$50 bonus when you invest $1,000+ in the 5 Year Income lending market before 30 November
$50 for referrer and $50 for referee.
Investors are charged an interest margin fee of an amount equivalent to 10% of the gross interest they receive from borrowers. This is charged whenever an interest payment is received. Investors do not earn interest on funds in their holding account, as interest earned on the bank account that holds Plenti investors’ funds is retained by Plenti. Management costs also include borrower fees. Read our Product Disclosure Statement for further details.
No withdrawal of funds until the end of lending market indicative term
Higher risk, higher reward.
How the hell did PETER FOSTER get internet access in Prison?
The important thing to note with Plenti (Formally RateSetter) is that as a lender, unless you reinvest the interest (compounding) that you earned, you will not get the interest rate they advertise.
Without reinvestment, the interest rate is significantly lower. In addition, each reinvestment (to obtain the compounding interest) is new loan for a new term - i.e: 3 years.
Yep - you just set up your holding account to go back out at the market rate or at a set % (I choose market rate as I've set it and market has dropped and the funds sat there for months).
I believe this is ratesetter who've rebranded themselves
yes they used to be called ratesetter and are bigger in uk. their ipo on asx is due to start trading on 23 sept, bought some shares hope they go up.
Another negative aspect of Plenti: They also recently (~ 3 months ago) set a maximum interest rate on their 1 month lending scheme at 4.0%p.a. Previously on the open market rates were up to 7.0%…
A Plenti fee is also deducted from the rate you lend at.