jimbob
Member of DD Central
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Post by jimbob on Sept 29, 2015 13:52:56 GMT
Savingstream advertises 12% on their front page, but isn't 1% a month actually 12.68%  ? |
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SteveT
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Post by SteveT on Sept 29, 2015 14:34:09 GMT
Savingstream advertises 12% on their front page, but isn't 1% a month actually 12.68% ? Only if you opt to reinvest the monthly interest rather than drink the profits!
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sam i am
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Post by sam i am on Sept 29, 2015 15:42:11 GMT
Savingstream advertises 12% on their front page, but isn't 1% a month actually 12.68% ? It's 13.25% if you get cashback as well 
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arbster
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Post by arbster on Sept 30, 2015 11:21:51 GMT
Looks like SS might be holding off drawing down PBL59-61 until the monthly interest payments are made, in the hope people will lump it into the new loans.
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mikes1531
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Post by mikes1531 on Sept 30, 2015 20:26:55 GMT
Looks like SS might be holding off drawing down PBL59-61 until the monthly interest payments are made, in the hope people will lump it into the new loans. If the borrower isn't applying pressure, then SS might be willing to wait even longer than tomorrow for the loans to be completely funded, as that ought to reduce their underwriting costs -- though it's unknown how much u/ws get paid just to pledge funds vs. what they're paid to provide funds. OTOH, SS have to pay 12% interest out of their own pocket before drawdown, so perhaps we should expect it to be them that's pushing for drawdown ASAP.
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arbster
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Post by arbster on Oct 1, 2015 8:57:09 GMT
Having said they'll hold off til interest is paid, they don't seem to be in a rush to credit accounts for September.
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Monetus
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Post by Monetus on Oct 1, 2015 9:42:54 GMT
It's being credited now. Small parts are starting to trickle in.
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arbster
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Post by arbster on Oct 1, 2015 10:16:03 GMT
It's being credited now. Small parts are starting to trickle in. And an email to let us all know it's finished. They seemed to miss off the line that said "... and now please go and pump it all into PBL060."
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