p2pfan
Member of DD Central
Full-Time Investor
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Post by p2pfan on Feb 6, 2024 14:29:15 GMT
Do you think Kuflink's temporary interest rate boost on AutoInvest is worthwhile?
They are offering 9% p.a. on 1 year, 10% on 2 year and 11% on 3 year.
I'm chewing over the 3 year investment option. However, my worry with longer term investing with any P2P platform is them suddenly going into administration, as many of them have.
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Post by Ace on Feb 6, 2024 15:33:20 GMT
One point worth considering if you do choose a multi-year autoinvest term is that you can elect to have the interest paid annually on the anniversary of your investment. They don't publicise this or provide any way to select it via the platform. You have to contact Kuflink and ask for it. That way, if you choose the 3 year term and something went wrong in the third year, at least you would already have received 22% in interest.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Feb 6, 2024 15:51:23 GMT
Wonder why thats a secret? Sounds like something that should be advertised, makes the 3 year a bit more appealing
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Post by Ace on Feb 6, 2024 16:01:14 GMT
Wonder why thats a secret? Sounds like something that should be advertised, makes the 3 year a bit more appealing It's buried in section 9 of the T&Cs: - If you invest in a term longer than 1 year, interest will be compounded annually on the last day of the term, unless you opt-out. Your compounded interest and capital will be payable into your wallet when the term of your investment ends.
- If you opt-out, interest will be paid into your wallet on the anniversary of your investment, and it will be your responsibility to re-invest these monies. To opt-out, contact our Investor Relations team on hello@kuflink.com or call us on 01474 334 488.
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Post by scepticalinvestor on Feb 7, 2024 9:32:50 GMT
Do you think Kuflink's temporary interest rate boost on AutoInvest is worthwhile? They are offering 9% p.a. on 1 year, 10% on 2 year and 11% on 3 year. I'm chewing over the 3 year investment option. However, my worry with longer term investing with any P2P platform is them suddenly going into administration, as many of them have. Perhaps I'm overly cautious now because of being burnt across multiple P2P platforms that were running fine until they weren't. But given what I've experienced in the last couple of years, I just can't imagine signing up to a 3 year P2P product no matter what the interest rate. 3 years is a long time!
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Post by birdie on Feb 8, 2024 9:18:46 GMT
My ISA matures in April but I have just re-termed it for another one year at 9%.
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jcb208
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Post by jcb208 on Feb 9, 2024 17:56:19 GMT
Has Kuflink gone all woke with the tone of the emails coming out  |
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rocky1
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Post by rocky1 on Feb 10, 2024 3:25:56 GMT
i dont know about the marketing spiel going a bit over board the loan origination team seem to love these multi tier loans lately.must be part of the new kuflink plans for the future. same borrower multi tier loans is not my idea of a diversified portfolio. anyway they all seem to fill one way or the other so we shall see what the future brings.
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Post by uksoul on Feb 10, 2024 3:53:26 GMT
Has Kuflink gone all woke with the tone of the emails coming out Valentine Day has got someone in admin giddy in love, for sure. " Forget just roses and chocolates. Ready to fall in love with your financial possibilities?"  
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Post by jono75 on Feb 14, 2024 15:19:48 GMT
Be careful if you go to re-term a maturing ISA, it displays the valentines offer rates, but you will actually get a lower rate if it matures after today
I only found out because I had a question about if to select "Auto" or "ISA" on the re-term dialog to get an Auto ISA and I spoke to them
I am holding fire for now.
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benaj
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Post by benaj on Feb 15, 2024 7:24:36 GMT
I guess the limited offer is now gone. Will there another “happy holidays” rate boost limited offer in the future I wonder?
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jcb208
Member of DD Central
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Post by jcb208 on Feb 15, 2024 8:38:11 GMT
I guess so until they drop the £500 minimum investment which has stopped me investing in most loans
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Post by birdie on Feb 15, 2024 12:17:41 GMT
Be careful if you go to re-term a maturing ISA, it displays the valentines offer rates, but you will actually get a lower rate if it matures after today
I only found out because I had a question about if to select "Auto" or "ISA" on the re-term dialog to get an Auto ISA and I spoke to them
I am holding fire for now.
If the rate changes you can just cancel the re-term before it matures if you're not happy with the rate offered. Just checked and you are correct, the rate was 9% now dropped to 7% when re-termed early.
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Post by Ace on Feb 15, 2024 15:29:57 GMT
By my calcs, around £3.7m was invested in the auto accounts during the offer period. The death of P2P forecast in another thread today is evidently premature.
At least another £8k was invested in the auto accounts in the last couple of hours. I would expect another offer period around the ISA year end.
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Post by Ace on Feb 26, 2024 15:35:19 GMT
Kuflink have replaced their valentine rate offer on their auto account with a new limited time offer (up to 10 am on April 9th). Prepare to be deluged with emails.
2 years at 9.6% pa.
3 years at 8% pa.
5 years at 7% pa.
I note that there was no mention of the real rates in the promotional email, but they are on the website.
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