r00lish67
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Post by r00lish67 on Dec 19, 2019 19:05:20 GMT
As I'm, for the first time since the new products launched, considering re-entering the fray I'm just thinking out loud. Unless you think you'll need the money in a hurry, would MAX not always be the best product? I say this as MAX rates are 1.00% p.a higher than access. The access fee is 90d interest i.e. 1/4 of the going rate, so currently 1.00%. So providing you're confident that you will retain your investment for about a year (slightly less in fact as it will amortise away) then you're going to be earning a higher rate than access/plus even if you subsequently cash them in (unless the GR shoots massively upwards, which doesn't feel particularly imminent). This combined with the fact that using P2P in general as "easy access" is a bad plan in my view, that seems to steer me towards always using MAX. Agree/disagree? Aside from paying a fee, is there any other prioritising done between products when using RYI? That would be the only other thing to make me interested in Access - if RYI's were prioritised even after the Plus/Max orders have paid their fee. I prefer RS "Access", mainly because of what RS offers: - flexibility - instant top up with Debit card- 0 access fee - up-to-date interest Max is equally as flexible. Max also allows debit card top-ups (as far as I know it makes no difference?) Not quite sure what you mean by "up to date interest", but max pays interest when due too. The only variant is the access fee, which as I've said above, will be recouped within a year and then exceeded.
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ashtondav
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Post by ashtondav on Dec 19, 2019 19:08:23 GMT
Nope. Currently 3% access, 3.5% plus, 4% Max. Got 4.1% on access last night so why would i want Max?
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r00lish67
Member of DD Central
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Post by r00lish67 on Dec 19, 2019 19:22:14 GMT
Nope. Currently 3% access, 3.5% plus, 4% Max. Got 4.1% on access last night so why would i want Max? Last night max went up to 5.3 or 5.4 i think. As I say, it's always 1% higher as it's the same queue. Fair enough if you prefer access though.
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Post by df on Dec 19, 2019 19:47:11 GMT
I had an early repayment today and instead of withdrawing put it in the queue (access @4.9%) - 458k in front of me, probably too ambitious (I'm not familiar with new RS mechanism). I'm thinking of withdrawing if the money don't match by tomorrow.
Normally withdrawals arrive to my bank account on the next day, but I've never done it on Friday. Could anyone advise me if Friday withdrawals arrive on Saturday or next Monday?
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Post by Deleted on Dec 19, 2019 19:50:31 GMT
I had an early repayment today and instead of withdrawing put it in the queue (access @4.9%) - 458k in front of me, probably too ambitious (I'm not familiar with new RS mechanism). I'm thinking of withdrawing if the money don't match by tomorrow. Normally withdrawals arrive to my bank account on the next day, but I've never done it on Friday. Could anyone advise me if Friday withdrawals arrive on Saturday or next Monday? They arrive on Monday (it says that when you arrange the withdrawal). So it's worth leaving the money in RS until Sunday evening in case rates increase. You can withdraw on Sunday evening and the money will still arrive on Monday afternoon.
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Post by df on Dec 19, 2019 19:58:25 GMT
I had an early repayment today and instead of withdrawing put it in the queue (access @4.9%) - 458k in front of me, probably too ambitious (I'm not familiar with new RS mechanism). I'm thinking of withdrawing if the money don't match by tomorrow. Normally withdrawals arrive to my bank account on the next day, but I've never done it on Friday. Could anyone advise me if Friday withdrawals arrive on Saturday or next Monday? They arrive on Monday (it says that when you arrange the withdrawal). So it's worth leaving the money in RS until Sunday evening in case rates increase. You can withdraw on Sunday evening and the money will still arrive on Monday afternoon. Thank you @inv11 , makes sense leaving it until Sunday evening.
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Stonk
Stonking
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Post by Stonk on Dec 19, 2019 20:00:05 GMT
Nope. Currently 3% access, 3.5% plus, 4% Max. Got 4.1% on access last night so why would i want Max? A: Because at exactly the same moment you had 4.1% on Access you could have 5.1% on Max.
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Post by gravitykillz on Dec 20, 2019 7:53:40 GMT
Managed to get some cash in at 4.2% yesterday evening. Surprised at how many 4% or more rates are available. I thought they would be rare on access. Anyways I am back in on ratesetter while they have a strong provision fund. However will refrain from putting more in.
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ashtondav
Member of DD Central
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Post by ashtondav on Dec 20, 2019 12:25:02 GMT
Nope. Currently 3% access, 3.5% plus, 4% Max. Got 4.1% on access last night so why would i want Max? A: Because at exactly the same moment you had 4.1% on Access you could have 5.1% on Max. But hasn't that relationship changed? Didn't it used to be 3% Access, 4% plus and 5% Max, ie a 2% points difference.
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Post by stevepn on Dec 20, 2019 15:00:43 GMT
Nope. Currently 3% access, 3.5% plus, 4% Max. Got 4.1% on access last night so why would i want Max? A: Because at exactly the same moment you had 4.1% on Access you could have 5.1% on Max. 5.1% is not very good for 5 year rate.
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Post by bernythedolt on Dec 20, 2019 15:52:15 GMT
A: Because at exactly the same moment you had 4.1% on Access you could have 5.1% on Max. 5.1% is not very good for 5 year rate. The market seems to agree. Yesterday, the rate available on the 1yr market overtook the 5yr market for the first time in almost a year.
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upperdeane
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Post by upperdeane on Dec 21, 2019 11:50:02 GMT
Access available at 4.1% currently (£8.3k available at the moment).
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upperdeane
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Post by upperdeane on Dec 21, 2019 12:01:01 GMT
Access available at 4.1% currently (£8.3k available at the moment). 4.1% money all taken now. Back down to 3.8%.
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coogaruk
Hello everyone! Anyone remember me?
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Post by coogaruk on Dec 22, 2019 14:48:26 GMT
Matched all the way up to 4.4% today. Happy days
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Post by gravitykillz on Dec 22, 2019 17:34:02 GMT
Yep. 4.4% is still available. I have more funds in rs than I feel comfortable with with an rate of 4.2%. Otherwise I would chuck more money at the beast that keeps on giving.
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