Cred Mint Review - Random Dimes (2023)

Cred Mint Review - Random Dimes (1)

Is CredMint worth it? There has been a surge in P2P lenders in India in recent years and it is becoming a popular alternative to traditional financing methods. Peer to peer lending apps in India allow individual investors to borrow and borrow money directly from each other, bypassing the traditional banking system. It offers borrowers access to credit at lower interest rates and investors the opportunity to earn higher returns on their investments. Along with government support for digital platforms, India's P2P lending industry is expected to multiply in the coming years.

This review discusses CRED Mint P2P platform, its advantages, disadvantages, alternatives and much more.

What is CRED?

CRED is an app that allows customers to pay their credit card bills, with credit card holders able to pay their bills using Net Banking, UPI, or CRED points. CRED owns around 20% of credit card payments in India.

What is CREDMint?

CRED Mint is a peer-to-peer (P2P) lending platform from fintech company CRED that allows eligible CRED members to lend money to other peers and earn interest of up to 9% per year, which in comparison at a higher interest rate is bank FDs.

CRED Mint, developed inpartnership withLiquid firsta P2P Non-Banking Finance Company (NBFC), is registered with the Reserve Bank of India. This community-focused product allows CRED members with a credit score of 730+ to lend their idle money to other members and earn interest on it.

For borrowers, the platform behaves similarly to bank personal loans, but with lower interest rates. For example, a private bank charges around 10-21% interest, including processing fees, while a borrower from platforms like CRED Mint can expect a 2-3% lower interest rate.

For lenders, this acts similar to bank FDs with a higher interest rate. For example, a private bank offers an interest rate of around 5% per year, while the investor can expect a higher interest rate of up to 9% on platforms such as CRED Mint.

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Founder of the Cred Mint - Kunal Shah

Cred Mint Review - Random Dimes (2)

He is an Indian entrepreneur, venture capitalist and founder of CRED; The company ranks as India's second fastest growing unicorn start-up. In 2021, the startup reached a whopping $2 billion valuation with $200 million in funding.

Prior to CRED, Kunal Shah founded FreeCharge, an Indian digital payments company that was later acquired by Snapdeal in 2015. Kunal Shah is a well-known entrepreneur in the Indian startup ecosystem and has been named in many prestigious lists such as Forbes India's 30 under 30 and Economic Times 40 under 40.

CRED Mint-Alternativen

  1. Leihbox:Lendbox is a peer-to-peer lending platform that allows lenders and borrowers to meet in one common place where borrowers can avail instant loans at interest rates of 16-28%. The loan amount starts from Rs. 25,000 and goes up to Rs. 5,00,000 and the repayment term ranges from 6 months to 36 months. It gives investors the flexibility to withdraw funds at any time while offering 11%
  2. Grip-Invest: With Grip Invest you can invest in leases, inventory, commercial real estate or seed capital. It allows the investor to invest beyond traditional investments such as bank deposits (FDs), gold, etc.
  3. If P2P:India P2P is an online peer-to-peer lending platform that verifies borrowers and lenders and brings them into one common platform, enabling the lenders to earn higher returns compared to traditional savings and investments and the borrower too Access to credit at lower interest rates allows rates compared to other options. The platform focuses on female borrowers and allows investors to earn up to 18%.
  4. Für Jiraaf: Jiraaf is an alternative investment platform that offers a range of investment products including corporate bonds, invoice discounting, asset leasing and commercial paper. Investors can expect returns of 12-20%.

The full list of alternative investments along with their rating can be found below the list

Alternative attachment list

Products offered by CRED Mint

Earn up to 9% returns per year

CRED Mint offers a product that allows eligible CRED members to earn up to 9% interest annually by lending money to borrowers. The eligible users of CRED Mint can invest an amount between Rs. 1-10 lakhs and can check the value of their investment daily via the app. However, the product is available to a limited number of users with a credit score above 730. The investment can offer a return of up to 9%, but the return is not guaranteed, unlike bank FDs.

CRED Mint allocates each investment to 200+ borrowers with a credit rating of 730+. There is no lock-up period for the investment. Investors can withdraw their money at any time after investing without any penalties.

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How does CREDMint work?

Cred Mint Review - Random Dimes (3)

Current CRED users are required to register on the CRED Mint website and upon successful registration investors can invest if they are eligible.

The investment made through CRED Mint is loaned through CRED Cash. And to reduce the probability of default, the platform diversifies the investor's money among more than 200 borrowers.

Features of CRED Mint

  1. Zinsrate:A lender can earn up to 9% interest, which is higher than bank loans. However, you should note that the return is not guaranteed and depends on the investment.
  2. Where the money is lent:The amount you invest is part of the CRED Cash program for the CRED App high credit customers.
  3. Investment limit:The minimum investment required is Rs. 1 lakh and a person can invest a maximum of Rs. 10 lakhs.
  4. Cash withdrawal:You can withdraw the amount from the app at any time free of charge. The value of the investment is displayed in the app.
  5. Taxation:The income from the investment is taxed according to the investor's income tax plate.

Benefits of CRED Mint

  1. high interest rate:The platform connects borrowers directly with lenders, saving the intermediaries and associated costs. CRED Mint offers returns of up to 9% annually, which is higher than bank deposits.
  2. Diversification:The amount invested in CRED Mint is diversified across 200+ borrowers. Additionally, the amount is only lent to borrowers with credit scores above 730, allowing lenders to invest smaller amounts with many borrowers rather than relying on a few significant investments.
  3. Liquidity:The most attractive feature of CRED Mint is that you can withdraw your funds at any time and without any fees.
  4. transparency: CRED Mint provides all information about the borrower, such as B. its creditworthiness, purpose of the loan, and repayment history, allowing lenders to make informed decisions based on their risk tolerance.
  5. Access to credit:CRED Mint offers a new source of credit for borrowers with limited access to traditional bank loans and can benefit from lower interest rates than banks and other financial institutions.
  6. Simple process:CRED Mint offers a hassle-free loan application process with minimal documentation and a quick turnaround time. The process can be completed online and the loan amount will be disbursed in a matter of days, while traditional bank loans take weeks.

Cons of CRED Mint

  1. The interest rate is not guaranteed:The investment on the platform does not correspond to the bank fixed deposit, which offers a fixed interest rate. For P2P lending, it may vary by facility.
  2. High minimum investment value:The minimum investment a person needs to make is Rs. 1 lakh. India is a price sensitive market and investing a minimum of Rs is a daunting task for individuals. 1 lakh in P2P lending platforms.
  3. No tax benefits: Investing in P2P brings no tax efficiency benefits to investors, and a product with no guaranteed returns with no tax benefits does not attract many investors.
  4. Risk:The risk is higher on the P2P platforms as P2P lending is not insured and lenders have no recourse in case of default.
  5. Less Awareness:The P2P industry is relatively new and many people are unaware of this option, making it less popular.

Factors to consider before investing through CRED Mint

Before investing in P2P lending, there are a few factors to consider to ensure you make a wise investment decision. Here are some key factors to consider:

  1. Risks:Before investing in P2P lending, it is important to understand the risk involved and assess the potential impact of default on your investment portfolio. However, CRED Mint diversifies investors' money across more than 200 borrowers, thereby minimizing the risk of default.
  2. Choosing the right platform:There are many P2P lending platforms that offer unique features and lending offers. Therefore, it is imperative to research and compare different platforms before finding the one that suits your risk appetite.
  3. Borrower selection:It is important to evaluate information about the borrower before deciding to invest. CRED Mint provides all data of the borrower, such as B. his credit history, purpose of borrowing, income and other relevant information, making the process transparent.
  4. Liquidity and Fees on Withdrawal:The platform you choose must offer good liquidity and you should check if there are any fees involved when withdrawing. With CRED you can withdraw your investment amount at any time without any fees.
  5. Loan Conditions:For more transparency, you need to understand the terms of the loan you're investing in, including interest rates, fees, and repayment schedules.

How is CRED Mint different from other P2P platforms?

In general, P2P platforms connect borrowers and lenders in a common place where the borrowers request the loan in the app and the lender provides the fund. However, CRED Mint works differently as it focuses more on the credit side of the transaction, which the company calls an investment. People on CRED Mint can invest an amount ranging from Rs. 1-10 lakhs and can check the value of their investment daily via the app.

Once the loan amount has been recovered from the borrowers, the funds are added to the pool and distributed among the lenders. CRED Mint holds invested money in escrow with a bank-appointed trustee before lending it to borrowers based on the investor's chosen auto-investment criteria. At the same time, investors can access the information about their portfolio of borrowers and other relevant details by making a real-time request to CRED Mint.

My review of CRED Mint

As mentioned earlier, CRED Mint enables P2P lending to people with good credit. I applied for the same and was selected and I spoke to one of the CRED Mint staff about the platform. Here my observations:


The platform works similar to the BharatPe 12% Club. CRED members with a good credit score (my score was 800+) are a loyal audience for the platform to offer P2P lending.

The invested amount is spread over more than 200 borrowers, which reduces the risk of default. Additionally, interest is credited daily, making the platform a quick place to invest, and I withdrew the funds with no fees. So it was a smooth experience for me.

However, I find that the returns are too low compared to other alternative investment platforms, while the risk is higher than bank FDs with only marginally higher returns.

I invested directly with Liquiloans, which gives me detailed information about my investments and risks.


Cred Mint is a good platform for people who are just starting out in alternative investing. More sophisticated investors have better options that can offer them higher returns

Finally, peer-to-peer (P2P) lending platforms have emerged as a viable alternative to traditional banking institutions for both borrowers and investors. However, it is important that both borrowers and investors carefully weigh the risks and benefits before engaging in any P2P investment. As the P2P lending industry continues to grow and evolve, it will be interesting to see how it shapes the future of lending and financial services.

Frequently Asked Questions (FAQs)

  • What is CREDMint?

CRED Mint is a fintech platform offered by CRED that enables peer-to-peer (P2P) lending. It allows eligible CRED members to lend funds to other peers and earn interest of up to 9% per year, more than the fixed deposits offered by the banks.

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  • Is P2P lending legal in India?

Yes, P2P lending is legal and the platforms are regulated by the Reserve Bank of India (RBI) under the Non-Banking Financial Companies- Peer to Peer Lending Platforms (Reserve Bank) Directions, 2017.

  • How does CREDMint work?

CRED Mint acts as an intermediary between borrowers and lenders. The borrower applies for loans on the platform and once approved, the loan application is listed on the forum. Investors can choose to invest in the loan by lending part of the loan amount. Once the loan is fully funded, the borrower receives the loan amount and repays the loan with interest over a predetermined period of time.

  • Who can use P2P lending platforms?

Individual investors, sole proprietorships and partnerships can borrow money through P2P lending platforms.

  • What are the risks associated with P2P lending in India?

P2P lending involves risks for both borrowers and lenders. While borrowers risk defaulting on loans and affecting their creditworthiness, investors can lose money if the borrower defaults.

  • What are the advantages of P2P lending for borrowers?

P2P lending offers borrowers an alternative source of financing that is more accessible and affordable than traditional lending options. Borrowers can apply for the loan online, get quick approval, and get a better interest rate.

  • What factors should I consider before investing in P2P lending?

Before investing in P2P lending, you should consider your risk appetite, choose the right platform, and check borrowers' credit history and forum fees.


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