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P2PMoneything - Interest credit
nearlyretired2004
Posts: 501 Forumite
New to Moneytrhing and was surprised to see an interest credit this morning, but only for 1 of my loans - which I only took on yesterday.
Do they not pay all interest once monthly like Savingstream?
Do they not pay all interest once monthly like Savingstream?
0
Comments
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No, MT pay interest on the "month anniversary" as it were for each individual loan so it trickles in over the month.
Lots of info on MT, SS & other P2P options at http://p2pindependentforum.com/ if you weren't aware of the site.0 -
Exactly as AlanP says - you get interest paid on the same day of the month as the loan finishes.: )0
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