P2P Money Blog

One of the leading peer-to-peer companies in the UK, RateSetter, have announced a new cashback offer from 1st July for new and existing lenders.  New lenders are able to earn an additional £25 for signing up through the P2P money cashback site.

This has generated some discussions on the P2P Independent Forum which are an interesting read.

Here is the email send to existing lenders:

Unprecedented demand for borrowing has driven lending rates to very high levels, providing you an excellent return on your investment.

If that wasn't enough reason to invest more we are giving all our lenders the added incentive of cashback.

We've also listened to your feedback following our last cashback offer. To help you organise your additional investment, we're giving you plenty of time. The offer starts on 1st July.

Cashback offer:

• Invest an additional £2,500 and earn £25 cashback
• Invest an additional £5,000 and earn £50 cashback
• Invest an additional £10,000 and earn £100 cashback

What you need to know

• This offer is limited to a two week period, so don't miss out
• You need to commit the additional deposited funds for at least 1 year to benefit from this offer
• Please remember that your returns are before tax, assumes you reinvest throughout the term and assumes coverage from the RateSetter Provision Fund now standing at over £14m
• Capital is at risk and your money is not covered by the Financial Services Compensation scheme

Here are the full terms and conditions:

1. Offer valid from 00:01 on 1st July 2015 and ends 18:00 on Tuesday 14th July 2015.
2. Lending orders not completed before the deadline will not be eligible for the offer.
3. In order to be eligible for cashback, the additional funds must be committed to a lending term of 1 year or longer.
4. Maximum cumulative cashback per customer is £100.
5. We will credit your account with the cashback bonus within 28 days from the end of the promotion.
6. Cashback can be used for lending or can be withdrawn.
7. Sell-out requests made during the promotional period cannot be reinvested in order to receive the promotional bonus.
8. Contracts repaid during the promotional period will still be valid for the promotion.
9. The member-get-member promotion can be used in conjunction with this cashback offer so feel free to introduce a friend to RateSetter and you can both benefit.
10. RateSetter reserve the right to retain the cashback earned in connection to a Sell-out request during this promotion.