gareot
Member of DD Central
Posts: 75
Likes: 63
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Post by gareot on Jun 4, 2018 18:04:39 GMT
One of my Rolling loans today for 3.1% is until the 5/6/18, giving me a return of 10p. I reckon by the time it gets back to my 1.5 % paying current account I will be out of pocket.  What with the new changes to the Rolling Market and now this I say enough is enough Ratesetter. This is one long term investor who won't be with you for much longer! |
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Stonk
Stonking
Posts: 735 
Likes: 658
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Post by Stonk on Jun 4, 2018 18:25:51 GMT
One of my Rolling loans today for 3.1% is until the 5/6/18, giving me a return of 10p. I reckon by the time it gets back to my 1.5 % paying current account I will be out of pocket. What with the new changes to the Rolling Market and now this I say enough is enough Ratesetter. This is one long term investor who won't be with you for much longer! Silly loans happen occasionally. You are often buying what someone else is selling, so the loan can start anywhere in the month, including a few days before the next repayment (which, on the Rolling market, ends it). Also you can get loans for tiny amounts as a result of almost-but-not-quite-completely matching one offer, leaving a little bit left over to match the next offer in the queue. Honestly, they're not doing it to annoy you! I've had loans for 2 days; never managed a single day though -- congratulations! But my silliest is a 23-month loan for 88 pence, which is now about half-way through earning me a grand total of 6 pence interest. (Can anyone beat that?)
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Post by df on Jun 4, 2018 19:10:51 GMT
One of my Rolling loans today for 3.1% is until the 5/6/18, giving me a return of 10p. I reckon by the time it gets back to my 1.5 % paying current account I will be out of pocket. What with the new changes to the Rolling Market and now this I say enough is enough Ratesetter. This is one long term investor who won't be with you for much longer! Silly loans happen occasionally. You are often buying what someone else is selling, so the loan can start anywhere in the month, including a few days before the next repayment (which, on the Rolling market, ends it). Also you can get loans for tiny amounts as a result of almost-but-not-quite-completely matching one offer, leaving a little bit left over to match the next offer in the queue. Honestly, they're not doing it to annoy you! I've had loans for 2 days; never managed a single day though -- congratulations! But my silliest is a 23-month loan for 88 pence, which is now about half-way through earning me a grand total of 6 pence interest. ( Can anyone beat that?) Probably everyone who invested in GBBA on AC can beat that? I had few loans for under 5p - not sure if they ever earned anything. I've never had this with RS, nothing shorter than 28 days and never smaller than £20.
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Yintara
Member of DD Central
Posts: 61
Likes: 83
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Post by Yintara on Jun 5, 2018 20:44:13 GMT
But my silliest is a 23-month loan for 88 pence, which is now about half-way through earning me a grand total of 6 pence interest. (Can anyone beat that?) I've had 4p interest stuck in my cash account for ages, can't withdraw it until another loan repays to bulk it up a bit. 8 months it's been stuck in there, earning 0%. There goes this year's holiday fund. 
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Post by propman on Jun 8, 2018 16:06:25 GMT
One of my Rolling loans today for 3.1% is until the 5/6/18, giving me a return of 10p. I reckon by the time it gets back to my 1.5 % paying current account I will be out of pocket. What with the new changes to the Rolling Market and now this I say enough is enough Ratesetter. This is one long term investor who won't be with you for much longer! Silly loans happen occasionally. You are often buying what someone else is selling, so the loan can start anywhere in the month, including a few days before the next repayment (which, on the Rolling market, ends it). Also you can get loans for tiny amounts as a result of almost-but-not-quite-completely matching one offer, leaving a little bit left over to match the next offer in the queue. Honestly, they're not doing it to annoy you! I've had loans for 2 days; never managed a single day though -- congratulations! But my silliest is a 23-month loan for 88 pence, which is now about half-way through earning me a grand total of 6 pence interest. (Can anyone beat that?) I had a 30p loan that was not scheduled to pay me any interest at all.
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lara
Posts: 345
Likes: 300
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Post by lara on Aug 2, 2018 21:18:22 GMT
But my silliest is a 23-month loan for 88 pence, which is now about half-way through earning me a grand total of 6 pence interest. (Can anyone beat that?) I've had 4p interest stuck in my cash account for ages, can't withdraw it until another loan repays to bulk it up a bit. 8 months it's been stuck in there, earning 0%. There goes this year's holiday fund. With RateSetter? Just deposit £9.96 then you can withdraw or invest the £10.
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rscal
Posts: 914
Likes: 503
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Post by rscal on Aug 3, 2018 8:42:48 GMT
Probably everyone who invested in GBBA on AC can beat that? I had few loans for under 5p - not sure if they ever earned anything. I've never had this with RS, nothing shorter than 28 days and never smaller than £20. But (forgive me if I'm wrong) don't they split the calculation down into micro pennies so that interest does accrue, however frational, and at some point that will cause a 'rounding up' to occur. Assuming your capital of 5p is returned, won't that 5p have given you a reutrn? (As I say I'm not sure about this yet, being new to AC, but that's my understanding of it) Now, with Ratesetter it's all 'black box' as far as the fraction-of-a-penny interest is concerned. I made enquiries and got some vague response that they do carry and round (which I would expect them to do) The difference appears to be that it's not spelled out expressly.
On micro loans from RS, what's their excuse? You're supposed to be 'matched' to an individual borrower that wants a car or something expensive, not a payday loan, and I am annoyed whenever RS splits my investment to suit the process. I accept that many folks are putting in odds amounts from repayments but I like to make loans always multiples of £10. ( If I'm not allowed to lend less than £10 (an can't cash out a loan under £10) how is it that RS can do this [cough] for you? )
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Post by df on Aug 3, 2018 21:54:43 GMT
Probably everyone who invested in GBBA on AC can beat that? I had few loans for under 5p - not sure if they ever earned anything. I've never had this with RS, nothing shorter than 28 days and never smaller than £20. But (forgive me if I'm wrong) don't they split the calculation down into micro pennies so that interest does accrue, however frational, and at some point that will cause a 'rounding up' to occur. Assuming your capital of 5p is returned, won't that 5p have given you a reutrn? (As I say I'm not sure about this yet, being new to AC, but that's my understanding of it) Now, with Ratesetter it's all 'black box' as far as the fraction-of-a-penny interest is concerned. I made enquiries and got some vague response that they do carry and round (which I would expect them to do) The difference appears to be that it's not spelled out expressly.
On micro loans from RS, what's their excuse? You're supposed to be 'matched' to an individual borrower that wants a car or something expensive, not a payday loan, and I am annoyed whenever RS splits my investment to suit the process. I accept that many folks are putting in odds amounts from repayments but I like to make loans always multiples of £10. ( If I'm not allowed to lend less than £10 (an can't cash out a loan under £10) how is it that RS can do this [cough] for you? )
Yes, you are right, micro return from 5p will add to overall return. On RS, I have under £10 returns from my very small 5 year account and I withdraw them. If RS had similar system to AC or LW this money would've been reinvested on RS.
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What with the new changes to the Rolling Market and now this I say enough is enough Ratesetter. This is one long term investor who won't be with you for much longer! 
