Rob
Posts: 138
Likes: 36
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Post by Rob on Sept 15, 2017 6:40:53 GMT
According to the daily e-mails which I receive, the maximum interest rate for short-term BB loans is now 11% and for longer-term PG loans is 10%. When they suddenly reduced the interest rate to 10% for all loans some time ago, they were forced to reverse this policy as no-one would invest. Now they have done it gradually, they seem to have got away with it. I do not understand why people have succumbed to this as there are loans with buyback available on other platforms with much better interest rates. I am withdrawing my money as it becomes available and moving it elsewhere whilst this policy prevails.
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arnis
New Member
Posts: 5
Likes: 6
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Post by arnis on Sept 19, 2017 17:47:27 GMT
I have the same observation. The problem is that I've set my autoinvest to 11% now and it can't even get any loans (maybe only once a week) and my money is on idle. If you are asking why people are still investing? I guess that the best answer would be #1 rule of investments - Diversification (at least for me) Don't think that it is wise to keep all your p2p portfolio on one platform. And while 10-11% is not the best, it is still reasonable.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,317
Likes: 893
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Post by JamesFrance on Sept 20, 2017 8:02:42 GMT
I have been withdrawing steadily since the drop in rates and now only have a few hundred left of my investment. However my account has over €6000 in it thanks to the good profit opportunity in the early days.
I am now investing repayments at 10% which seems only fair and will keep the present level as part of my overall investments. There is no British platform that I know of which will give 10% after defaults.
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