What is RateSetter?

RateSetter acts as middle ground between creditworthy borrowers who want a low cost loan and smart savers who want a better return on their cash by using peer to peer lending. Borrowers state how much money they need and set the maximum interest rate they’re happy to pay. Savers (or lenders) state how much money they want to invest and the interest they’re happy to receive. And RateSetter simply matches these parties up. This makes RateSetter a peer-to-peer lender and NOT a bank or building society that lends out its own money and sets its own interest rates.

    • Provider/Product name 5 Year market

      RateSetter

      5 Year market

    • Expected annualised rate after fees and bad debt 5.00% fixed
    • More details

      You lend to… Real people (RateSetter has checked they're creditworthy)
      When do I earn interest? Only once money is lent, though if you select 'market offered rate' this is usually quick
      Can I withdraw money before term ends? Yes - but you'll be subject to pay SellOut fees
      Provision fund? Yes, £16.3 million as of November 2015
      How much can I save? From £10 to no maximum (although RateSetter may limit the amount an individual can invest in any single market)
      Founded in 2010

    • Go to site

    Great for
    Short term access to your money
    Simple P2P lending. RateSetter match your funds for you - just how a bank operates
    No lender fee applies
    But be aware that
    You can access your money (called 'sell out') at any time so long as there is another lender to take your place. The rate you earn will be reduced if you sell out before the full term and a fee may apply, refer to provider for full details
    Your savings are not protected by the FSCS compensation scheme
    To invest with RateSetter you must be aged 18 or over and have a UK bank account

    Peer-to-peer lending can offer potentially attractive returns. There is a risk you may lose some or all of your initial investment as it is not protected by the Financial Services Compensation Scheme, although many lenders do offer their own compensation packages.  Please first read our peer-to-peer guide below to see if this product is right for you.

    • Provider/Product name 1 Year market

      RateSetter

      1 Year market

    • Expected annualised rate after fees and bad debt 4.20% fixed
    • More details

      You lend to… Real people (RateSetter has checked they're creditworthy)
      When do I earn interest? Only once money is lent, though if you select 'market offered rate' this is usually quick
      Can I withdraw money before term ends? Yes - but you'll be subject to pay SellOut fees
      Provision fund? Yes, £16.3 million as of November 2015
      How much can I save? From £10 to no maximum (although RateSetter may limit the amount an individual can invest in any single market)
      Founded in 2010

    • Go to site

    Great for
    Short term access to your money
    Simple P2P lending. RateSetter match your funds for you - just how a bank operates
    No lender fee applies
    But be aware that
    You can access your money (called 'sell out') at any time so long as there is another lender to take your place. The rate you earn will be reduced if you sell out before the full term and a fee may apply, refer to provider for full details
    Your savings are not protected by the FSCS compensation scheme
    To invest with RateSetter you must be aged 18 or over and have a UK bank account

    Peer-to-peer lending can offer potentially attractive returns. There is a risk you may lose some or all of your initial investment as it is not protected by the Financial Services Compensation Scheme, although many lenders do offer their own compensation packages.  Please first read our peer-to-peer guide below to see if this product is right for you.

    • Provider/Product name Rolling market

      RateSetter

      Rolling market

    • Expected annualised rate after fees and bad debt 3.10% variable
    • More details

      You lend to… Real people (RateSetter has checked they're creditworthy)
      When do I earn interest? Only once money is lent, though if you select 'market offered rate' this is usually quick
      Can I withdraw money before term ends? Yes
      Provision fund? Yes, £16.3 million as of November 2015
      How much can I save? From £10 to no maximum (although RateSetter may limit the amount an individual can invest in any single market)
      Founded in 2010

    • Go to site

    Great for
    Short term access to your money
    Simple P2P lending. RateSetter match your funds for you - just how a bank operates
    No lender fee applies
    But be aware that
    You can access your money (called 'sell out') at any time so long as there is another lender to take your place
    Your savings are not protected by the FSCS compensation scheme
    To invest with RateSetter you must be aged 18 or over and have a UK bank account

    Peer-to-peer lending can offer potentially attractive returns. There is a risk you may lose some or all of your initial investment as it is not protected by the Financial Services Compensation Scheme, although many lenders do offer their own compensation packages.  Please first read our peer-to-peer guide below to see if this product is right for you.

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