Following the Covid-19 outbreak and the current economic environment, RateSetter announced on 4 May a temporary reduction in interest for the remainder of the year. During this time, investors will receive only 50% of their interest with the other 50% going to the Provision Fund, for the protection of all investors.  Also, since the outbreak, the time it is taking investors to release their investments is currently longer than normal. Further information is available here. 

Investors' FAQs

1. Investing and Account Management

You can deposit funds in your Everyday Holding account and your ISA Holding account using a debit card or bank transfer.

You can transfer funds into your ISA account from the Everyday account too.  Please see our ISA FAQs section for further information.

Any funds added to your Holding account will stay in the Holding account until you decide to invest them.  Funds in the Holding account do not earn interest.

When making a new investment, you simply sign into your account and select Invest.  Then enter the amount you’d like to invest and select the product you’d like to invest in.

You can choose to invest at the Going Rate available or set Your Rate (lower or up to 5 percentage points higher than the Going Rate).

This can vary according to the supply of money from investors and the demand from borrowers.  Offers to lend at the Going Rate are typically matched to a borrower within hours.  Offers to lend at rates higher than the Going Rate can take longer.

Yes, you can set up a Direct Debit to invest into the market for the Everyday Account using the Auto Invest option. This option is not currently available for the ISA Account.

You can request to release your investments at any time. We will process any requests as soon as there are funds on the market to take over your investment. Instant access is not guaranteed.

You can release invested funds by logging into your account and selecting Withdraw.

There is no fee to releasing funds from Access.  The Release Fee for Plus is calculated as 30 days of interest at the Going Rate and the Release Fee for Max is calculated as 90 days of interest at the Going Rate.

Unfortunately, we are not able to release funds from contracts under £10. This is because when you release your investment from a loan contract, another investor is matched to it and £10 is the minimum amount that can be invested.


£10 is the minimum amount that can be invested.

When you receive repayments of capital and interest, they are allocated to your Holding account for a short period of time before being reinvested.

The capital and interest from a repayment are reinvested separately so sometimes you might notice a small amount of money (this is usually interest) remains in your Holding Account until it reaches £10 and is reinvested (£10 is the minimum amount that can be invested).  

Please note that repayments that appear in the Holding Account are market specific.  These funds will wait in your holding account for more repayments to be made from the same market, until the total repaid from each market is £10 or more.  Once this has been achieved, the funds will automatically act in accordance with your reinvestment options.


You can view your account transactions by logging into your account and selecting the Transaction History option.  Please note that the webpage will only display 5,000 transactions at one time.

Customised balance statements can be provided by the Investor Services Team.  Please contact us on 020 3142 6226 or [email protected] and provide the details that you need to be covered in the statement.

In order to change personal details such as name, title, address or bank details, please contact our investor services team on 020 3142 6226 or [email protected].

We can set up a Power of Attorney on a customer’s account to give full authorisation to access, make changes and manage the account on behalf of the customer.

To register the Power of Attorney on the account, please send us a copy of the Power of Attorney document (the whole document with the validation stamp). We can accept scanned copies of this document as long as it is the whole document with the stamp included.

Investors are responsible for paying UK income tax on their interest earned through RateSetter. Tax is dependent on your individual circumstances and tax rules are subject to change.  It is your responsibility to pay the correct tax on your earnings through RateSetter. 

You can download the most recent tax statement for your Everyday account by logging into your account.

In order to close the RateSetter account, you should first release all your investments and withdraw all funds to your bank account. Once all funds are withdrawn, please contact our Investor Services Team on 020 3142 6226 or [email protected] to close your account.

We would ask that you send us:

  • The full name and last known address details of the deceased.
  • Their RateSetter account number (if known).
  • The original death certificate or coroner’s report.

Please post the documents to RateSetter, 1 The Osiers Business Centre, Laversall Way, Leicester LE19 1DX. Ratesetter will then notify you in writing of the next steps.

No, with RateSetter you do not need to select the borrowers that you are matched to. 

All investments with RateSetter enjoy the diversification effect provided by the Provision Fund, which means that performance of an investment is determined by the performance of the whole loan portfolio, not the individual loans that an investor may be matched to.

We publish up to date information about the types of loans that are in the RateSetter portfolio along with our lending criteria.  RateSetter’s expert team of underwriters undertakes all credit and affordability checking before making lending decisions.

Your investment will be automatically matched to a loan contract with a term of up to 5 years. There are two types of loan contract – amortising and non-amortising contracts.

  • Amortising contracts: repay instalments of capital and interest each month. This repaid portion of the capital will automatically be reinvested at the Going Rate or the rate you have chosen.
  • Non-amortising contracts: repay all capital and interest when the loan reaches the end of its term. The maximum term on these contracts is 24 months.  If you are matched to a loan that repays at the end of the loan term, your interest accrues monthly until it is repaid, at which point it becomes Interest Received.  Both Interest Accrued and Interest Received appear in your monthly account statements.


2. Accessing invested money

To access invested money, log into your account and click on Withdraw then select the release investment to holding account feature..

The fee to release investments in the Access product is set to zero. The fee in the Plus product is 30 days of interest charged at the Going Rate; and in the Max product it’s 90 days of interest charged at the Going Rate. This reflects the higher earning potential in Plus and Max products.

When releasing invested funds, we are not able to select a specific loan contract to release money from.  Contracts are released on a ‘Last In, First Out’ basis, which means that the contract that was the last to be matched will be released first.

Unfortunately, we are not able to release funds from contracts under £10. This is because when you release your investment from a loan contract, another investor is matched to it and £10 is the minimum amount that can be invested.

3. Rates

Going Rate: RateSetter determines the Going Rate based on the supply and demand within the RateSetter marketplace, the external rate environment and the borrowers RateSetter is seeking to attract.  Our ambition is that the rates available on RateSetter are always attractive compared to the rates offered by traditional savings.

Your Rate: You can set Your Rate for new investments and reinvestments up to 5% above the Going Rate.

4. Promotions

Your bonus should be paid within 30 working days of completing the eligibility for it (unless the terms and conditions that apply to your bonus advise otherwise).

If your contract is repaid early, please ensure that your funds are reinvested back into the market for the remaining term as per the terms and conditions of the bonus.

All bonuses will be invested in the Access product at the Going Rate once credited.

5. ISAs

The RateSetter ISA is an Innovative Finance ISA (sometimes called an IF ISA). Every tax year, you can open one Cash ISA, plus one Stocks & Shares ISA, plus one IF ISA.​

Yes – the RateSetter ISA is a flexible ISA.  This means that if you move money out of your RateSetter ISA, you can put it back in without affecting your annual ISA allowance.  You can do this with your current tax year allowance as well as your previous tax year allowances, so long as funds are replaced in the same tax year as they’re withdrawn.

For more information from HMRC on Flexible ISAs, please click here.

All ISAs have an annual investment limit.  The current limit is £20,000 per tax year across all your ISAs: Cash ISA, Stocks & Shares ISA, and Innovative Finance ISA.  You can invest some or all of this £20,000 allowance in the RateSetter ISA, which is an Innovative Finance ISA.

You’ll be able to invest up to a further £20,000 in your RateSetter ISA in the 2020-21 tax year, which started on 6th April 2020.  The investment limits for future years will be announced by the Chancellor of the Exchequer in the yearly Budget.

Yes, we accept transfers of ISA funds.  This means that if you have Cash ISAs, Stocks & Shares ISAs and other Innovative Finance ISAs, you can transfer some or all funds from those accounts into your RateSetter ISA while retaining the benefit of the tax-free wrapper.

If you’ve already subscribed to an Innovative Finance ISA in the current tax year, you’ll be able to open your RateSetter ISA in the next tax year which starts on 6th April.

Yes, you can transfer existing Cash ISA funds, Stocks & Shares ISA funds and other Innovative Finance ISA funds into the RateSetter ISA.

Previous years’ ISA subscriptions can be transferred into RateSetter in whole or in part (depending on the terms and conditions of your existing provider). These will not affect your ISA allowance for the current tax year.

ISA subscriptions for the current year can only be transferred in full.

Yes, you can invest in all RateSetter investment products via the ISA.

Yes. The Provision Fund protects all RateSetter investors, including those investing in the RateSetter ISA.

The Everyday account and the ISA account work in the same way.

The main advantage of investing in the ISA account is that the interest earned is within the ISA tax-free wrapper (currently a £20,000 allowance each tax year).

No. The Innovative Finance ISA is made up of Peer-to-Peer loans which are not covered by the Financial Services Compensation Scheme, so the capital you invest into your RateSetter ISA is at risk.

Yes.  You can access the money at any time by using the Withdraw function in your ISA account to release your investment.  You can then move the cash from your ISA holding account to your bank account.

The fee to release investments in Access is set to zero.  The fee in Plus is 30 days of interest charged at the Going Rate; and in Max it’s 90 days of interest charged at the Going Rate.

Note: If you choose to remove funds from your RateSetter ISA, you will lose the ISA tax-free wrapper around these funds.  As the RateSetter ISA is a flexible ISA, you may be able to replace those funds at a later date if the funds are deposited within the same tax year as they were withdrawn.


There are no ISA-specific fees. The Release fees that apply are the same as those for the Everyday account.

In order to move funds from your Everyday account to your ISA account, you need to log in to your ISA account and click on the Deposit option.  After that, click on Move Money from Everyday Account. This will allow you to move funds from your Everyday account to your ISA Holding account.

You may already be familiar with ISAs that allow tax-free saving and investment in stocks and shares – these types of ISA have been available for many years now.  RateSetter’s ISA is an Innovative Finance ISA.  Innovative Finance ISAs allow people to receive tax-free returns from investing in peer-to-peer loans.

It is important to remember that investing in peer-to-peer loans means that you are putting your capital at risk.

We automatically open an Everyday account alongside an ISA account, but you are not required to invest via your Everyday account and you may choose to keep the balance at £0.

Having an Everyday account alongside an ISA account provides you with more flexibility for example in the event that you subscribe more than your annual ISA allowance, any excess can be routed to your Everyday account.

There is no fee associated with transferring out your ISA or ISA funds to another ISA Manager.  However, there may be a fee to release your invested money.  The fee to release investments in Access is set to zero.  The fee in Plus is 30 days of interest charged at the Going Rate; and in Max it’s 90 days of interest charged at the Going Rate.

As interest earned on the ISA account is not taxed, tax statements are not generated for investments in a RateSetter ISA account.

The Provision Fund we offer does not give you a right to a payment so you may not receive a pay-out even if you suffer loss. The Fund has absolute discretion as to the amount that may be paid, including making no payment at all. Therefore, investors should not rely on possible pay-outs from the Provision Fund when considering whether or how much to invest.  Learn more

6. Can companies invest?

Yes, as long as lending isn’t the main element of the company’s or trust’s business, it can invest with RateSetter as part of managing their treasury and cashflow.

If you want more information on how to invest as a company or trust, and the documents required to open a company account, please contact us on 020 3142 6226 or [email protected].


Yes, RateSetter investments can be included in a SIPP.  If you are interested in doing this, please ask your SIPP provider.

SIPP accounts are mostly managed by SIPP providers with RateSetter acting as the investment vehicle.

Our main SIPP partner is Morgan Lloyd.

Yes.  To do this, the RateSetter account must be registered in the name of your IFA.  Please note that all contact with RateSetter will be through the IFA.

8. Contact us

At RateSetter we pride ourselves on putting our customers’ interests first. We recognise that award-winning customer service is not just about what we do when times are good, it’s about how we help you when things don’t go as planned. That’s why if we make a mistake, we promise we'll go out of our way to make it right.

If you are unhappy with any aspect of our service and would like us to look into your concerns further, please do not hesitate to get in contact.

Our Customer Services team are available:
  • Monday - Friday: 8:00am - 7:00pm
  • Saturday: 9:30am - 5.30pm

Email: [email protected]
Call: 020 3142 6226

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