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Earn 12% Interest as Soon as You Bid with EstateGuru

By Jane Rey on 29th November, 2014 | Read more by this author

EstateGuru, the property P2P lending website focusing solely on properties in Estonia, has become the second P2P lending Company to pay interest even if your money is not currently being lent out.

In an announcement to lenders, the company wrote: “We are implementing [a] bonus interest programme starting from bidding to compensate you for your cash drag on your investment while you wait [for] auctions to be completed. Meaning that your money will start earning interest when you mak e [an] investment to project.”

There's no guarantee that the loan will be fully funded and go ahead, but you'll receive the interest regardless of whether the loan is successfully completed or not. If the loan does not go ahead, the interest will stop until you offer your money on another loan.

EstateGuru continues: “Investors receive monthly 1% interest rate during [the] project funding period, rewarding investors 50 times more than depositing money in bank accounts. All investors, who have already made investments, will receive interest as well.”

Stanislav Klevtsov from EstateGuru confirmed to 4thWay® that the company really means 1% per month, so that’s a 12.7% annual compound rate. Not only is that extraordinarily high, but it’s even higher than the interest you can currently earn on any of the three loans that are currently available at EstateGuru. Those are two loans at 10% for three years and one loan at 10.5% for one year, all secured on Estonian properties.

EstateGuru allows investment on a first-come, first-served basis and it sets the interest rates itself. The minimum amount you can lend is €50. There is no early exit option.

Interest from day one closer to home

Wellesley & Co., a property P2P lending website, is the only other offering we’re aware of that offers interest even when your money is not on loan. After depositing your money and selecting the amount of time you want to lend for, you’ll start earning interest at the agreed rate immediately and every day until the period expires. You still earn interest even if, at any time, your money is not being loaned out. Read more in Wellesley’s 4thWay® Insight Report.

Sources: EstateGuru

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