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1% Bonus On Lending Works if You’re 55+
Lending Works, one of the safest P2P lending companies, has just made two new announcements that are quite interesting – but only if you're 55 or older, because they just apply to you.
1% bonus interest for new lenders
If you join Lending Works and offer your money to lend before 30 April, you'll earn a 1% bonus on the amount you lend. This bonus is added to your loans, so, if you lend £1,000, Lending Works will top it up to £1,010.
You'll earn interest on top of your bonus money. Currently, Lending Works is paying 5% for lending for three years and 6% if you lend for five.
If you try to lend your money towards the end of April and it is not all matched to borrowers by the 30th, you'll still get the 1% bonus if your money is lent out before 10 May.
(Thise extra 10 days could be useful; see: How Much You Lose When You Can't Lend Your Money.)
Dedicated account manager on phone and email
You will also have a named customer representative that you can email or speak to directly to help you manage your online lending “dashboards”.
There is no minimum amount that you have to lend to get this service.
Prospective Lending Works' lenders can see a retirement income calculator, so that you can forecast what income you'll earn through Lending Works.
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