1) Get your money out of the holding account
It may sound obvious, but your money needs to be out on loan in order for you to earn a return – money in your holding account isn’t earning anything. At the last count, more than half of RateSetter investors have funds in their holding account, so check yours to make sure that you don’t have money sitting around doing nothing – even if it’s just a few pounds.
2) Consider lending for longer
Some people need easy access to their money, and that’s why we have a monthly product. However, many people don’t, and have a tendency to overestimate the likelihood that they’ll need to access their money. If you’ve been re-investing in the monthly product for a year for example, you could consider the extra return on the one year product (which has paid an average of 3.7% over the past 12 months, compared to 2.8% in the monthly product). For more information on accessibility see our guide to access.
3) Refer a friend
If you refer a friend to RateSetter and he or she puts in £500 or more, you’ll each get £50! Several of our lenders have earned hundreds of pounds from RateSetter referral incentives - to get started, head to the Earn Extra page and you'll be prompted to log in. You’ll see five ways to refer others, so pick the one that works best for you and you’re away.
Note: this offer ended on 31 October 2015.
RateSetter’s products are investments as opposed to savings, so don’t benefit from FSCS cover, although we do have a Provision Fund to help protect our investors. Capital is at risk, but with that risk comes substantially better returns.