benaj
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Post by benaj on Apr 13, 2019 7:09:06 GMT
interest paid "daily"
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Interest
Aug 17, 2019 14:00:05 GMT
via mobile
Post by gravitykillz on Aug 17, 2019 14:00:05 GMT
Considering moving my funds to the lending works 'flexible' product with no notice period. It pays 5% and gives fee free withdrawal. Loanpads 5% interest and 60 days notice just does not seem worth it anymore. Anyone disagree ?
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IFISAcava
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Post by IFISAcava on Aug 17, 2019 15:17:24 GMT
Considering moving my funds to the lending works 'flexible' product with no notice period. It pays 5% and gives fee free withdrawal. Loanpads 5% interest and 60 days notice just does not seem worth it anymore. Anyone disagree ? I use both for platform diversity, and because they are different types of lending
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benaj
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Post by benaj on Aug 17, 2019 15:22:47 GMT
Loanpad classic is similar to AC QAA, except interest is paid daily. I love loanpad's liquidity although it is not guaranteed. While Loanpad premium requires 60 days for free withdrawal, and earns daily interest.
LW flexible is totally different, it's more like Zopa's rolling @ 5% + shield protection without selling fee. When the loan is sold, no accrued interest is paid on LW. So, selling a LW loan after holding 15 days before repayment date would gain no interest in theory.
For those choosing to invest for 75 days, Loanpad premium earns 75 days interest, but LW flexible would probably earns 60 days instead.
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qwakuk
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Post by qwakuk on Feb 18, 2020 15:08:58 GMT
Rehashing an old thread.
Signed up recently and put £1,000 in and earning 13p daily. Does it automatically get reinvested when it reaches £10 as I have autoinvest turned on ?
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archie
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Post by archie on Feb 18, 2020 16:22:13 GMT
Rehashing an old thread. Signed up recently and put £1,000 in and earning 13p daily. Does it automatically get reinvested when it reaches £10 as I autoinvest turned on ? Yes. Extract from the email when this was implemented :-
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