Asked by Anonymous
Asked on 23 Apr 2019
I’ve been using Funding Societies the loans are being taken up and fully funded very easily (yes I’m already using auto-invest). Even if I manage to chip in, the investment amount tend to be very small (e.g $20-60) after dividing among all interested investors.
SeedIn is even worse in this aspect, with very few loans given they are even more cautious when handing out loans.
That’s why nowadays I only put a small amounts in, knowing uninvested amounts are just sitting there earning no interest.
Hey there! I’m Cass, the community manager from CoAssets.
P2P lending platforms are getting more popular these days as they give investors access to alternative investment opportunities that offer higher returns (as compared to the traditional financial products currently available).
I am unable to comment on behalf of the other platforms, however investors who pass CoAssets’ KYC process are NOT expected to put any funds (in the escrow account) beforehand. They only need to do so once they want to invest.
Unfortunately, this means that we may take a slightly longer time to close a deal (as investors will have to transfer funds each time they want to invest) 😞😞😞 BUT it means that your money is made to work even harder for YOU as it will not be sitting idle in the (non interest bearing) escrow account 😅😅😅
Hope this helped! :)