Got a credit card? use our Credit Card & Finance Calculators
Thanks to Anonymous,bruncher,niord,gvonge,Shelford, for Donating to support the site
Ratesetter: hints and tips?
-
- Lemon Half
- Posts: 6385
- Joined: November 4th, 2016, 11:35 am
- Has thanked: 1882 times
- Been thanked: 2026 times
Ratesetter: hints and tips?
Just got myself a Ratesetter account, mainly because of the potential £100 bonus at 1yr.
Any customers out there, satisfied or otherwise? Any hints and tips ?
Obviously I'm going through the small print, but would be interested in people's experiences
Any customers out there, satisfied or otherwise? Any hints and tips ?
Obviously I'm going through the small print, but would be interested in people's experiences
-
- Lemon Quarter
- Posts: 3169
- Joined: November 4th, 2016, 11:12 am
- Has thanked: 3732 times
- Been thanked: 1539 times
Re: Ratesetter: hints and tips?
I opened an account about 8 months ago, and have savings in the Rolling, 1 and 3 year markets. The 3 year market is no longer available but there is a 5 year market for the longer term. The 3 and 5 year markets repay capital as well as interest monthly, so you receive a capital return each month like a repayment mortgage in reverse. Rates have fallen for each product since I opened my acc. I obtained just over 4% for the 1 year market but it now looks difficult to get much over 3%. There is a graph on the RS site which show recent\historical rates which is useful to see what rates you are likely to get and whether it might be worth waiting for a slightly higher rate. I have returns of capital and interest automatically reinvested in the Rolling market. All of my re-investments in the RM have been for loans of about one month duration which are then rolled over again at the end of the month. Almost all re-investments in the RM have been at rates of 2.9\3.0%. I regard Ratesetter as a relatively low risk p2p and have been quite content with the service so far. You can set the rate at which you wish to lend and I have used this once or twice to get a small increase in interest compared with the price then advertised; obviously if you ask for too high a rate it will remain unfulfilled. I think I can claim to be a satisfied customer.
HTH
RC
HTH
RC
-
- Lemon Half
- Posts: 6385
- Joined: November 4th, 2016, 11:35 am
- Has thanked: 1882 times
- Been thanked: 2026 times
Re: Ratesetter: hints and tips?
Thanks, interesting info , will look at site in more detail when i stop getting bothered by work
Do ratesetter supply a nice simple tax statement at the end of the (financial) year?
Do ratesetter supply a nice simple tax statement at the end of the (financial) year?
-
- Lemon Quarter
- Posts: 3169
- Joined: November 4th, 2016, 11:12 am
- Has thanked: 3732 times
- Been thanked: 1539 times
Re: Ratesetter: hints and tips?
AleisterCrowley wrote:Thanks, interesting info , will look at site in more detail when i stop getting bothered by work
Do ratesetter supply a nice simple tax statement at the end of the (financial) year?
It looks like they do.
RC
-
- Lemon Half
- Posts: 6385
- Joined: November 4th, 2016, 11:35 am
- Has thanked: 1882 times
- Been thanked: 2026 times
Re: Ratesetter: hints and tips?
I'm guessing the £100 bonus will be treated as taxable interest rather than a capital gain
-
- Lemon Half
- Posts: 6139
- Joined: November 4th, 2016, 1:12 pm
- Has thanked: 1589 times
- Been thanked: 1801 times
Re: Ratesetter: hints and tips?
AleisterCrowley wrote:I'm guessing the £100 bonus will be treated as taxable interest rather than a capital gain
There's a discussion on the aspect here http://forum.p2pmoney.co.uk/thread/5038 ... -rs?page=1 where the RateSetter representative said (the penultimate post), due to different individual circumstances, one would need to ask customer services.
-
- Lemon Half
- Posts: 6385
- Joined: November 4th, 2016, 11:35 am
- Has thanked: 1882 times
- Been thanked: 2026 times
Re: Ratesetter: hints and tips?
Hmmm... thanks PD, will investigate
Not directly comparable, but I recall my 'takeover bonus' from Portman BS (or Staffordshire?) was taxed as interest (when it was clearly not interest, although tiered depending on amount invested)
Not directly comparable, but I recall my 'takeover bonus' from Portman BS (or Staffordshire?) was taxed as interest (when it was clearly not interest, although tiered depending on amount invested)
-
- Lemon Quarter
- Posts: 2081
- Joined: November 4th, 2016, 11:53 am
- Has thanked: 3203 times
- Been thanked: 417 times
Re: Ratesetter: hints and tips?
its fine - getting around 3% , plus they gave me £50 - dont know why !
-
- Lemon Half
- Posts: 6139
- Joined: November 4th, 2016, 1:12 pm
- Has thanked: 1589 times
- Been thanked: 1801 times
Re: Ratesetter: hints and tips?
jackdaww wrote:... plus they gave me £50 - dont know why !
The introductory bonus was at some stage £50 or you received a referral bonus.
Who is online
Users browsing this forum: No registered users and 3 guests