What’s in it for Student?

We view consumer finance delivered through Peerfin as a significant new market opportunity. We aim to use technology and a more efficient funding process to lower costs so we may provide Borrower members with rates that are generally lower, on average, than the prices they obtain from unsecured credit provided through credit cards or traditional banks and offer interest rates to investors that they find attractive. Our customer acquisition process, registration, underwriting, processing, and payment systems are highly automated and electronic.

We are listing a few advantages of Peerfin over the existing process.

Cross-border transactions

If a student from India applied for a loan in June 2018 for $85,000 for his masters, he/she would have to loan INR 57,80,000 (Fifty-Seven Lakh Eight Hundred Indian Rupees) form the local bank.

Historically, the Indian Rupee reached an all-time high of 74.33 in October of 2018. $85,000 in October would be 63,18,050 (Sixty Three Lakh Eighteen Thousand Fifty Indian Rupees).

That means a student who secured loan in June will have to pay the difference of 5,38,050 (Five Lakh Thirty-Eight Thousand Fifty Indian Rupees), i.e., $7328 + the interest on the disbursed amount in INR which will change according to the exchange rates.

Peerfin helps students to avoid the FX risks involved when availing loans. Our loans are in GBP, USD, and EUR. Since the loan disbursements are processed in the university accepted currency, the student is saving at least $3000 — $10,000 of FX risk.

Ease of Process

International students sourcing a loan from their home country may face a cumbersome application and approval process that can extend for up to two months. Peerfin process is easy and fast. A student can apply for the loan within a few minutes, and a Student can expect the approval in less than five days.

Peerfin will use blockchain technology to cut the processing time. Enabling blockchain transactions will not just reduce the time of loan disbursement but assure accuracy and authenticity of the transaction.

Interest Rates

Interest rates in developed economies tend to be significantly lower than in many developing nations. A loan in India can come with a rate of 12 percent. Almost double the cost of finance provided by a US-based Lender.

We are intended to provide loans that are comparatively low interest than the local banks.

Quality Education

Peerfin is aiming to help increase the number of young talents from emerging markets able to access educational opportunities and attend high-quality universities. We are creating a socio-economic impact in the industry by supporting future leaders, entrepreneurs, and CEOs.

Immutable Profile for future use

Blockchain enabled application process helps Students to build an immutable profile for the future use. Peerfin platform will be open for freelance and recruitment. Students in the future can apply for freelance or job through the platform using their profile.

Student Community

The Peerfin student community is one of the significant advantages of the platform. The Borrower students can help the future Borrowers students raise awareness of our product and give honest feedback.

Our community can also help students with language, culture and many other areas where a student might need support during his relocation. It allows us to support the international student community while reaching more people who could benefit from our service.

Join the revolution

Telegram — @peerfin

Twitter — https://twitter.com/peerfinio/