform; oSplit can be used as lending platform between friends. This is a good option you have the money and want to make the money works for you than just sitting in the bank, or just help out a friend in need.
This platform match you and your friends where both can benefit with lower interest fee (for the organizer), higher interest fee (for the participants), low platform fee.
Please understand that there is no credit check what so ever, it is your friend, you should balance the risk and reward
This template assumes there is 1 type of lender
oSplit will ensure that the minimum count is reached before assigning reservations, but will stop when the Deal reached its limit
info
Borrow Money |
| date_range Long Term savings Crowd Funding |
Purpose:
I need money to ____
Interest:
0.5% per month
Repayment Plan:
At the beginning of the month (5th at the most), I will repay at least ____ to each lender, that already include 0.5% interest of remaining balance, which means if the debt is pay off faster, there is no interest given
Collateral
Worse come to worse, I will sell of my _____ and pay off the remaining debt
tune
Settings
| Trigger | : pin Count help_outline |
| Participant | : people Friends and their Friends help_outline |
| Approval Method | : people Approve All help_outline |
| Currency | : USD |
| City | : map Seattle, Washington, United States |
| Cancellation | : Not allowed in 4 days before end help_outline |
| Time to End | : in 14 days after created |
| Time to Distribute | : in 2 days after ended |
inventory_2
Items
| Min Requirement for Price help_outline | 10 | Max Available: 20 | |||
| Name | Description | Price | Assigned | Item Limit | |
|---|---|---|---|---|---|
| Lender | lender | 100.00 | 0 | 20 | |