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Ratesetter £100 bonus
henryandmay
Posts: 54 Forumite
0
Comments
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The rates are not great (in P2P terms) since your capital is at risk but the £100 bonus makes it worth a punt if you can afford to lose the money (worst case). I did something like this back in the day. You do have to tie your money in for a year.
Note: I am talking about the signup bonus in general. You have posted a referral link for Monevator which is not allowed hereI’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
Yes. I've recently signed up for a 1 year fix which at the time was giving 4.6%. The additional £100 cashback (paid at the end of term) will raise this to an effective 14.6%, which (assuming no losses) isn't half bad. Higher rates are possible in P2P but those would tend to be self-select loans, higher risk and potentially less liquidity and/or shorter term than the full year. So, I considered the RateSetter promotion attractive, at least for the first year, I may well withdraw the lot and abandon it after that.: )0
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Flobberchops wrote: »Yes. I've recently signed up for a 1 year fix which at the time was giving 4.6%. The additional £100 cashback (paid at the end of term) will raise this to an effective 14.6%, which (assuming no losses) isn't half bad. Higher rates are possible in P2P but those would tend to be self-select loans, higher risk and potentially less liquidity and/or shorter term than the full year. So, I considered the RateSetter promotion attractive, at least for the first year, I may well withdraw the lot and abandon it after that.
Totally agree. I was an early adopter and have loans at 6%
Mrs Chopper will certainly be tempted for a year with the promotional offer though.0
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