We are constantly looking to improve the lending experience on RateSetter. A common request has been the ability to regularly draw down an income from your RateSetter loans, and specifically to withdraw interest on a regular basis. We are pleased to announce these new features are live on RateSetter.
From today you are able to select "Capital only" as your Reinvestment settings. If selected, only the capital amount from each repayment will be reinvested (the interest will be returned to your Holding Account.) If you select "All", both Capital and Interest from each repayment will be reinvested. To adjust your reinvestment settings log in and go to the Reinvestment page.
The new "Auto-Withdrawal" feature allows you to schedule automatic transfers from your RateSetter Holding Account to your bank account. You can set this up on a weekly or monthly basis, and choose a set amount or the entire balance. To set up the Auto Withdraw feature log in and go to the Withdrawal page, and click through to the Auto Withdrawal page.
RateSetter continues to take on board your suggestions and we are extremely grateful for your continuing feedback. We hope you find this feature a useful improvement to the RateSetter experience.
All the best,
The RateSetter Team