Timeline for How to split my money in a P2P Lending site
Current License: CC BY-SA 4.0
9 events
| when toggle format | what | by | license | comment | |
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| Jun 8, 2019 at 4:10 | vote | accept | Leron | ||
| Jun 7, 2019 at 13:58 | comment | added | Pete B. | @Leron CD == Certificate of Deposit. Those are APRs expressed. | |
| Jun 7, 2019 at 13:47 | comment | added | Leron |
Does CD means Contract of Difference?
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| Jun 7, 2019 at 13:44 | comment | added | RonJohn | @Philipp no. I googled (should have done that first!) and found some high yield CDs. Not so much better than Ally Savings, though, to expend the effort. | |
| Jun 7, 2019 at 13:39 | comment | added | Philipp | @RonJohn Maybe Pete B. extrapolated the per-Annum interest rate from those short term loans? | |
| Jun 7, 2019 at 13:16 | comment | added | RonJohn | "2.4% interest rate on 3 month CDs". Where? Places like Ally only offer 0.75% on such short term CDs. | |
| Jun 7, 2019 at 12:29 | comment | added | Pete B. | Lending Club was terrible about collections. Even when their were late fees they kept them and did not pass them on to the lenders. They also seemed to do very little in attempts to collect. There was no guarantee. So yes, I lost both principle and profit. In the end, I made a little money but it involved a whole lot of time and effort. | |
| Jun 7, 2019 at 12:15 | comment | added | Leron |
Thanks for the answer. If possible can you elaborate on this: That the loans will be defaulted. because I really want to get this part right in order to make my decision. When we have 100% base guarantee and the loan defaulted, from my understanding this means that I will have some amount of X invested in this loan, and after 60 or 100 days I will get back my X units without any profit? Or are you talking about scenario where I actually lose this X amount too? And how this can happen if so?
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| Jun 7, 2019 at 12:07 | history | answered | Pete B. | CC BY-SA 4.0 |