Launched in October 2010, RateSetter has so far lent more than £1.5 billion to borrowers through its' 49,000+ investors.
In addition, RateSetter was the first peer-to-peer company to introduce a provision fund to protect lenders investments, and recently partnered with the British Business Bank to provide loans to small businesses through their network. The site matches lenders with both individuals and companies, with loans being sought for anything from a new car to business growth.
RateSetter is authorised by the Financial Conduct Authority and is a member of the Peer-to-Peer Finance Association.
RateSetter offers a provision fund, which comes into effect should any borrower miss repayments on their loan. However, your capital remains at risk.
Assumes funds are reinvested. Gross annualised rate, paid on withdrawal
Gross annualised rate, paid on maturity
Gross annualised rate, paid monthly. Rate is an average return over the last 12 months.