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AD. Recently I wrote a post on RateSetter and peer-to-peer lending. Today I have more information to share with you, including details of a generous bonus from RateSetter for new customers. Read more to learn a little more about peer-to-peer-lending and how you can earn a £100 bonus on your investment.
What is peer-to-peer lending?
Peer-to-peer platforms, such as RateSetter, work by bringing together investors and people who want to borrow money. Banks have been using deposits from customers to lend money to borrowers for years now. With peer-to-peer-lending investors can be involved in this process and can receive returns that exceed the rate of inflation.
How can you earn £100 with RateSetter?
If you have not previously registered with RateSetter, can invest a minimum of £1,000 through the RateSetter ISA or Everyday Account, have your funds matched within 8 weeks of you opening an account and can keep £1,000 invested for a minimum of 1 year then you should qualify for this bonus. You can learn more about the RateSetter bonus and the terms.
Do you need lots of money for peer-to-peer-lending?
Absolutely not. While you do need to commit to investing £1,000 for 1 year, to receive the £100 bonus, if this isn’t for you then you can get started from as little as a £10 investment! I personally feel that this is a great way to dip your toe into investments, without committing to typing up lots of money. As we are about to move house, and hopefully get a mortgage, we don’t necessarily want to tie up lots of money. Lots of our savings are in premium bonds at the moment, but going forward I am going to want to diversify more, and I hope to take up the RateSetter offer myself soon.
How quickly can you get money back?
If your plans for your investment change, and you want to get your money back. Early access is not guaranteed, however, on average investors have been able to access their money back in to their holding account within 24 hours.
If you’re looking to get started with RateSetter, and peer-to-peer lending, then be sure to check out the RateSetter bonus and the terms. This bonus offers a fantastic opportunity to get started with peer-to-peer-lending and potentially boost your passive income. Passive income is part of my long term financial goals, as I love having money that is coming to me with no work on my part. I’m looking to explore a number of investment options over the next 5 years, and peer-to-peer lending is one of those.
As with many investment platforms, you can lose some or all of your money. Your capital and interest are at risk. No FSCS protection. I am not qualified to give financial advice and all opinions in this post are my own.