huxs
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Post by huxs on Feb 11, 2022 10:59:47 GMT
Update... So from now (10/2/2022) until the 17th of February 2022, if you invest over £1,000 as your first Investment, you are entitled to up to 1.5% Q Boost. And don't worry, this will also apply to investments made in this offer retroactively! Don't forget that the bonus is rounded up to the next multiple of £100, so that's a 10% boost for a new investor. I make that an XIRR of 27.37%. I'm sure that would attract more funding, if only they would promote the real returns. So if I have already invested say £500 in this investment would adding another £500 mean I am eligible ? Or is this only for a new £1000 added on top and also does this have to be my first investment on the platform ?
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dave4
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Post by dave4 on Feb 11, 2022 11:32:05 GMT
Don't forget that the bonus is rounded up to the next multiple of £100, so that's a 10% boost for a new investor. I make that an XIRR of 27.37%. I'm sure that would attract more funding, if only they would promote the real returns. So if I have already invested say £500 in this investment would adding another £500 mean I am eligible ? Or is this only for a new £1000 added on top and also does this have to be my first investment on the platform ? im assuming £500 and a new £500 would class as " retroactively" exact Q boost details on Q platform please check them out for exact Qualifying amounts details.
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huxs
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Post by huxs on Feb 11, 2022 11:38:29 GMT
So if I have already invested say £500 in this investment would adding another £500 mean I am eligible ? Or is this only for a new £1000 added on top and also does this have to be my first investment on the platform ? im assuming £500 and a new £500 would class as " retroactively" exact Q boost details on Q platform please check them out for exact Qualifying amounts details. Yes but looks like it is only valid if this is your first investment on the platform so if you have invested in any other projects then its not valid. So no good for anyone but first timers to Qardus !!
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Post by Ace on Feb 11, 2022 11:45:33 GMT
im assuming £500 and a new £500 would class as " retroactively" exact Q boost details on Q platform please check them out for exact Qualifying amounts details. Yes but looks like it is only valid if this is your first investment on the platform so if you have invested in any other projects then its not valid. So no good for anyone but first timers to Qardus !! Yes, that's right. The bonus is also valid for QFirst members. If you've already invested £10k on the platform, and invest £2.5k in this deal you also get the £100 bonus.
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littleoldlady
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Post by littleoldlady on Feb 11, 2022 12:47:57 GMT
im assuming £500 and a new £500 would class as " retroactively" exact Q boost details on Q platform please check them out for exact Qualifying amounts details. Yes but looks like it is only valid if this is your first investment on the platform so if you have invested in any other projects then its not valid. So no good for anyone but first timers to Qardus !! Is there anything to stop one opening a second account. eg in a family member's name?
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dave4
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Post by dave4 on Feb 11, 2022 12:54:40 GMT
Yes but looks like it is only valid if this is your first investment on the platform so if you have invested in any other projects then its not valid. So no good for anyone but first timers to Qardus !! Is there anything to stop one opening a second account. eg in a family member's name? I won't stop you, and can't recall anything in TnC's.
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Steerpike
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Post by Steerpike on Feb 11, 2022 13:39:13 GMT
Always tempted by a bonus, but less than 10% for an unsecured loan? I am not familiar with this platform, but isn't this the type of loan that was common on REBS at 20% + and with an active SM?
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Greenwood2
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Post by Greenwood2 on Feb 11, 2022 14:54:41 GMT
Hard to say, only 9.93% of the target is met so far and another loan is 51.6%. I think the rate increase can attract a bit more funds, but I suspect most investors have already pledged the sum they are prepared to lend to a single loan. These last two loans are too large for the current Q "investorship". I'll be adding some due to the increase. I originally put less than my usual amount in this one because of the lower rate. I felt that the rate was marginal for an unsecured loan, but wanted to support Qardus since their loans have run very smoothly so far, and have been my best performing platform for over a year now. The XIRR on this will now be 19.5%, which is more in line with the risk in my view. I do think Q could have reduced their cut a bit to push the simple rate over 10% and the XIRR over 20%, which just looks better. I have little idea how loans on Q work so could you explain how you get an XIRR of 19.5% from a headline rate of 9.72%?
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Post by Ace on Feb 11, 2022 14:55:48 GMT
Always tempted by a bonus, but less than 10% for an unsecured loan? I am not familiar with this platform, but isn't this the type of loan that was common on REBS at 20% + and with an active SM?
Steerpike , if you're tempted at 10%, you'll probably be very happy when you calculate the true annualised return rate (XIRR). The key to understanding this is to examine the repayment mechanics. The loan is fully amortising over its length (36 months), but the simple interest is charged on the whole loan for the whole term. So, the true annualised return is double the quoted simple interest rate (because the average capital outstanding over the life of the loan is half the amount originally lent). If you qualify for QBoost (not invested on the platform before) then a £1k investment would get a 0.5% boost to your investment (so, £1,000 investment becomes £1,005). However, investments are only allowed in multiple of £100, so this is rounded up to a £1,100 investment (I.e. an actual 10% boost). A full XIRR calculation on the £1k investment, when including the £100 bonus, shows an annualised return of 27.37%. EDIT: crossed with Greenwood2 . Hopefully, this post answers your question, but feel free to PM me if not.
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trium
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Post by trium on Feb 11, 2022 15:58:47 GMT
Still unclear for me. I invested in the furniture loan, which is not yet live and may fall through. Would that make me ineligible for this offer, even though it may eventually become my first loan?
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Greenwood2
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Post by Greenwood2 on Feb 11, 2022 16:10:03 GMT
Always tempted by a bonus, but less than 10% for an unsecured loan? I am not familiar with this platform, but isn't this the type of loan that was common on REBS at 20% + and with an active SM?
Steerpike , if you're tempted at 10%, you'll probably be very happy when you calculate the true annualised return rate (XIRR). The key to understanding this is to examine the repayment mechanics. The loan is fully amortising over its length (36 months), but the simple interest is charged on the whole loan for the whole term. So, the true annualised return is double the quoted simple interest rate (because the average capital outstanding over the life of the loan is half the amount originally lent). If you qualify for QBoost (not invested on the platform before) then a £1k investment would get a 0.5% boost to your investment (so, £1,000 investment becomes £1,005). However, investments are only allowed in multiple of £100, so this is rounded up to a £1,100 investment (I.e. an actual 10% boost). A full XIRR calculation on the £1k investment, when including the £100 bonus, shows an annualised return of 27.37%. EDIT: crossed with Greenwood2 . Hopefully, this post answers your question, but feel free to PM me if not. I thought it was something like that. Q give an example for the loan in question, which I have tried to emulate, but I can't get the same numbers as they do from a simplified amortising or a fixed rate calculation. I was starting to wonder if the 'commodity murabaha agreement' was renewed periodically with a reduced principle. They get 11.15% annually but the numbers make no sense to me however I try to calculate it. Nice to get a first hand insight into what actually happens.
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Post by Ace on Feb 11, 2022 16:59:22 GMT
Steerpike , if you're tempted at 10%, you'll probably be very happy when you calculate the true annualised return rate (XIRR). The key to understanding this is to examine the repayment mechanics. The loan is fully amortising over its length (36 months), but the simple interest is charged on the whole loan for the whole term. So, the true annualised return is double the quoted simple interest rate (because the average capital outstanding over the life of the loan is half the amount originally lent). If you qualify for QBoost (not invested on the platform before) then a £1k investment would get a 0.5% boost to your investment (so, £1,000 investment becomes £1,005). However, investments are only allowed in multiple of £100, so this is rounded up to a £1,100 investment (I.e. an actual 10% boost). A full XIRR calculation on the £1k investment, when including the £100 bonus, shows an annualised return of 27.37%. EDIT: crossed with Greenwood2 . Hopefully, this post answers your question, but feel free to PM me if not. I thought it was something like that. Q give an example for the loan in question, which I have tried to emulate, but I can't get the same numbers as they do from a simplified amortising or a fixed rate calculation. I was starting to wonder if the 'commodity murabaha agreement' was renewed periodically with a reduced principle. They get 11.15% annually but the numbers make no sense to me however I try to calculate it. Nice to get a first hand insight into what actually happens. My explanation of their QBoost example numbers in blue: Projected return = 29.16% (9.72% simple interest for 3 years: 3 * 9.72% = 29.16%)
Total return (£) = £903.96 (Total return on boosted amount over 3 years: £3,100 * 29.16% = £903.96)
Total amount paid = £4,003.96 (Capital Invested (£3,000) + Total return (£903.96) + bonus (£100) = £4,003.96)
Total return (%) = 33.46% (£4,003.96/£3,000 = 1.3346, I.e. original investment plus 33.46%)
Annualised return = 11.15% (11.15% simple interest for 3 years: 3 * 11.15% = 33.46%)
So, a £3k investment would result in £4,003.96 being repaid in equal chunks of £111.22 per month for 3 years. Giving a total profit of £1,003.96. Note that some of the above figures appear to be in error by one in the last significant digit. This is because only 2 decimal places are shown for simplicity, but the full values were actually used in the calculations.
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dave4
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Post by dave4 on Feb 21, 2022 16:44:38 GMT
OFFER Closed. Bonus applied
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dave4
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Post by dave4 on Nov 21, 2022 17:58:17 GMT
Update. "voluntary liquidation" announced.
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Post by Ace on Nov 21, 2022 18:10:47 GMT
Looks bad. Accounts say Qardus is 1 of 24 unsecured creditors, and are owed £61,808.69 of the total £1,345,153.46 deficiency.
A total wipeout of outstanding capital on this loan would reduce my platform XIRR to 13.92% from its present 19.07%.
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