macro
Member of DD Central
Posts: 86 
Likes: 70
|
Post by macro on Mar 29, 2018 6:38:04 GMT
Growth Street are offering a Spring Bonus - the following from email received:
Increase your investment for 1 year to earn a bonus paid straight into your Growth Street account.
Increase your investment by:
£2,500 - £4,999.99 for a bonus of £50
£5,000 - £9,999.99 for a bonus of £100
£10,000 - £24,999.99 for a bonus of £200
£25,000 - £49,999.99 for a bonus of £500
£50,000+ for a bonus of £1000
Here's how to claim your bonus:
Increase your Investment
By 14th April 2018, increase your total investment on the platform by £2,500 or more. Increase your investment by a higher amount to earn a higher bonus, as per the table above.
Invest for 12 months
Maintain your new total level of investment until 14th April 2019.
Receive bonus
We will credit your account with the bonus you’ve qualified for by 28th April 2019.
|
|
|
|
Post by nesako on Mar 29, 2018 9:27:08 GMT
So 2% bonus on the new money... I will have a good think about it, I already increased my holding for the Christmas one hmm
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Mar 29, 2018 9:41:38 GMT
So 2% bonus on the new money... I will have a good think about it, I already increased my holding for the Christmas one hmm Well it beats the AC offer, which is 1% - well, about 0.4% as it is only for 4 months max - and has a lower rate on the 30 day account before bonus. I think I can be tempted.
|
|
r00lish67
Member of DD Central
Posts: 2,692
Likes: 4,048
|
Post by r00lish67 on Mar 29, 2018 10:04:20 GMT
So 2% bonus on the new money... I will have a good think about it, I already increased my holding for the Christmas one hmm Well it beats the AC offer, which is 1% - well, about 0.4% as it is only for 4 months max - and has a lower rate on the 30 day account before bonus. I think I can be tempted. I was going to give caution regarding the size and appointed representative status of Growth Street with the FCA, but upon checking my facts it seems that Growth Street has, as of 2 days ago, been granted full authorisation, which is great news. easteregg you may want to update your table. Still, their small size does IMV make them a higher risk proposition than AC. But I will now think twice about whether I'm going to remove my funds as I had planned. Edit: I should add, they are regulated for their P2P activities with us, but their B2B lending is not subject to regulation. GS FAQ
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Mar 29, 2018 10:09:38 GMT
Well it beats the AC offer, which is 1% - well, about 0.4% as it is only for 4 months max - and has a lower rate on the 30 day account before bonus. I think I can be tempted. I was going to give caution regarding the size and appointed representative status of Growth Street with the FCA, but upon checking my facts it seems that Growth Street has, as of 2 days ago, been granted full authorisation, which is great news. easteregg you may want to update your table. Still, their small size, does IMV make them a higher risk proposition than AC. But I will now think twice about whether I'm going to remove my funds as I had planned. Aha - so ISA may be on the way too. That would be welcome (and worth more than a 2% bonus for higher/additional rate taxpayers). Strategy: get the money in, locked for 1 year (if you want the bonus), then get some more in with an ISA offering?
|
|
treeman
Member of DD Central
Posts: 1,026
Likes: 557
|
Post by treeman on Mar 29, 2018 10:15:57 GMT
Assuming that this means they are on a cash hunt - why not raise the rates back towards where they were? May be more attractive than a 12 month commitment?
Does anyone know if the bonuses get listed as (taxable) income?
And why list all the tiers when it's 2% bonus regardless ?
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Mar 29, 2018 10:22:07 GMT
Assuming that this means they are on a cash hunt - why not raise the rates back towards where they were? May be more attractive than a 12 month commitment? Does anyone know if the bonuses get listed as (taxable) income? And why list all the tiers when it's 2% bonus regardless ? it's only 2% if you invest the minimum in each tier
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Mar 29, 2018 10:24:06 GMT
Assuming that this means they are on a cash hunt - why not raise the rates back towards where they were? May be more attractive than a 12 month commitment? Does anyone know if the bonuses get listed as (taxable) income?And why list all the tiers when it's 2% bonus regardless ? I suspect it is bonus interest (taxable) rather than cashback paid at time of investment (not taxable).
|
|
treeman
Member of DD Central
Posts: 1,026
Likes: 557
|
Post by treeman on Mar 29, 2018 10:35:54 GMT
Assuming that this means they are on a cash hunt - why not raise the rates back towards where they were? May be more attractive than a 12 month commitment? Does anyone know if the bonuses get listed as (taxable) income? And why list all the tiers when it's 2% bonus regardless ? it's only 2% if you invest the minimum in each tier What I meant was there's no bigger bonus (% wise) for £50k (£1000) than £2.5K (£50) - why not just say 2% on £2.5k and above?
|
|
|
|
Post by bobthebuilder on Mar 29, 2018 10:38:23 GMT
Assuming that this means they are on a cash hunt - why not raise the rates back towards where they were? May be more attractive than a 12 month commitment? Does anyone know if the bonuses get listed as (taxable) income?And why list all the tiers when it's 2% bonus regardless ? I suspect it is bonus interest (taxable) rather than cashback paid at time of investment (not taxable). I'd be more inclined to interpret it as cashback (not taxable) even though it's paid after a year. If you get £50 regardless of whether you invest £2500 or £4999.99, it can't be interest.
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Mar 29, 2018 10:43:12 GMT
it's only 2% if you invest the minimum in each tier What I meant was there's no bigger bonus (% wise) for £50k (£1000) than £2.5K (£50) - why not just say 2% on £2.5k and above? because if you put in say £4K, you don't get 2%
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Mar 29, 2018 10:50:03 GMT
I suspect it is bonus interest (taxable) rather than cashback paid at time of investment (not taxable). I'd be more inclined to interpret it as cashback (not taxable) even though it's paid after a year. If you get £50 regardless of whether you invest £2500 or £4999.99, it can't be interest. May depend on what GS puts on its tax sheets On the transactions summaries, previous bonuses go as "deposit" rather than interest which would support your view. End of the day, I suppose it is up to you what you put on the tax return and whether HMRC challenges it. I think I will go with cashback and not put it on.
|
|
treeman
Member of DD Central
Posts: 1,026
Likes: 557
|
Post by treeman on Mar 29, 2018 10:50:58 GMT
What I meant was there's no bigger bonus (% wise) for £50k (£1000) than £2.5K (£50) - why not just say 2% on £2.5k and above? because if you put in say £4K, you don't get 2% Ahh yeah - slow head on this morning ........... 
|
|
macro
Member of DD Central
Posts: 86
Likes: 70
|
Post by macro on Mar 29, 2018 10:57:44 GMT
Assuming that this means they are on a cash hunt - why not raise the rates back towards where they were? May be more attractive than a 12 month commitment? Does anyone know if the bonuses get listed as (taxable) income? And why list all the tiers when it's 2% bonus regardless ? My bold. I believe they have been stable at 5.3% for a fair while now. It would indeed be nice to see a rise though. I fear an influx of new incentivised cash is sadly likely to depress both rates and mood alike. 
|
|
IFISAcava
Member of DD Central
Posts: 3,692
Likes: 3,018
|
Post by IFISAcava on Mar 29, 2018 11:01:54 GMT
Assuming that this means they are on a cash hunt - why not raise the rates back towards where they were? May be more attractive than a 12 month commitment? Does anyone know if the bonuses get listed as (taxable) income? And why list all the tiers when it's 2% bonus regardless ? My bold. I believe they have been stable at 5.3% for a fair while now. It would indeed be nice to see a rise though. I fear an influx of new incentivised cash is sadly likely to depress both rates and mood alike. Although 2% tax free for a year likely to make up for a few tenths off (if it happens)
|
|
