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Peer-to-peer (P2P) lending is the process of lending money to individuals through an electronic system that matches lenders directly with borrowers. On the p2Vest platform, you are only able to lend to individuals but not to businesses.
p2Vest is a Peer-to-Peer lending Application by p2Vest Technology Ltd that connects verified borrowers to verified lenders with the goal of receiving a loan and funding a loan respectively.
p2Vest enables borrowers to obtain loans directly from lenders, cutting out middlemen and reducing the risk of default.
Yay! We love to hear this. Our app is easily accessible on Google Store and App Store for download and you can get started in just a few minutes. I almost forgot to mention that it is absolutely FREE!!!
p2Vest operates primarily on your mobile phone, both Android and iOS.
p2Vest is not a registered money lender and does not lend money. p2Vest has created a peer-to-peer lending platform in which we connect screened borrowers to lenders who are looking for a better return compared to a savings account and fixed deposits.
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You can borrow through p2Vest if you:
Applying for a loan is the easiest thing to do on p2Vest! Once you are logged into the p2Vest App and have completed your loan profile, navigate to the Loan section, and fill in the necessary details for your loan request.
All you need to make a loan request on p2Vest are:
You can borrow from N5,000 to N2,000,000 for up to 12 months tenure. Your credit rating will determine the rate of interest you will pay on your p2Vest loan. The rate of interest at p2Vest is dynamic, based on market rate and your risk rating
Interest rates vary across borrowers based on their individual credit assessment derived from our proprietary and scientific p2Vest Credit Algorithm.
A lending decision is made from your credit score as a borrower, your risk profile, your financial details. Your credit score is based on the information that you provide to us and the history of your credit with other financial institutions.
Our loan platform provides instant decisions based on availability of lenders. When you apply for a loan, any viable lender will approve if you meet their requirements.
Your loan requirement is funded only by registered lenders. Your loan requirement is shared with lenders within the same tier as you. Interested lenders then proceed to fund the loan if they agree with the loan requirements. For you, p2Vest remains the point of contact for any requirement with respect to your loan.
Either your guarantor didn’t approve your loan or it got expired on the system before any lender could approve.
To pay-off a loan, please click the particular loan and click “pay off your loan” and make the necessary payments. But when the loan is due, the system automatically collects the amount due through your linked card.
The auto-debit service makes loan repayment seamless. The service uses a functional debit card that is attached to your running loan to make a repayment. Auto-debit helps you fast track your loan repayment without lifting a finger.
p2Vest currently supports only MasterCard and Visa card for auto-debit as long as there is sufficient funds in the account, you don’t need to worry.
Sure! You can pay as soon as you can afford to repay, it doesn’t matter if the loan is due yet.
Yes, you can pay in piece-meal to reduce your total outstanding loan.
No, you can only have one loan at a time as a borrower. You must pay off before taking another one
A loan request can be cancelled by the borrower if it has not been approved by a lender. After lenders approval, you can only pay off and this attracts interest as determined by the system.
We make best effort to help lenders recover funds through direct debit from borrower’s accounts. We report defaulters to Credit Bureau, We give lenders options to insure their funds with our insurance partners but claims are subject to insurance policies as detailed on Lenders agreement. We also connect lenders with our recovery agents to help.
Yes, you can borrow and lend on p2Vest using the same account. However, you will not be allowed to fund your own loan.
Yes, this is configurable. You can set the numbers of concurrent loans you want to have under the preferences section of your profile.
Limit to Lend is configurable by each lender but there is also a Global Limit of N2,000,000.00 per transaction that has been set on the platform.
Yes, you can. Go to settings >> banks and cards >> and then delete or add bank or cards. But account numbers must be tied to same BVN existing on the system.
Cards can be linked only if it’s from same bank as the account number already linked.
Requested amount or tenor does not fit within the amounts and tenor offered on the platform at this time. Consider reducing the amount or tenor.
Loan disbursement is based on availability of lenders. Either there are no available lenders at this time, or the lenders do not accept to lend to you based on your risk ratings. You may want to cancel and reapply for a lower amount.
N100 is deducted as a one of fee for linking a card. It will only be deducted again if you link a new card.
N1,000 is deducted as a one off fee for address verification. This is required for upgrading your account from tier 1 to tier 3. It is not mandatory to upgrade your tier but it allows you to borrow or lend higher amounts.
Address verification is for customers who want to upgrade their tiers to be able to borrow above 10,000 naira.
Your transaction pin is a combination of 4 digits unique to you, which would be requested to authorise/finalise transactions on the P2vest app. It does not have to be your ATM pin. Please, ensure they are numbers you can remember.
P2Vest is not a money transfer App. You are only allowed to withdraw funds to your own accounts linked to your BVN
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Your BVN is strictly for identity verification to help p2Vest kick against identity theft and protect your funds and transactions.
This is to validate your identity and be sure you truly want to guarantee the loan. Your BVN will not be used for any other purpose.
Your security is our topmost priority. We warehouse your card details with a PCI-DSS compliant payment processor, Paystack for your security.
Analyze how much you will like to lend and calculate the possible interest rate you will get in return with the P2Vest loan calculator.
You will get N0.00 monthly for 0 month
Total Breakdown of Payments over Loan Duration
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Analyze how much you will like to get as an instant loan and calculate your repayment plan conveniently with the P2Vest loan calculator.
You will repay N0.00 monthly for 0 month
Total Breakdown of Loan and Repayments over Loan Duration
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