In last 3 months 5paisa has released 4 new apps on play store:
5paisa Loans - Online Personal Loan
5paisa School Stock Market Education, Learning App
5paisa Money – Partner App, Become Partner & Earn
Invest: Mutual Fund App by 5paisa. SIP, ELSS @ 0Fee
They have started their p2p lending business. 5paisa will take fee from both borrower and lender whereas some other p2p businesses charge fee to borrowers only.
Borrower fees:
-
Processing fee:
A processing fee of 2.5% of the loan amount is levied and gets automatically deducted from the loan amount before disbursal. -
Late payment Fee:
If borrower fails to pay EMI on time, a late fee of 24% per annum will be charged on the EMI amount.
Lender:
- Processing Fee:
The fee applicable is processing fee charged at 1.5% of the disbursed amount.
Apart from p2plending app, they have launched an leaning app for new investors in stock markets. With learning content in English and Hindi.
Their 5paisa money app is a partner app through which any person can earn money by referring clients and getting their account opened with 5paisa. The referral will give a person a fixed fee plus a share of brokerage earned on trades executed by referred used. I think Upstox also has similar brokerage sharing referral program. Unlike Upstox and Zerodha, 5paisa also charges brokerage on delivery trades.
Lastly, they have lost market share last month. Groww which had launched its broking services recently has gained almost 1% market share. Paytm Money has also started beta testing its brokerage platform. Competition in this space is heating up.
Disclosure: Invested a very tiny amount, the stock ran up too fast before I could accumulate.