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Comment from: T Bradley [Visitor]
T BradleyI invested in a 5year plan with Ratesetter but I am confused and unable to find out about monthly interst. I am taking the interest every month and reinvesting the capital back into the plan, which I am happy with at the moment, and want to know if my monthly interest will reduce over the 5 years. I know this is difficult due to the varying rates but assuming the rate never changes will my interest reduce
14/11/13 @ 11:05
Comment from: admin [Member] Email
In response to the previous comment, your monthly payment should stay the same, but the interest element will reduce, whereas the capital element will increase. If you reinvest the funds the monthly repayments will increase as the overall balance increases.
14/11/13 @ 11:18
Comment from: T Bradley [Visitor]
T BradleyI apologise for the latest email after reading your response again I think you have answered my question
19/11/13 @ 11:06