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Peer to peer (P2P) lending companies claim to provide loans at lower rates compared to banks. We ask the experts what impact this can have on the overall interest rate scenario in the country. Bhavin Patel, founder and CEO, LenDenClub The interest rate theory works on supply of money in the system and the risk associated with an investment. When the supply goes up, it brings in downward pressure on the banks to bring interest rates down. As it is now clear that RBI is regulating the P2P segment, many more lenders will be willing to be a part of P2P lending. This will bring in liquidity to P2P platforms, resulting in a reduction in the interest rate offered to borrowers. P2P loans are executed by arranging an electronic meeting of lenders and borrowers on the platform. If lenders have excess liquidity and start pushing higher amounts, they may ask for lesser yield. The impact could be a reduction of at least 1.5% over the next year on P2P platforms themselves. The other important aspect in determining interest rates is the risk associated with P2P loans. As these loans were not reported to any of the credit bureaus earlier, the chances of defaults were higher compared to similar retail loans. However, now, after the RBI regulations, the bureau reporting process will be started. This will make borrowers more concerned about timely payment of loans, bringing down the probability of default. This will reduce repayment risk, resulting in interest rates going down. Both of the above factors will act in favor of borrowers. However, it will take some time before we see the real impact of interest rate reduction.

It is advisable to take a personal loan to clear all your credit card dues and consolidate the debt at one point. It simply means lesser monthly obligation in the form of EMIs and also more savings. These loans can be obtained from Banks, NBFC's and also through the new kid on block, Peer-To-Peer platforms. Peer to Peer lending platforms are a relatively new medium for obtaining short term loans online. These are generally hassle free processing points and it is not necessary that personal loans will be given only to the best of the customers, subprime customers are also given loans. However, the obvious clause which gets attached is higher rate of interest and more verifications. Leading Peer-To-Peer lending platforms in India like LenDenClub provide quick and hassle-free personal loans which are approved on the same day and disbursed within 3 days.

MedCab: Best 24/7 Ambulance Service in Telibagh, Lucknow For the best ambulance service in Telibagh, Lucknow, call MedCab now. MedCab is the most-called emergency ambulance number all over Lucknow. This is because MedCab offers 24/7 availability of ambulance services in Lucknow. With urgent responses and fast ambulances, MedCab is the best ambulance service in Telibagh. Telibagh is a residential area in Lucknow. It is located in the centre of Lucknow. The wide range of amenities makes it a good residential area. There are societies such as Sharda Enclave as well as independent housing options in Telibagh, Lucknow. APS Academy, National Public High School, and St. Francis Mission School are good educational institutes within Telibagh. Telibagh also has a number of sub-localities, such as Launga Khera Kharika, Gandhi Nagar and Sainik Nagar. The Alambagh Metro Station is the nearest metro in the area. Being an important and vast residential area, various modes of transportation can be easily found for the convenience of residents. One of the interesting attractions of Telibagh is the Ganga Aquarium. It is one of the largest public aquariums in Lucknow and is a good attraction for children. The tickets at the Ganga Aquarium are priced minimally at 30 INR. It is operated by the National Bureau of Fish Genetic Resources and is a non-profit initiative. Besides the Ganga Aquarium, there are also many gardens in Telibagh much like the rest of Lucknow. Some of these include the Amreen Garden and the Amar Saheed Park. For the purpose of entertainment, the Gardens Galleria Mall is also situated in Telibagh beside the Ganga Aquarium. The wide range of amenities makes Telibagh a good residential area. Despite being a prominent area, it can be challenging to find urgent ambulance help in Telibagh.