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Thread: Harmoney

  1. #2481
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    Quote Originally Posted by JeremyALD View Post
    Why would you lend out for 6.99% interest less fees? That's a terrible rate of return!
    less 15% is 5.94%. But still better than most term deposits - just not as secure.

  2. #2482
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    Quote Originally Posted by alistar_mid View Post
    Hit $10k interest woooooooo

    Attachment 9036

    Still gonna keep withdrawing to I get down to about $50k and then set up some auto lends
    Well done! with an RAR of 16.15% too. When I hit $10k interest, my RAR was only 14%.

  3. #2483
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    Quote Originally Posted by Cool Bear View Post
    less 15% is 5.94%. But still better than most term deposits - just not as secure.
    6.99% for an unsecured loan does seem pretty attractive, for a borrower. Can you get that anywhere else? Even on secured loans?

  4. #2484
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    Quote Originally Posted by kiwi_on_OE View Post
    6.99% for an unsecured loan does seem pretty attractive, for a borrower. Can you get that anywhere else? Even on secured loans?
    Yeah, it cross my mind earlier today that I should get $70,000 at 6.99% and invest it....

  5. #2485
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    Yes agree. Furthermore the length of time it will take to migrate new into old, we won't actually know for 12 mths +.
    I think they should begin new analysis alongside old so we know where we're at.

  6. #2486
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    Quote Originally Posted by Cool Bear View Post
    less 15% is 5.94%. But still better than most term deposits - just not as secure.
    Umm, the 5.94% is quoted per year, and the 15% fee is when received (and with the power of compounding interest etc ) - so its incorrect to subtract 0.15 from 5.94.

    A single loan is actually worth 0.03% over the duration of the loan.

    10k at 6.99% Interest Rec H fee 15%
    Aug. 2017 $197.96 $139.71 $58.25 $8.74
    Sept. 2017 $197.96 $140.53 $57.44 $8.62
    Oct. 2017 $197.96 $141.35 $56.62 $8.49
    Nov. 2017 $197.96 $142.17 $55.79 $8.37
    Dec. 2017 $197.96 $143.00 $54.97 $8.25
    Jan. 2018 $197.96 $143.83 $54.13 $8.12
    Feb. 2018 $197.96 $144.67 $53.30 $8.00
    Mar. 2018 $197.96 $145.51 $52.45 $7.87
    Apr-18 $197.96 $146.36 $51.60 $7.74
    May-18 $197.96 $147.21 $50.75 $7.61
    Jun-18 $197.96 $148.07 $49.89 $7.48
    Jul-18 $197.96 $148.93 $49.03 $7.35
    Aug. 2018 $197.96 $149.80 $48.16 $7.22
    Sept. 2018 $197.96 $150.67 $47.29 $7.09
    Oct. 2018 $197.96 $151.55 $46.41 $6.96
    Nov. 2018 $197.96 $152.43 $45.53 $6.83
    Dec. 2018 $197.96 $153.32 $44.64 $6.70
    Jan. 2019 $197.96 $154.21 $43.75 $6.56
    Feb. 2019 $197.96 $155.11 $42.85 $6.43
    Mar. 2019 $197.96 $156.02 $41.95 $6.29
    Apr-19 $197.96 $156.92 $41.04 $6.16
    May-19 $197.96 $157.84 $40.13 $6.02
    Jun-19 $197.96 $158.76 $39.21 $5.88
    Jul-19 $197.96 $159.68 $38.28 $5.74
    Aug. 2019 $197.96 $160.61 $37.35 $5.60
    Sept. 2019 $197.96 $161.55 $36.42 $5.46
    Oct. 2019 $197.96 $162.49 $35.48 $5.32
    Nov. 2019 $197.96 $163.44 $34.53 $5.18
    Dec. 2019 $197.96 $164.39 $33.58 $5.04
    Jan. 2020 $197.96 $165.35 $32.62 $4.89
    Feb. 2020 $197.96 $166.31 $31.66 $4.75
    Mar. 2020 $197.96 $167.28 $30.69 $4.60
    Apr-20 $197.96 $168.25 $29.71 $4.46
    May-20 $197.96 $169.23 $28.73 $4.31
    Jun-20 $197.96 $170.22 $27.75 $4.16
    Jul-20 $197.96 $171.21 $26.76 $4.01
    Aug. 2020 $197.96 $172.21 $25.76 $3.86
    Sept. 2020 $197.96 $173.21 $24.76 $3.71
    Oct. 2020 $197.96 $174.22 $23.75 $3.56
    Nov. 2020 $197.96 $175.23 $22.73 $3.41
    Dec. 2020 $197.96 $176.25 $21.71 $3.26
    Jan. 2021 $197.96 $177.28 $20.68 $3.10
    Feb. 2021 $197.96 $178.31 $19.65 $2.95
    Mar. 2021 $197.96 $179.35 $18.61 $2.79
    Apr-21 $197.96 $180.40 $17.57 $2.64
    May-21 $197.96 $181.45 $16.52 $2.48
    Jun-21 $197.96 $182.50 $15.46 $2.32
    Jul-21 $197.96 $183.57 $14.40 $2.16
    Aug. 2021 $197.96 $184.64 $13.33 $2.00
    Sept. 2021 $197.96 $185.71 $12.25 $1.84
    Oct. 2021 $197.96 $186.79 $11.17 $1.68
    Nov. 2021 $197.96 $187.88 $10.08 $1.51
    Dec. 2021 $197.96 $188.98 $8.99 $1.35
    Jan. 2022 $197.96 $190.08 $7.89 $1.18
    Feb. 2022 $197.96 $191.18 $6.78 $1.02
    Mar. 2022 $197.96 $192.30 $5.67 $0.85
    Apr-22 $197.96 $193.42 $4.55 $0.68
    May-22 $197.96 $194.55 $3.42 $0.51
    Jun-22 $197.96 $195.68 $2.29 $0.34
    Jul-22 $197.96 $196.82 $1.15 $0.17
    $1,877.91 $281.69
    xirr
    1-Aug-17 10000 -10000
    31-Jul-22 $11,596.22 $11,596.22
    3% return over 5 years



    but then again maybe im wrong ?
    Last edited by IntheRearWithTheGear; 29-07-2017 at 08:34 AM. Reason: for myles.

  7. #2487
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    Quote Originally Posted by IntheRearWithTheGear View Post
    but then again maybe im wrong ?
    This...

    As many seem to do here, you have not taken into account reinvestment of return of the principal. Your calculation is not investing 10,000 for the entire time, only for the first month, the second month you are investing 10,000 - 197.96, third month 10,000 - (2 x 197.96) ... last month only 197.96. You have all that capital to reinvest along the way.

    If you reinvest, you will be left with the 10,000 still invested at the end, but your monthly return for every month is $58.25 - $8.74 = $49.51 for 60 months - $2,970.60. Which is 29.71% over the 5 years or 5.94% pa.

    If you reinvest the interest as well then it will be ... $3,450 which is 6.9% pa... (not including losses due to tax or defaults)

    If you don't want to reinvest, then that's a different calculation again, but it wont be 3%.

  8. #2488
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    Quote Originally Posted by kiwi_on_OE View Post
    6.99% for an unsecured loan does seem pretty attractive, for a borrower. Can you get that anywhere else? Even on secured loans?
    Five year fixed mortgage maybe 6%....

  9. #2489
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    Beats me why so many new listings at the moment! Why not wait a week?

  10. #2490
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    Due to the competition that they are running on the front of the website perhaps ?

    Says to me left hand not speaking to the right hand - ie marketing dept with strategic direction.

    Why run a comp when your weeks away from changing the rates - all the new "johns" will be on original rates and may wish to swap - unless thats the plan.


    Remind me never to borrow money from you myles - as one of us is going to be disappointed at the end of 5 years.
    Last edited by IntheRearWithTheGear; 29-07-2017 at 08:56 AM.

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