RateSetter Account Information

RateSetter Account Information

Updated October 31st 2019

 

Detailed Account Information & Screenshots

First Investment Date          – June 2018

Initial Investment Amount  – £30,000.00

Total Added                          – £100.00 (cashback bonus)

Total Withdrawn                   – £2,130.00

Invested Currently               – £27,970.00

Current Account Balance   – £29,984.62

 

Total Return                         – £2,014.64

ROI% (per lender)                – 5.70% 

XIRR                                      – 5.22%

 

 

See My Full RateSetter Review Here

 

My RateSetter Actual Account Growth & Income Charts

 

RateSetter Account Growth Chart

RateSetter Monthly Income Chart

View Consolidated Monthly Investment Returns from All Lenders

 

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

 

October 2019 Monthly Update

 

RateSetter

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RateSetter rolled out their new “accounts” in October.  Their “Access” account which is basically replacing the rolling rate account, the “Plus” account which is replacing he 1 year and the “Max” account which is replacing the 5 year account. Although they say it is still possible to “set your own rates”, that appears to be a little far fetched as (from what I’ve seen) the rates just hover around 4.9% and 5.2% in the “Max” account (no doubt controlled by RateSetter).

So basically all they’ve done is set a 5% rate in stone for locking capital up for 5 years. Although it’s still worth it for diversification at 5%, just because of the size and safety of RateSetter. They are no longer leading the pack in my opinion. I’ve had my reinvestment settings at 5.4% (lower than the 5.7% I was previously getting filled at) for the whole of October, but nothing has yet been filled.

I’ve decided that I’m not willing to reinvest all of my capital in the account with them for less than 5.4% for 5 year terms, so if I start to get cash drag at 5.4%, I’ll be moving some money to Loanpad and Kuflink where I can get around 6% with good asset security, and in the case of Loanpad, with 60 day access to my money. I’ll still leave a good amount in RateSetter of course just for the safety and diversification.

All that being said, my XIRR actually increased a little bit from 5.14% in September to 5.22% in October. Obviously that’s because the new lower rates will take a long time to get everything reinvested, so at least we should continue to see the good numbers for now. 

 

RateSetter Signup & Cashback Offers

RateSetter is offering £100 cashback for investing £1000 for a year. 

Click here for more information on the cashback offer or to open an account >>>

 

RateSetter Account Screenshot 1 - October 2019 Update RateSetter Account Screenshot 2 - October 2019 Update RateSetter Account Screenshot 3 - October 2019 Update

 

 

 

September 2019 Monthly Update

 

RateSetter

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RateSetter rates appear to have dropped a bit again.  They were still hovering around 6% for most of August. However in September they seem to be maxing out at around 5.7%. I have had my lend orders in at 6.00% for a while now, but in September I got about £700 worth of cash drag by the end of the month. I am toying with bringing it down to about 5.7% but I’ll watch it for a few more days. It seems rates go in cycles and this time last year, rates on all lenders were down a bit.

My XIRR dropped a little bit because of the cash drag from 5.16% in August to 5.14% in September. No big deal. I’ll see what happens with the cash drag in September. I really don’t want to move money from RateSetter if I can help it, but when my XIRR at Loanpad is running 6.20% on low LTV assets secured loans, it’s hard to put money in to RateSetter at an XIRR of 5.14%.

On top of everything, RateSetter are introducing their new accounts in October which are looking like they’ll pay even less than the previous accounts. They are calling the new accounts “Access” which is basically replacing the rolling rate account, “Plus” which is replacing he 1 year and “Max” which is replacing the 5 year account. I’ll leave it at that for September as I want to see how they work in the real world before commenting further so I’ll do that next month.

 

RateSetter Signup & Cashback Offers

RateSetter is offering £100 cashback for investing £1000 for a year. 

Click here for more information on the cashback offer or to open an account >>>

RateSetter Account Screenshot - August 2019 Peer to Peer Lending Update 1

 

 

 

August 2019 Monthly Update

 

RATESETTER

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RateSetter Account Screenshot for Peer to Peer Lending Update - August 2019 1.1

RateSetter Account Screenshot for Peer to Peer Lending Update - August 2019 2

 

It appears that RateSetter rates were still hovering around 6% for most of August. Even though the screenshot below says 5.6% on the 5 year, that’s just an average for the month. I have my reinvestment rate set at 6.0% and I am getting very little cash drag so that’s really good news. My XIRR climbed above 5% for the first time to 5.16% which I’m happy with. When I first got in my rate was 5.2% so most of my 5 year investments are still at that level but getting reinvested at 6%.

The rates were down for a few months but for the last few they’ve been pushing above 6% which is very good for a large lender like RateSetter with a good provision fund. 

 

As you can see below, the averages have been climbing in the 3 year but stayed flat in the 5.

 

RateSetter Account Screenshot for Peer to Peer Lending Update - August 2019 3

 

RateSetter is an excellent option for diversification and safer lending with a big lender. RateSetter’s very well funded provision fund doesn’t hurt either. As rates are up around 6.0% again, now is a good time to get in if you were thinking about it.

RateSetter is offering £100 cashback for investing £1000 for a year (10% ON TOP OF standard returns, so even if you only want to invest £1k, you’ll get 16%+ back for the first year), it is definitely worth considering, especially if you can get in at the 6%+ level.

Click here for more information on the cashback offer or to open an account.

 

 

July 2019 Monthly Update

 

RATESETTER

See Full Review

RateSetter Account Screenshot for Peer to Peer Lending July 2019 Update 1.1

 

RateSetter rates were still rising in July. The rates were down for a few months but for the last couple they’ve been pushing above 6% which is very good for a large lender like RateSetter with a good provision fund. You can see in the screenshot above it’s sitting at 6.0% average on the 5 year. My reinvestment settings are still sat at 6% and are still getting filled at that level.

 

As you can see below, the averages have been climbing.

RateSetter Account Screenshot for Peer to Peer Lending July 2019 Update 2

RateSetter Account Screenshot for Peer to Peer Lending July 2019 Update 3

RateSetter is an excellent option for diversification and safer lending with a big lender. RateSetter’s very well funded provision fund doesn’t hurt either. As rates are up around 6.0% again, now is a good time to get in if you were thinking about it.

RateSetter is offering £100 cashback for investing £1000 for a year (10% ON TOP OF standard returns, so even if you only want to invest £1k, you’ll get 16%+ back for the first year), it is definitely worth considering, especially if you can get in at the 6%+ level.

Click here for more information on the cashback offer or to open an account.

 

 

 

 

June 2019 Monthly Update

 

 

RATESETTER

See Full Review

RateSetter Account Screenshot for June 2019 P2P Lending Update 1

 

Interesting story on RateSetter in June. For the last few months, RateSetter’s rates have been falling. You can see in the screenshot above it’s sitting at 5.4% average on the 5 year.

The first week in June, I got an email from RateSetter saying that I had a few loans repaid early. I logged on to my account to see about £8k in cash sat there waiting to be lent! I didn’t want to lend it out again in the low 5% area so I started to think about moving it. Then on the following Sunday, I logged in to my account to see rates kicking 6% again! So I quickly put in a lend order at 6% and my £8k got lent out. This had the effect of raising my RateSetter target rate from 5.50% to 5.70%!

I’ve mentioned in previous updates that RateSetter rates seem to climb at the weekend, so it’s really worth waiting if you have money to invest with them. Even in the data screenshot below you can see average rates have begun to rise again which is good news!

 

RateSetter Account Screenshot for June 2019 P2P Lending Update 2

 

As rates are rising again now, if you were thinking about investing in RateSetter, it’s a good idea to shoot some capital over to them so you can take advantage of the 6%+ “weekend blips” as and when they happen.

RateSetter is an excellent option for diversification and safer lending with a big lender. RateSetter’s very well funded provision fund doesn’t hurt either. 

RateSetter is offering £100 cashback for investing £1000 for a year (10% ON TOP OF standard returns, so even if you only want to invest £1k, you’ll get 15%+ back for the first year), it is definitely worth considering, especially if you can get in at the 6%+.

Click here for more information on the cashback offer or to open an account.

 

 

 

 

 

May 2019 Monthly Update

 

RATESETTER

See Full Review

RateSetter P2P Lender Account Screenshot for May 2019 Update 1

I decided to move more money out of RateSetter in May, and once again placed it (mostly) into Kuflink loans which I can get almost 7% on secured, shorter term loans.

The rates for RateSetter are still so low now, it’s no longer worth reinvesting my income from them back into these low rate loans. 5% returns on 5 year mostly unsecured personal loans is just getting a little low for me. It’s not terrible if you are really risk adverse as RateSetter is for sure one of the safer lenders, but I just like a little more reward for my risk.

This withdrawal also goes inline with my strategy to redistribute from some of my larger accounts for diversification. I will still leave a substantial investment with RateSetter.

All that being said, if RateSetter rates get back up around 6.5% as they were a few months ago, 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 continued to fall in May.

 

 

RateSetter Peer to Peer Lender Account Screenshot for May 2019 Update 3  RateSetter Peer to Peer Lending Account Screenshot for May 2019 Update 2

 

Even with lower rates, RateSetter is still an excellent option for diversification and safer lending with a big lender. RateSetter’s 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, so even if you only want to invest £1k, you’ll get 15%+ back for the first year), it is definitely worth considering. Click here for more information on the cashback offer.

 

 

 

 

April 2019 Monthly Update

 

RATESETTER

See Full Review

RateSetter Account Screenshot for April 2019 Update 1.1

RateSetter Account Screenshot for April 2019 Update 2

 

 

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 Account Screenshot for April 2019 Update 3 RateSetter Account Screenshot for April 2019 Update 4

 

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.

 

 

 

March 2019 Monthly Update

 

RATESETTER

See Full Review

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 😀

 

RateSetter Account Screenshot for March 2019 Update 1

 

 

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?

RateSetter Account Screenshot for March 2019 Update 3

 

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 Account Screenshot for March 2019 Update 2

 

 

 

February 2019 Monthly Update

 

RATESETTER

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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.

Ratesetter Account Screenshot for Feb 2019 Update

 

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 Rates Screenshot for Feb 2019 Update 1

 

 

 

 

January 2019 Monthly Update

 

RATESETTER

See Full Review

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 Account Screenshot for Jan 19 Update 1

RateSetter Account Screenshot for Jan 19 Update 3

 

 

 

December 2018 Update

 

RATESETTER

See Full Review

Ratesetter Account Screenshot for Dec 2018 Update 2

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 Account Screenshot for Dec 2018 Update 3

 

 

 

November 2018 Update

 

RATESETTER

See Full Review

  

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.

 

 

 

 

October 2018 Monthly Update

 

RATESETTER

See Full Review

Ratesetter Oct Update Account Screenshot 1

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.

Ratesetter Oct Update Account Screenshot 2

 

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.

 

 

 

 

September 2018 Monthly Update

 

RATESETTER

See Full Review

 

Ratesetter Account Screenshot 1 Oct 2018

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.

Ratesetter Account Screenshot 2 Oct 2018

Rates are up at 6.5% as of today (30th September).

 

 

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Prior to September 2018, no screenshots were published, however you can still see the full updates below:

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