RangDe is a non-profit organization, with a view to make a social impact through micro-finance It partners with various trusted NGOs in different states of India. These NGOs find and list micro entrepreneurs, for example a lady who wants to borrow ten thousand rupee and buy a cow. The NGO will list her and her requirement for loan on the RangDe.org. People like you and me can go to this website, browse through the potential borrowers listed and lend them starting with smallest amount of one hundred rupee or more. Eventually many lenders put together ten thousand rupee and the amount is given to borrower.
RangDe makes sure about dealing with trusted partners so you are assured of your help reaching the right people. Eventually when through part payments you get the money back, you can go to your online account and lend it to someone else. OR have a feature called "auto Lend" enabled which will automatically pick a borrower and lend as soon as the amount becomes available in your account.
So effectively this organization gives me an opportunity to help a micro entrepreneur far away and put my money to good use. The return rates (percentage of borrowers successfully repaying all loans) is 99.0+% and therefore is an indication that these loans are given to the right people.
I personally use any occasions like birthdays, anniversaries etc to go to RangDe and lend five hundred or thousand rupees, which over time has accumulated and with auto lend option i dont have to keep track of it. The system picks the right borrowers and automatically allocates any amount that has accumulated in m account for lending. So the money just keeps rotating and put to good use.
Eventually this money is helping create a lot of value in terms of employment and encouraging micro entrepreneurs to provide services to people around them.
At this stage RangDe has presence in 5-6 states, I wish they partner with more and more organizations and grow their presence to all over the country, and may be eventually to other countries too.
RangDe makes sure about dealing with trusted partners so you are assured of your help reaching the right people. Eventually when through part payments you get the money back, you can go to your online account and lend it to someone else. OR have a feature called "auto Lend" enabled which will automatically pick a borrower and lend as soon as the amount becomes available in your account.
So effectively this organization gives me an opportunity to help a micro entrepreneur far away and put my money to good use. The return rates (percentage of borrowers successfully repaying all loans) is 99.0+% and therefore is an indication that these loans are given to the right people.
I personally use any occasions like birthdays, anniversaries etc to go to RangDe and lend five hundred or thousand rupees, which over time has accumulated and with auto lend option i dont have to keep track of it. The system picks the right borrowers and automatically allocates any amount that has accumulated in m account for lending. So the money just keeps rotating and put to good use.
Eventually this money is helping create a lot of value in terms of employment and encouraging micro entrepreneurs to provide services to people around them.
At this stage RangDe has presence in 5-6 states, I wish they partner with more and more organizations and grow their presence to all over the country, and may be eventually to other countries too.
