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RateSetter expand their product range
With their latest upgrade, RateSetter have expanded their portfolio with a 5 year term product and a novel 1 year bond. At the start of the year we predicted that there would be a new product and this bond certainly fits the bill. RateSetter state on their website:
The 1 Year Bond is a fixed interest product with capital and interest paid at the end of the term. The 1 Year Bond is used in tandem with the Monthly Access market to create 18 and 24 month loans. We expect it to be popular with Lenders who are looking to realise an enhanced return with a lower level of access than the Monthly Access option.
I promised not to spill the beans yesterday when told the latest exciting news. I believe this will certainly go a long way towards bringing P2P lending to individuals who are more familiar with standard saving products such as 1 year bonds. Full marks to RateSetter, who again demonstrate they are a leader in the P2P arena.