Squirrel Money P2P

[Saamee]

Well 9% is the max rate so you're doing pretty well.

You have to wait until there's not many bids in the market so that when the next loan comes in you get matched at the highest rate. You might have to wait a while for this though, as you'd need a high enough volume of loans to come through to clear out all those bids

Thanx Kelvin,

I split my investment dollars and put bids in @ 8.75% \ 8.8% \ 8.85% \ 8.9% & 8.95%

They still got the higher rate of 8.95%!

[Kelvin]

Personally I put in $500 at a time. So if rates are poor at the time that's only $500 being invested at a poorer rate, or if no loans are coming through, I only have $500 being idle.

In the medium term I hope to achieve an average return of at least 8.5% (currently I'm at around 8.7%)

[Saamee]

Personally I put in $500 at a time. So if rates are poor at the time that's only $500 being invested at a poorer rate, or if no loans are coming through, I only have $500 being idle.

In the medium term I hope to achieve an average return of at least 8.5% (currently I'm at around 8.7%)

Exactly - If you work out the annual interest income between say 8.75% and 9% you may as well just get invested at 8.75.... and not wait around.

Still better than the 0.6% interest ASB pays me in their Savings on Cal!!

[Saamee]

Good question. We should make that clearer. We're in the process of doing some videos to explain the bidding process better.

Hi JB, Can you post a link to these Videos - As a Squirrel newbie this may stop me asking Charles questions every day!

[Saamee]

Hi again JB,

Can you post an update on the current status of the Reserve Fund?

Have you concluded your 1st year now ( where you were putting in 4% ? )

What is the actual current Loss Rate?

Thanx

[Kelvin]

Hi again JB,

Can you post an update on the current status of the Reserve Fund?

Have you concluded your 1st year now ( where you were putting in 4% ? )

What is the actual current Loss Rate?

Thanx

Section 4 of this page might help you saamee? https://www.squirrelmoney.co.nz/look...er-your-money/

[morphs]

Section 4 of this page might help you saamee? https://www.squirrelmoney.co.nz/look...er-your-money/

Do you know if the value of the reserve fund is before or after the current value of the write offs?

[Kelvin]

Do you know if the value of the reserve fund is before or after the current value of the write offs?

After write offs

[humvee]

After write offs

That makes sense - but is it before or after arrears - given that arrears has presumably had to be paid from the reserve fund in the mean time

[Saamee]

Today it's Squirrel Money's turn for making the Press!

http://www.interest.co.nz/business/8...takers-licence