Your interest is calculated daily, this calculation is based on the amounts that you have invested in live loans.
As your investment level increases you automatically move to a higher target rate of interest.
The Target Rates below are the average rate across the rate ranges on our loans for each category.
Premium: £100 to £19,999.99 = target 5.4 - 5.7% p.a.
Premium Plus: £20,000 to £99,999.99 = target 6.35 - 6.7% p.a.
High Net Worth: £100,000 + = target 7.3 - 7.7% p.a.
To calculate an estimate of the amount of interest you will receive each month for your investment, first check which target rate your investment should receive based on the above rates.
If you had £20,000 invested with us your target rate would be around 6.52% per annum (p.a.), which means per year.
Your interest therefore would be 6.52% of £20,000 divided by 365 and then times the number of days in that month.
Please note
The rate is a target as there may be times when you aren’t earning interest on the full amount that you have invested. This is usually when your investment is waiting to be allocated to a loan, or when a loan it has been allocated to hasn’t yet gone live. The target rate is also subject to the risk ratings of the loans that you are invested in. Lower risk loans earn a lower rate.
To find out more about the rate ranges, please read the below article:
Tell me more about the rate ranges
To find out about the actual rate of return, please click below:
What is the Actual Rate of return?