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Get $50 for You + $50 for Your Friend ($1000 Investment Required) @ Ratesetter

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The referral bonus is back!

Earn $50 bonus when you invest $1,000+ in the 1 Month Rolling or 5 Year Income lending market before 30 June 2020.

This offer commences on 1 May 2020 and is only available to the first 2,000 eligible New Members who satisfy the applicable Eligibility Criteria set out below by 30 June 2020.

T&Cs Here: https://www.ratesetter.com.au/terms-and-conditions/investor-...

Referral Links

Referral: random (243)

$50 for referrer and $50 for referee.

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Plenti (Previously RateSetter)
Plenti (Previously RateSetter)

closed Comments

  • have these guys caught up with payout issues they were having?

    • I haven't had any of mine paid out recently. I think it's luck of the draw though.

      Just enable auto-reinvestment and the money gets lent out pretty quick.

    • I deposited some money, changed my mind and withdrew a day later - took normal time. Not sure if mine went into the same pool though.

  • I've been with them for a while and "payout issues" will be luck of the draw. I invest in 1 month rolling and most of my loans have been extended on a regular basis over the past few months. It's not usually longer than a total of 2 months, but if you're desperate to access cash I can see the frustration.

    I have also changed my settings so it transfers into my holding account, rather than auto-reinvest. Actually gives you a chance to access your money(if you need it). I've noticed as of late that even though I adjust the rate to market regularly , they have conveniently "been unable to update your rate in time". Something dodgy is going on, but we all agreed to it in the PDS.

  • Pretty high risks if the lender doesn't repay…

  • The important thing to note with RateSetter is that as a lender, unless you reinvest the interest you earned, you will not get the interest rate they advertise. Without reinvestment, the interest rate is significantly lower and needs to be considered, as nobody perpetually invests the interest that they've earned.

    https://www.reddit.com/r/AusFinance/comments/5inhvm/ratesett...

    • Well yea.. you only get the interest on the principal balance. So as the principal decreases the the quantum of interest also decreases. The rate remains the same, it's just calculated on a lesser amount.

      • Yes, that right, but the other important thing to consider is that by reinvesting the interest you've earned, you're starting another loan on the applicable (eg: 3 year) term.

        • Yep, or you could cash the principal & interest paid and put it elsewhere if you weren't interested in compounding.

          • @malich: Exactly what we're doing - Drawing it down. As most of the money we loaned out was paid back as early principle payments negating the interest we were supposed to earn.