Hardly any interest being credited on GBBA loans

You really need to give it a full month before you can have a real understanding about what interest you are getting. So if you finished investing on say 20 October, you need to wait until 20 November before you know what interest you will be getting over a month.

The nature of these investment is that they will be be lumpy and will not pay equally on each day. The amount that you get from the GBBA on each day depends on which of the underlying loans are due to pay interest on that day. If by chance the majority of you investments went into loans which all paid around the middle of the month, you would not be seeing much interest for the rest of the month.

investibod:  I think that in your example you'll find you'd have to wait longer than 20/Nov.  If the payment date of a loan is the 21st of the month, then the interest received on 21/Oct for an investment made on 20/Oct would be only one day's worth.  So you're really need to look at the interest received between 20/Nov and 20/Dec.

Also, what about development loans that pay interest upon maturity rather than monthly?  Are those eligible to be included in the GBBA?  If so, the monthly interest received won't produce an accurate AER.

If you want to know how much interest you've earned, it's the difference between your account balance and the amount of money you've transferred into the account (net of any withdrawals). 

If you want to know what rate of interest you've been earning, that's a lot harder to work out.  But it can be done with a downloaded transaction statement and Excel's XIRR function.

A quick update while I'm having a few minutes wakey wakey time from hibernation.

My current yearly interest rate of the GBBA is 6%. This is based on interest received from 1st Nov to 12th Jan 2017 ie today. I've not put anymore cash in the GBBA, although that's not for want of trying. . . .Gave up today and stuck it all in the 30 day after having it hanging around for the last 2 weeks and not being able to shift a penny.

While 6% isn't 7%, I'll take it in the current climate.

I doubt whether loans that don’t pay interest monthly are GBBA-eligible. I’ve acquired parts of more than 30 loans in my GBBA account in less than three months, and every one of them is scheduled to make interest payments monthly (and all but one has).

It’s possibly worth pointing out that the return advertised for the GBBA is a 7% annualised rate, and with interest being paid monthly that equates to a monthly interest rate of 6.79%, not 7%.

#174 did pay monthly interest but is now in default hence why no monthly interest is currently being paid. Accumulating interest may be paid on sale of the asset from sale proceeds or possibly from the PF.