t5
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Post by t5 on Apr 13, 2016 16:06:08 GMT
Is it just me who is finding the rates a little low compared to risk. Santander are giving me 3%, instant access and no risk. TSB give me 5%, instant access and no risk. Tesco give me 3% with the same. Given the risk we take on P2P would have thought the rates would reflect better given the time you have to tie your money up. Not seeing what the attraction is at the moment or am I missing something?
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toffeeboy
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Post by toffeeboy on Apr 13, 2016 16:26:04 GMT
Is it just me who is finding the rates a little low compared to risk. Santander are giving me 3%, instant access and no risk. TSB give me 5%, instant access and no risk. Tesco give me 3% with the same. Given the risk we take on P2P would have thought the rates would reflect better given the time you have to tie your money up. Not seeing what the attraction is at the moment or am I missing something? All of these have restrictions on them as to the amount of money that you can have in them/they pay interest on. I think you will find that most people here have already maxed out these offers and a few others as well before investing in P2P.
What do you do with any money after you have maxed all of these accounts?
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ben
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Post by ben on Apr 13, 2016 17:22:08 GMT
once you maxed out the good accounts you are looking at about 1-2% if you are lucky
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oik
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Post by oik on Apr 14, 2016 11:33:43 GMT
Is it just me who is finding the rates a little low compared to risk. Santander are giving me 3%, instant access and no risk. TSB give me 5%, instant access and no risk. Tesco give me 3% with the same. Given the risk we take on P2P would have thought the rates would reflect better given the time you have to tie your money up. Not seeing what the attraction is at the moment or am I missing something? Some of the banks have reduced the number of accounts an individual can hold, but someone who opened their accounts before that will be able to hold around £75k in such accounts. That's £150k for a couple. They could have another serious lump in regular saver accounts at similar rate. All with full FSCA protection and at better rates than easily obtainable in the most popular Ratesetter product. That's a fair amount of dosh to hold in cash for the long term rather than investing it. I've got a large-ish sum with Ratesetter that was pulled out of investments about a year ago and will be put back in as opportunities present. I don't see Ratesetter as a worthwhile option other than for the short-term especially given the idiosyncratic way the company is run and the hassle involved.
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ashtondav
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Post by ashtondav on Apr 14, 2016 13:17:29 GMT
Hassle? Hassle! Seems straightforward to me - bung your money in, choose your rate and Bob's your uncle.
Now I could tell a few tales about Santander accounts from 3 or 4 years ago. That my firend is "idiosyncracy" and "hassle". RS is a dream compared to that bunch. Not to mention Scandinavian banks a few years back.
6.4% with a PF. Blimey, some people just love a moan....
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Post by westonkevRS on Apr 14, 2016 17:58:22 GMT
Is it just me who is finding the rates a little low compared to risk. Santander are giving me 3%, instant access and no risk. TSB give me 5%, instant access and no risk. Tesco give me 3% with the same. Given the risk we take on P2P would have thought the rates would reflect better given the time you have to tie your money up. Not seeing what the attraction is at the moment or am I missing something? Where is the fun in that? You can't play the markets, you can't stick it to the man (banker), you can't have a moan about the platform, you can't boast about having non-FSCS investments, etc....
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jimc99
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Post by jimc99 on Apr 15, 2016 13:20:39 GMT
Strange reply! I absolutely agree that the current rates for lending in any but the 5 year market are not worth the risk.
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Post by Financial Thing on Apr 15, 2016 14:08:28 GMT
Is it just me who is finding the rates a little low compared to risk. Santander are giving me 3%, instant access and no risk. TSB give me 5%, instant access and no risk. Tesco give me 3% with the same. Given the risk we take on P2P would have thought the rates would reflect better given the time you have to tie your money up. Not seeing what the attraction is at the moment or am I missing something? Where is the fun in that? You can't play the markets, you can't stick it to the man (banker), you can't have a moan about the platform, you can't boast about having non-FSCS investments, etc.... I had a good laugh at this, especially the moaning about the platforms. Nice one westonkevRSIt's interesting to me how people still love to give the billionaire banks their money, for a measly 3%. What a pain having to jump through deposit and direct debit hoops to get a measly interest rates, plus you're forever watching the capped rate to make sure you don't go over. Plus I'm once again rewarding the giant corporations who helped cause an economic disaster meltdown and helped millions of people to lose billions from their retirement funds. So much for consumers voting with their feet and wallets.
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mike
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Post by mike on Apr 15, 2016 15:00:03 GMT
Some people just like to moan!
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Post by cassiopeia on Apr 15, 2016 15:06:33 GMT
I understand the so called high interest current accounts are loss leaders to the Banks. Perhaps they should be compared with the bonuses occasionally offered for opening some P2P accounts? I have to admit though the returns from some P2P loans are poor in relation to the risk of a severe downturn.
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alender
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Post by alender on Apr 15, 2016 17:33:29 GMT
It's interesting to me how people still love to give the billionaire banks their money, for a measly 3%. What a pain having to jump through deposit and direct debit hoops to get a measly interest rates, plus you're forever watching the capped rate to make sure you don't go over. Plus I'm once again rewarding the giant corporations who helped cause an economic disaster meltdown and helped millions of people to lose billions from their retirement funds. So much for consumers voting with their feet and wallets.
Not sure where these hoops are, I have one account which requires direct debits; I pay my phone, council tax, electricity etc and get good cash back. Most of the rest require only monthly deposit, easy, set up monthly sanding orders (just to be clear you only need to do this once), pay from bank one to bank 2, estimate expected interest in bank 2 account, pay the same amount + expected interest to bank 3, keep going until all accounts funded, pay last bank back to bank 1. This happens on a set day every month, all completed in short period of time usually before I get up, no intervention, no need to monitor anything as it funds will stay very close to capped rate.
On average just over 3% rate of interest, also instant access 24 hours a day in the form of cash, payments using debit cards, faster payments etc, FSCS guarantee.
RS current Rolling Market rate, last match 2.9%, 1 to 4 days get hold of funds with lose if interest, lose of interest while waiting for match, unkown risk to your funds. Not sure I would call the 3% from the banks as measly when compared to RS.
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Post by Financial Thing on Apr 15, 2016 18:22:00 GMT
Not sure where these hoops are, I have one account which requires direct debits; I pay my phone, council tax, electricity etc and get good cash back. Most of the rest require only monthly deposit, easy, set up monthly sanding orders (just to be clear you only need to do this once), pay from bank one to bank 2, estimate expected interest in bank 2 account, pay the same amount + expected interest to bank 3, keep going until all accounts funded, pay last bank back to bank 1. This happens on a set day every month, all completed in short period of time usually before I get up, no intervention, no need to monitor anything as it funds will stay very close to capped rate.
You wore me out with all that "hooping" 
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happy
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Post by happy on Apr 15, 2016 18:35:14 GMT
Not sure where these hoops are, I have one account which requires direct debits; I pay my phone, council tax, electricity etc and get good cash back. Most of the rest require only monthly deposit, easy, set up monthly sanding orders (just to be clear you only need to do this once), pay from bank one to bank 2, estimate expected interest in bank 2 account, pay the same amount + expected interest to bank 3, keep going until all accounts funded, pay last bank back to bank 1. This happens on a set day every month, all completed in short period of time usually before I get up, no intervention, no need to monitor anything as it funds will stay very close to capped rate.
You wore me out with all that "hooping" Don't end up getting it wrong and go transferring the whole lot to your FC account or you might unintentionally win yourself a new ipad air 
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Post by closetotheedge on Apr 16, 2016 9:24:20 GMT
RS current Rolling Market rate, last match 2.9%, 1 to 4 days get hold of funds with lose if interest, lose of interest while waiting for match, unkown risk to your funds. Not sure I would call the 3% from the banks as measly when compared to RS.
I have been using RS for the 5 year and the monthly for quite a while. I average 3.5% in the monthly and 6.4% in the 5 year. There are no account charges, no required direct debits or minimum monthly funding options and I can move my money out of the monthly by next day faster payment with no loss on interest. I have done this several times and it has always arrived exactly on time. Best of all I can put £10 in or £100,000 in and I get the same rate. What is not to like?
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happy
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Post by happy on Apr 16, 2016 13:28:48 GMT
RS current Rolling Market rate, last match 2.9%, 1 to 4 days get hold of funds with lose if interest, lose of interest while waiting for match, unkown risk to your funds. Not sure I would call the 3% from the banks as measly when compared to RS.
I have been using RS for the 5 year and the monthly for quite a while. I average 3.5% in the monthly and 6.4% in the 5 year. There are no account charges, no required direct debits or minimum monthly funding options and I can move my money out of the monthly by next day faster payment with no loss on interest. I have done this several times and it has always arrived exactly on time. Best of all I can put £10 in or £100,000 in and I get the same rate. What is not to like? Totally agree, I have achieved similar rates to you but also used the 3 year when it was above 5%. I'm currently investing my 3 and 5 year repayments into the monthly rolling as I need to accumulate a lump sum for some children's education fees. I can do all this inside one platform with a few clicks whilst earning over 6% on my 3/5y but still eaning more than Santadar would pay me on my accumulating lump sum. When I am near to needing the money I either just stop reinvestments a little ahead of time or sell out then I complete my transfer request and I have the money the next day. Not sure where "days of lost interest" fits into the RS experience, never suffered it myself (apart from on FC). That reminds me, I must see how many more unsecured SME loans I have managed to exit from thanks to the ipad induced buying frenzy going on at Fast Cash Happy Weekend all!
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