Mikesh bhai naya ghar naye kapde nayi job naya furniture! Badhiya hai

This is what mikesh’s story is. Mikesh had just completed his engineering in April and was moving to Hyderabad to join one of India’s biggest mnc’s.  All who are working know what happens on the first day of joining. Couple of signatures here and there and a bank account opening formalities. Same happened with mikesh. Few days later he started getting calls at his desk requesting him to apply for a credit card. Mikesh had planned to stay in a rented unfurnished apartment.

I had planned to take up an unfurnished flat with couple of new guys who had joined in. Rented flats are always economical though there are initial investments but then eventually you have a choice as to what you want to purchase and what not and then you can sell it once you leave the city. I had the same plans. Our company had given us a stay for a month so all of us had a good time to explore the city and settle down. I had planned to register for a credit card once I started receiving calls as I did not want to ask for money from my parents again for the initial setup. I felt credit card would be good choice to make as I can purchase basic things such as utensils, geyser, furniture, bed, and chullah online through a credit card and pay later once I get my first salary. In fact all of us had planned that way that we would purchase things through credit cards. But the funniest thing that happened with me was that my credit card application was rejected not once but thrice. My colleagues used to laugh at me. Every day we used to get irritating calls SIR CREDIT CARD LE LO! And every day I used to say my credit card application got rejected. I tried figuring out what could have been the reason. But to my surprise I could not figure out anything.  This was a serious issue for me as I had to make a purchase soon. We had decided on the flat and it was high time that I started buying. Meanwhile I also figured out that an activa would be indispensable for me. With my pocket not allowing so much at such an early stage of my career I had almost planned to ask my finance minister (my father) to help me one more time and my credit card limit would never allow me purchase as activa. I was googling about personal loans when I read about Peer to Peer lending one night. To satisfy my curiosity I digged in a bit more in when I ended up clicking a couple of websites that had enough information on P2P lending. I realized that there were companies who could sponsor your funds. Not exactly sponsor but yes these platforms could help you borrow from people who were willing to lend at nominal rates. Loans that were lower in interest rates than personal loans and required less documentation. For me I would term these as efficient loans. I researched more on P2P lending and learnt that this concept was widely used outside India and was slowly growing here in India. I approached Loanmeet as this was the first company that I could find on google. These guys were very cordial. I could not imagine they helped me borrow a loan with 3 days. I could purchase an activa, fridge, sofa and all the basic amenities and pay my EMI’s to Loanmeet for the next few months at a nominal rate. Now I know if ever I need money Loanmeet is the first thing that I will visit. In fact once I am financially stable few years down the line I would myself start lending to people through such platforms. Someone helped me the other day. There could be someone like me who would need funds someday somewhere. I would definitely be there as it is a good investment after all with some healthy returns.

Thank You loanmeet! Cheers!