Investing and borrowing rewritten for everyone.
RateSetter is one of the constant source of residual income in my portfolio, and the platform is easy to use and understand. My residual income from April was 8.56 GBP. If you will join using my referral, RateSetter will top up your account with 100 GBP bonus when you've kept £1,000 invested for 1 year, obtaining an easy 10% profit.
Any investment in Access can be withdrew at any time, without any fee, but the rate is lower. The Plus, Max and 5 years options are offering better rates but if you decide to withdraw your money, than an exit fee will be calculated. I share my investments between Access and 5 years, to give flexibility and easy access to some of the funds in case of emergencies, and get a better rate for the long term.
255 GBP earned since 2018 so I can vouch that the platform is efficient even if you invest little. No deposit fee now, but in the past was 1.50 GBP for every deposit.
RateSetter aims to make peer-to-peer investing as simple as possible. Your investment is automatically allocated to people and businesses looking to borrow, and aims to cover any late repayments automatically and seamlessly through a compensation fund. The company is based in Bishopsgate, London and as of June 2018, RateSetter claims that none of its individual investors have ever lost money.
Key facts:
* Launched in the UK in 2010
* First globally to launch a Provision Fund and an easy access product
* Became a member of the Finance & Leasing Association in 2016
* Winner of the "Queen's Award for Enterprise" in 2019, the most prestigious business awards in the UK
At RateSetter you earn interest every month – with returns that are higher than most savings accounts and more stable than stocks and shares.
You’re protected by the RateSetter Provision Fund, the buffer against poorly performing loans, which has a 100% track record since 2010.
You can request to release your investments at any time.. It will be processed as soon as there are funds on the market to take over your investment.
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