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Post by davidal on Jun 23, 2016 9:43:34 GMT
I came across P2P lending via advice from another forum but I'm not really sure how it all works. For example, on Twino there are 1 month loans with 10% returns. Does this mean if I invested £1000 on loans like this I could make £100 in interest for the month? Seems too good to be true, but I'm not sure how bank interest etc. works.
Sorry for the very silly question!
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jun 23, 2016 9:48:01 GMT
No, that'll be £100 in the year. Saving Stream (and others) will offer 1% a month, which mounts up to a bit over 12% (about £120) if left in for a year. PS Don't be sorry about asking questions  |
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Post by nutfield on Jun 27, 2016 11:10:09 GMT
Although I am not a complete novice, I would value some advice from the more experienced members. I have some money with Ratesetter because of its "safe" reputation and because I understand the platform. If I wanted to diversify to other platforms where would members suggest I go if I wanted investment at the "safer" end of the spectrum of risk. Any thoughts from the more experienced sages?
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jun 27, 2016 12:02:42 GMT
Zopa has the longest track record, protected funds (unless you want to go for the riskier plus account) and survived the 2008/9 difficulties, so should survive the latest ones.
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Post by GSV3MIaC on Jun 27, 2016 15:05:14 GMT
Another possibility is the GBBA fund at AC (7%, 'sort of' protected), or the FCIT investment trust which you can hold inside an ISA (stocks and shares ISA that is), which also has a target yield of 7% (but has some leverage, so some potential extra risks). Depends on the overall attitude to risk and how much time/effort you want to put in. There are higher rates available, but they are not 'fire and forget' options.
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