RateSetter Account Information
Updated May 1st 2019
Detailed Account Information & Screen Shots
First Investment – June 2018
Initial Investment – £30,000.00
Total Invested – £29,000.00
Total Return – £1,210.35
ROI% – 5.50%
XIRR – 4.86%
My RateSetter Actual Account Growth & Income Charts
Each month I send out an update on all of my Peer to Peer lending accounts. Below are the excerpts specific to RateSetter. Click here for all lender updates
As you can see in the above screenshot, I moved £1000 out of RateSetter in April and placed it (mostly) into Kuflink loans. This was because the rates for RateSetter have become so low now, it’s no longer worth reinvesting my income from them back into these low rate loans. 5% returns on 5 year unsecured personal loans is just getting a little low for me. On top of that, now I’ve become more experienced with lenders like Kuflink, I intend to diversify some of my capital with them from these relatively large accounts that I have going with the big boys.
All that being said, if RateSetter rates get back up around 6.5% as they have been, you might see some of my capital migrate back over there 🙂
Below is a screenshot of RateSetters current rates and rate trends. You can see they have been falling for some time now.
RateSetter is still an excellent option for diversification and safer lending with a big lender. RateSetters’ very well funded provision fund doesn’t hurt either. Use this link to take advantage of a very decent cashback offer. RateSetter is offering £100 cashback for investing £1000 for a year (10% ON TOP OF standard returns), it is definitely worth considering. Click here for more information on the cashback offer.
Income from RateSetter this month was £128.11. A little less than the previous couple of months but still very respectable. I have no idea why some months are more or less with RateSetter as they have their provision fund so there is very little exposure to defaults. I’m guessing though it’s to do with when payments are made from borrowers and also when repaid funds get reinvested at my preset rate. I know this can cause a bit of cash drag but I like to wait for the rates to come up to me instead of just taking the market rate.
RateSetter have also done a total revamp of their website and marketing materials. Not sure if it’s better or worse, but it certainly is purple 😀
Not sure what happened over the last few days but it looks like RateSetters rates have leveled out. Maybe it’s just due to the website update they did?
Either way they are still matching rates at above 6% so it’s still certainly not a bad time to get in if that’s what you’re looking to do. Use this link to take advantage of a very decent cashback offer. RateSetter is offering £100 cashback for investing £1000 for a year (10% ON TOP OF standard returns), it is definitely worth considering. Click here for more information on the cashback offer.
Ratesetter are one of my biggest accounts and they are likely to stay that way for the foreseeable future. Easy “fire and forget” investment with one of the largest P2P lenders in the UK.
Still seeing rates up to 6.3% in February, so still a good time to get in if you’re looking to diversify to one of the larger, safer UK lenders. That coupled with the very decent cashback offer RateSetter is having right now of £100 cashback for investing £1000 for a year (10% ON TOP OF standard returns), it is definitely worth considering. Click here for more information on the cashback offer.
Once you’ve opened a RateSetter account, I would suggest looking back at rates for the last month and setting a rate near the high. I notice that rates seem to climb higher at weekends for some reason so don’t be too eager to take a lower rate. Wait a while and see if they come up at the weekend to the top rates.
RateSetter is one of the lenders I would use if I were only going to use two or three lenders for safe investments. They are a safe, fair, profitable lender offering very reasonable returns for a relativity safe investment. RateSetter rates have been climbing higher recently.
And if you’re looking to start investing with RateSetter, now is a great time to do so! Rates in January hit 6.3% (I actually saw 6.5% for a little while), so getting in now certainly wouldn’t be a terrible idea. That coupled with the awesome cashback offer RateSetter is having right now of £100 cashback for investing £1000 for a year, it seems to me you can’t go wrong! Click here for more information on the cashback offer.
When I originally invested with RateSetter with this portfolio in June 2018, I only manged to get a rate of 5.4% which in hindsight now was not great. Although my rate has since climbed to 5.5% because of reinvesting repayments at a higher rate, I still wish I could have got the 6.3% – 6.5% we are seeing now. See my RateSetter Review for more information on why I like them so much.
Ratesetter – set it, forget it. Not much more to say about them. You really have to look at the rate trends to see what’s available when you add new capital though. You can see below that the average over the last 3 months on the 5 year has been 6.0%, however it is currently filling orders at 5.8%. I have noticed at weekends rates seem to creep up a bit, so when you are adding new cash, sometimes it can be worth waiting a few days to see if you can get a better rate.
Ratesetter AKA “Old Faithful” keeps on delivering with the safety of a fairly large company. For the last couple of months there have been 6%+ rates available for new investors, which is really good considering the size of the company and also their provision fund. For anyone looking to invest in P2P, surely Ratesetter has to be in your portfolio! If you would like to see my recommendations for the top lenders in various categories, signup for my complementary Top Lenders List.
Instead of setting my reinvestment capital to go back in at the market rate, I have been trying to capture some of the higher rates. Unfortunately that meant I had a few hundred £ sat there waiting for a couple of weeks so a little bit of cash drag.
RateSetter’s rates continue to rise. I got in at 5.4% back in June when I reset my portfolio. Over this last weekend I saw rates of 6.7% which is very good for a large lender like RateSetter. I set my reinvest rate to 6.7% to see if I can get that rate on funds repaid from other loans and reinvested. I’ll keep my eye on it and move the rate as needed.
Here is a screenshot of RateSetters rate table for the last few days.
As you can see, there was a possibility of getting around 5.3% on a 1 year loan last weekend. Kind of annoying when I got 5.4% locked in for 5 years, but that’s the way lending goes.
Ratesetter rates have been climbing significantly lately. When I first invested with this portfolio I thought I was lucky getting 5.4% as rates had been trading below 5% for a while. Now people are seeing 6.3%+ which is a great rate for a lender as large and well established as Ratesetter. I have my reinvest rate set at 6.3% now and it keeps getting filled so I’ll watch it and keep increasing it as needed.
Rates are up at 6.5% as of today (30th September).
Prior to September 2018, no screenshots were published, however you can still see the full updates below: