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Post by GSV3MIaC on Jan 22, 2015 21:38:42 GMT
No - "read all the words" ("write on one side of the paper only"), you need to invest for a "minimum of a year", which I assume means in the yearly market (or 3 or 5) (maybe you'd get the splashback after a year of rolled over 1 month loans, but I sort of doubt it). 8>.
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Post by duncandive on Jan 22, 2015 22:45:52 GMT
Can you invest in the 1 month market and get 2.7% + the splashback? No 'fraid not, the blurb says the funds must be invested in the one year or above markets. And the cashback comes at the end of Feb
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adrianc
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Post by adrianc on Jan 23, 2015 9:44:22 GMT
So invest in the one year, receive cashback, sellout the contracts, get bounced back to monthly rate...?
(There's gotta be easier ways to make a hundred quid, though...)
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c88dnf
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Post by c88dnf on Jan 23, 2015 10:10:28 GMT
(There's gotta be easier ways to make a hundred quid, though...) Certainly are. Just switch your current account to one of the various banks offering a cash incentive to do so. Wait a few months then do it again. And again until the supply of incentives has been used up.
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Post by chielamangus on Jan 23, 2015 10:48:26 GMT
I just wonder why the oh-so-market-oriented RS does not allow market rates to rise to attract the lenders. This 1 per cent gimmick might deceive a lot of people into thinking they are getting an extra 1 per cent annual interest, which clearly they are not for 3 & 5 year loans.
Ah - I see I have answered my own question ....
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Post by davee39 on Jan 23, 2015 11:20:46 GMT
Where is the dislike button when you need it.
How about offering Nectar points when aspiring Low Net Worth Individuals lend a tenner.
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oldgrumpy
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Post by oldgrumpy on Jan 23, 2015 11:46:35 GMT
I just wonder why the oh-so-market-oriented RS does not allow market rates to rise to attract the lenders. This 1 per cent gimmick might deceive a lot of people into thinking they are getting an extra 1 per cent annual interest, which clearly they are not for 3 & 5 year loans. Ah - I see I have answered my own question .... You never got round to asking it You just wondered why! I also think some people will jump in, initially thinking 1% cashback is the same as 1% extra interest. If the 1 year rate goes to 4% it may be worth parking £5K for a while and taking the extra 1%.
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Post by accumul8 on Jan 23, 2015 11:53:10 GMT
Is the 1% splashback tax free? I think it is. In which case it is worth 1.25% for a BR taxpayer or 1.67/1.82% for a HR taxpayer - on top of 4% for a 1 year loan that starts to look attractive.
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Post by chielamangus on Jan 23, 2015 15:14:39 GMT
accumul8 Yes, the 1 year deal is the best choice if you can catch the wave. But as Darcy so famously said of Elizabeth Bennett .. not handsome enough to attract me. But it does depend on what else you have in your portfolio, and one's position and opinions can change. I'd still prefer a market solution rather than the trinkets which RS substitutes.
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Post by Deleted on Jan 23, 2015 15:55:39 GMT
I have to say I struggle to get excited about £100. You can get A+ mortgages on FC at 8% (Gross) interest only for 15 months with 1% back so more like 6.4% with 1% back at the start. Why would RS (which feels more Building Society like to me) go into the razzle-dazzle....
Say what you like the guys who are developing their business models in front of us are making a complex model more and more complex. Lovely.
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Steerpike
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Post by Steerpike on Jan 23, 2015 16:31:23 GMT
I have to say I struggle to get excited about £100. You can get A+ mortgages on FC at 8% (Gross) interest only for 15 months with 1% back so more like 6.4% with 1% back at the start. Why would RS (which feels more Building Society like to me) go into the razzle-dazzle.... Say what you like the guys who are developing their business models in front of us are making a complex model more and more complex. Lovely. Isn't that an argument for investing everything on FC rather than RS? I prefer to spread it about a bit.
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Post by Deleted on Jan 23, 2015 16:36:54 GMT
Me too, spread it around enough to keep the spend up. RS has its place in a portfolio of P2P, just find 4% hard to swallow.
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duck
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Post by duck on Jan 23, 2015 17:56:15 GMT
.... now since my monthly repayments come to about £5K I could chuck in £5K and withdraw the repayments, hmmm perhaps not what RS Towers had in mind ......
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Steerpike
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Post by Steerpike on Jan 23, 2015 19:23:29 GMT
.... now since my monthly repayments come to about £5K I could chuck in £5K and withdraw the repayments, hmmm perhaps not what RS Towers had in mind ...... With that sum invested RS must love you anyway.
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Post by wildlife2 on Jan 23, 2015 23:09:41 GMT
.... now since my monthly repayments come to about £5K I could chuck in £5K and withdraw the repayments, hmmm perhaps not what RS Towers had in mind ...... I wonder if RS Towers is the main nesting place of the Golden Goose
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