-
28-07-2017, 04:10 PM
#2481
Member
Originally Posted by JeremyALD
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.
-
28-07-2017, 04:13 PM
#2482
Member
Originally Posted by alistar_mid
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%.
-
28-07-2017, 07:44 PM
#2483
Member
Originally Posted by Cool Bear
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?
-
28-07-2017, 09:48 PM
#2484
Member
Originally Posted by kiwi_on_OE
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....
-
28-07-2017, 09:51 PM
#2485
Member
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.
-
28-07-2017, 10:01 PM
#2486
Member
Originally Posted by Cool Bear
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 09:34 AM.
Reason: for myles.
-
28-07-2017, 11:22 PM
#2487
yeah, nah
Originally Posted by IntheRearWithTheGear
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%.
-
29-07-2017, 07:42 AM
#2488
Member
Originally Posted by kiwi_on_OE
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%....
-
29-07-2017, 07:47 AM
#2489
Member
Beats me why so many new listings at the moment! Why not wait a week?
-
29-07-2017, 09:49 AM
#2490
Tags for this Thread
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks