{"id":142,"date":"2020-11-23T10:03:43","date_gmt":"2020-11-23T08:03:43","guid":{"rendered":"https:\/\/swaper.com\/blog\/?p=142"},"modified":"2022-03-15T10:28:32","modified_gmt":"2022-03-15T08:28:32","slug":"p2p-loan-app","status":"publish","type":"post","link":"https:\/\/swaper.com\/blog\/en\/p2p-loan-app\/","title":{"rendered":"Why Use a P2P Loan App? Here\u2019s 3 Smart Reasons."},"content":{"rendered":"

First things first:<\/p>\n

Swaper is one of the few P2P investing platforms that allow you to invest with an app<\/strong>!<\/p>\n

As a peer to peer investing platform, we connect investors who want to make higher returns<\/a> on their investments with people who need loans at more favourable rates. We offer both a website dashboard as well as an app, making it easy for investors to invest anywhere and at any time.<\/p>\n

Why Swaper?<\/h2>\n

Swaper is a P2P investing platform for both experienced and novice P2P investors. We offer a clean design, intuitive features, and most of all, a platform and dashboard that actually offers a 14% interest on your investments. Here are some of the perks of choosing Swaper:<\/p>\n

Buyback<\/strong><\/p>\n

We offer buyback<\/a> on all your investments. That means that if a borrower defaults and takes more than 30 days to pay back their loan, we can compensate you the money along with the interest! <\/strong>You may need to wait a little longer, but you\u2019ll get your entire investment back.<\/p>\n

No fees<\/strong><\/p>\n

We won\u2019t charge any fees for you to open an account, add funds<\/a> or sell your loans. Wandoo, our loan originator<\/a>, is in charge of issuing the loans and managing the borrowers, and they make a lot of interest on those loans (over 200%!). This is what gives them enough funds to offer buyback and to charge no fees whatsoever to our investors<\/a>.<\/p>\n

High yield<\/strong><\/p>\n

Many other P2P investment sites promise yields above 10% but investors are usually left with significantly less. You can read independent Swaper reviews by The Wealthy Finn<\/a> and MoneyCheck<\/a>, and you\u2019ll see that all our investors get at least 14%; and 16% with our loyalty bonus.<\/p>\n

3 Benefits of using a P2P loan app<\/h2>\n

1. Easy to use<\/h3>\n

Apps are generally more intuitive than websites. If you\u2019re someone who prefers exploring a new programme or software with their hands, an app may be a lot more convenient for you. Sometimes, investment platforms can be confusing to follow on PC; graphs cover the entire screen, the numbers keep updating and there are constant pop-ups (although this doesn\u2019t happen on the Swaper dashboard). With an app, it\u2019s a lot more straightforward.<\/p>\n

If you are a P2P investing beginner, you\u2019re less likely to get lost within an app. Download the Swaper app and you\u2019ll be able to create an account<\/a> and start investing within seconds, without having to worry about always needing access to a computer (we know what it\u2019s like with kids).<\/p>\n

2. Get notified<\/h3>\n

The other benefit of using the Swaper app is that you\u2019ll get instantly notified when your account is funded, a withdrawal is processed or a transfer hasn\u2019t gone through. You\u2019ll be able to always remain up to date with your Swaper account and have quick and easy access to you account movements. If you want to check your account, it\u2019s a lot more secure to access the Swaper website through the app rather than through the browser on your phone.<\/p>\n

You can also choose to receive a notification whenever you receive income, whether it\u2019s daily, weekly or monthly!<\/p>\n

3. Keep track of your investments from anywhere<\/h3>\n

The Swaper app allows you to keep track of your investments, create new auto-invest portfolios<\/a>, view transactions and adjust any settings. You\u2019ll be able to do pretty much everything you can on the website also on your phone, which means you can manage your P2P investments from the gym, school or in the bath!<\/p>\n

How to get started with Swaper\u2019s P2P loan app<\/h2>\n

1.\u00a0\u00a0 Sign up<\/h3>\n

If you already have a Swaper account, then you\u2019ll just need to download the app and log in. If not, simply go through the required steps on your phone and you\u2019ll be able to create an account. To create an account you do need to be more than 18 years old, be a resident of an European Economic Area (EEA) country and have a bank account in that country. If you\u2019re new to P2P investing, we also recommend reading up on the risks that come with lending money online<\/a>.<\/p>\n

2.\u00a0\u00a0 Verify your identity<\/h3>\n

You\u2019ll then need to verify your identity<\/a> – this is something we do to combat anti-money laundering regulations<\/a> and make sure you are who you say you are. You\u2019ll need to upload a copy of your personal ID and an invoice issued by a utility company or financial institution.<\/p>\n

We\u2019ll gather your information and verify your identity and account within a maximum of 3 days (but more likely within 24 hours).<\/p>\n

3.\u00a0\u00a0 Add funds<\/h3>\n

You can add funds the minute your account is open – you just need to follow the steps on the screen in order to send your funds to the correct bank account<\/a>. With Swaper, you can get started with just 10\u20ac! We don\u2019t charge any fees and you don\u2019t need to commit to a certain amount of time.<\/p>\n

4.\u00a0\u00a0 Pick the loans you want to invest in<\/h3>\n

Our auto-invest function is the most popular feature because it\u2019s set up to maximise the amount of profit you can make from the loans. However, you can also choose to invest manually and select the criteria yourself. Criteria you can choose to adjust includes:<\/p>\n