12 % club App Review

The 12% Club app, powered by BharatPe and in cooperation with RBI-approved NBFCs, provides a comprehensive solution for investing and borrowing requirements.

As a member, you can invest money at a set rate of 12% per year and earn daily interest or borrow funds at the same rate with flexible repayment terms. The platform works with trusted NBFC partners, LendenClub and Liquiloans, to ensure a secure and regulated environment.

Features of  12% Club app

• For investors
  • Users can invest money at a fixed annual interest rate of 12% and get daily interest on their investments.
  • Investors can begin with as little as Rs.10,000, with a maximum of Rs.100,000. 
  • Interest is calculated on a daily basis, allowing users to monitor how their profits accumulate over time. 
  • Investors may request withdrawals at any time without incurring withdrawal fees. 
  • app works with RBI-approved NBFCs such as LendenClub and Liquiloans to provide users with loan authorization letters and deposit agreements for investments.
• For borrowers
  • Users can borrow money at a set interest rate of 12% for a minimum and maximum repayment period of three months.
  • Borrowers pay no processing costs, making this a cost-effective borrowing choice.
  • Borrowers can repay the loan amount at any time throughout the designated three-month period without incurring prepayment charges.
  • The software speeds the loan approval procedure, making it easier for applicants to get loans.
• General Features 
  • Users can rapidly register on the app by entering their mobile number, completing KYC, and associating their bank account and PAN. 
  • The software provides a user-friendly experience, with clear navigation and important information presented prominently. 
  • The app only collects approximate location data for creditworthiness and risk assessment, ensuring user privacy. 
  • Users can use the information provided to contact us with questions, feedback, or recommendations or by emailing support@twelve.club. 
  • The app is frequently updated, with the most recent version being 1.3.3 as of January 12, 2024, ensuring continual improvement and security advancements.

Why 12% Club App

Competitive Interest Rates

The app offers a fixed annual interest rate of 12% for both investors and borrowers, which is competitive when compared to many other financial apps. 

Flexibility in Investment and Borrowing 

Users can invest or borrow money ranging from Rs.10,000 to Rs.100,000 with a fixed tenure of three months. This flexibility meets a wide range of financial needs. 

Daily Interest Accrual

 Daily interest accrual benefits investors by allowing for more consistent and timely rewards on their investments. The daily compounding aspect distinguishes it from standard investing options.

Transparent partnership with RBI-approved NBFCs

The app works with well-known NBFCs such as LendenClub and Liquiloans, which the Reserve Bank of India approves. This relationship ensures regulatory compliance and boosts the platform’s credibility.

Zero Processing Fees for Borrowers

Borrowers can access funds with no processing fees by making it a more gainful borrowing option than other loans.

Geographical Coverage 

Although the app is not available countrywide, it has its services in some places in India Which include Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Orissa, Pondicherry, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, and West Bengal.

User-Friendly Interface

The app’s user-friendly interface makes it simple for users to navigate, register, and engage in investing or borrowing operations. Clear displays of sanction letters and deposit agreements help promote openness. 
 
Trusted Developer:

BharatPe, a well-known financial technology company, created the 12% Club app. Users may feel more confident while utilizing an app created by a respected developer.

 Pros of 12% club App
 
The app initially offered a competitive 12% interest rate, which attracted customers seeking bigger returns on their investments. 
Users have said that withdrawing money from the app is simple, and they have had no problems doing so. 
support team responds quickly and encourages users to contact them via email if they require assistance. 
The app credits interest on a daily basis, giving consumers a more consistent and predictable earning schedule. 
the ability to withdraw both principle and interest without a lock-in time.

Cons of 12% club App
 
Several users have reported a drop in the maximum interest rate from 12% to 9.5%, disappointing investors. 
Technical concerns, including login troubles, withdrawal functionality restrictions, and faults involving the app’s banking partner. 

Some customers are concerned about the app’s transparency, citing issues such as the loss of functionality, such as daily interest credit checks and interest rate adjustments without prior notification.
Users express concern about the app’s apparent lack of transparency, the sudden fall in interest rates, and a shift in the platform’s perceived trustworthiness. 
Users report receiving messages advertising interest rates of 9.5% + 2.5%, yet real returns are said to be lower, causing confusion and irritation. 
Some users find it difficult to invest during times when the app shows that it is overburdened with investments or that the API fails. 

Investment in 12% Club app.

The investment begins earning interest as soon as the funds are deployed with registered borrowers on the P2P NBFC partner platform. Deployment typically takes up to 4 days. The return is based on deployment with registered borrowers through the P2P NBFC Partner. The return comes in the form of interest paid by the borrowers to whom the funds are lent through P2P NBFC Partners.

Withdraw in 12% club app.

There are no withdrawal charges in 12% app. You can withdraw the amount in partial or full before maturity. The amount you select will be credited to your bank account according to the terms and conditions of the 12% Club. As per RBI P2P regulations, the maximum tenure cannot exceed 36 months. Subject to the transactions getting fulfilled on the secondary market of the platform, withdrawal requests are generally processed within 1 business day from the date of request of withdrawal. However, in rare cases, there might be a delay at any of the intermediary bank’s end. If you are facing any issues beyond the time above, please feel free to chat with us or contact our customer support team.

Risks involved in 12% club app.

• Liquidity Risk- Liquidity risk refers to the potential difficulty of meeting its short-term financial obligations or funding requirements. This risk arises when the institution may not have sufficient liquid assets or cash readily available to honor withdrawal requests, pay off maturing debt, or cover unexpected liabilities.
• Default Risk- Default risk, also known as credit risk, is the risk that a borrower or issuer will fail to meet their debt obligations, resulting in a default on a loan or bond. For a financial institution engaged in lending, default risk is a significant consideration

Eligibility for registration in the 12% Club

 1. Indian citizen.
 2. Age over 21 years.

 To apply for a loan:

1. Navigate to the Loan option and select Apply Now.
2. Now, you must link your bank account to which you intend to withdraw the loan funds.
3. After that, you must complete KYC with your Aadhar Card.
4. After that, post a selfie of yourself.
5. Pay care to the following: Borrow at 12%.
   You can obtain a 10 Lakh loan at any moment.
   Loans can be deposited at any time with no prepayment charges.
   Zero processing fees.
   Annual percentage rate: 12%. You have to pay interest; it is fixed.

 The 12% Club Application includes a Refer & Earn function that allows you to earn money. Simply make an account, select Refer & Earn, copy your link, and share it with friends and family. You will receive 10% of their total investment if they download the 12% Club Application using your link. If you share it with someone and they download and invest $10,000, you will receive 10% of that amount, or $1,000.

Conclusion

The 12% Club app, powered by BharatPe and developed in partnership with RBI-approved NBFCs, provides a holistic solution for both investors and borrowers. With a competitive fixed interest rate of 12%, daily interest accrual, and transparent relationships with reputable NBFCs, the app originally drew users looking for larger returns and more affordable borrowing options. However, current obstacles, including as lower interest rates, technological glitches, and worries about transparency, have resulted in consumer displeasure. While the app has a user-friendly UI, regular updates, and a Refer & Earn feature, fixing the stated concerns is critical to reestablishing confidence and preserving the app’s credibility in the financial industry.