RateSetter is my favourite peer to peer lending company because they offer high lending interest rates on the money you lend as well as having an option to lend your funds for as little as a month. I thought I would let all my loyal readers know that they are offering cashback on new money invested from 1st July to 14th July.
You can get £25 cashback on an investment of £2500, £50 cashback on an investment of £5000 and £100 cashback on an investment of £10 000. I think this is a reasonably generous offer and has come back as lending rates are high due to lack of funds for borrowers. I am guessing the extra money added will mean more cash for borrowers and slightly reduced lending rates.
The money invested can go towards 1 year, 3 year and 5 year loans but not one month loans and the cashback will be paid within 28 days of the end of the offer, which means by the 14th August.
Are you a member of RateSetter? Will you be taking advantage of this offer? I have to say I have to decline as my funds are going other places right now.