P2P Directory Part 7: Performance Analysis

Choosing a P2P platform based on "Target Returns" alone is a dangerous strategy. The real metric of success is the Net Return (Target Return minus NPA/Defaults).

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📊 Comparison Table: Platform Metrics (May 2026)

Platform	Avg. Target Return	Est. NPA Rate	AUM / Scale	Ideal For
IndiaP2P	15% - 18%	< 1.0%	Moderate	High Yield + Low Risk
LiquiLoans	9% - 11%	~2.5%	Very High	Conservative Investors
LenDenClub	10% - 12%	3.61% - 3.88%	High	Diversification Seekers
Cashkumar	11% - 14%	0.00% (Biz)	Low	Liquidity (Short Tenure)
Faircent	12% - 18%	Variable	High	Pro/Manual Investors
Lendbox	11% - 14%	~9.75% (HY)	Moderate	Risk-Takers
1 Finance P2P	Up to 16%	0.00% (New)	Very Low	Early Adopters
Rang De	4% - 6%	0.31%	Moderate	Social Impact

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📉 Understanding the "AUM vs. NPA" Trade-off

As platforms grow in AUM (Assets Under Management), they often have to loosen their credit filters to accommodate the massive inflow of capital. This is why you often see "Giants" with higher NPA rates (3-4%) compared to specialized boutique platforms (<1%).

Key Takeaways for 2026:

1. NPA Transparency: Platforms like LenDenClub and IndiaP2P lead the industry by publishing monthly "Factsheets." If a platform hides its NPA numbers, exercise extreme caution.
2. The "Net" Math: If a platform offers 12% and has 4% NPA, your actual return is roughly 8% (minus fees and tax). Always calculate the net.
3. The August 2024 Legacy: Post-RBI crackdown, platforms can no longer guarantee returns. Any platform still promising "Fixed 12%" is likely in violation of RBI guidelines or using deceptive marketing.

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Next Part: Part 8: The Master List — The Exhaustive 50+ Platform Directory Registry