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Started by Peter, October 08, 2020, 11:00:00 PM

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Fred93

Lending Club has told us they will soon announce a special "a high-yield savings account exclusively available to our Notes investors".  What an opportunity! 

They have not yet said what the interest rate on this special high-yield account will be. 

Would you like to guess?  Place your bets gentlemen.  Pick the answer closest to your guess.

bkcarp00

It's going to be not even worth your time. Most likely less than .50.

Rob L

Marcus and Ally are at 0.60%. So, I guessed 0.70% thinking LC will might possibly offer a tad more to be competitive.

I'm sure current note holders are all so pleased with LC they can't wait for this terrific opportunity! Probably should have guessed 0.50% but didn't factor this enthusiasm in.

Actually the whole idea doesn't make sense. LC is gonna spend a bunch of money creating a product for the very investors they walked away from? Really? You might add an "It ain't gonna happen" choice to your poll for the mega cynics like myself.

macroman7799

If they did manage to come up with 0.70% or more that might  make it wothwhile to move non-LC money to the new account but that just doesn't seem likely. My question, will there be an IRA version of the new account because my LC account is an IRA.

TravelingPennies


jheizer

I see my vote (.30%) is pretty far on the pessimistic side so far.  I think they are just saying it to try to shut people up.

Debt Free

Will it be simply an "introductory offer" valid only for your initial opening deposit?  Or expires after 12 months.
Will there be a minimum deposit maintained amount of say $10,000 in order to achieve it?  Otherwise it reverts to 0.01%.
Will it be  the scenario of only up to the first $3,000 and then any amount above that is the standard rate of 0.01%?

JDII


TravelingPennies


AnilG

0.25% is not available to "all" Tom Dick or Harry but the ones with $25,000 or more account balance.

https://forum.lendacademy.com/index.php?topic=21703.msg62192#msg88888888Quote"> from: Fred93 on October 10, 2020, 04:57:01 AM

TravelingPennies

In other words, the answer is that the interest rate is not enough except that it will serve as a transitional vehicle for people moving their funds out of Lending Club.

trixh0

Dear LC,

my idea of a compelling rate:

https://forum.lendacademy.com/proxy.php?request=http%3A%2F%2Fwww.grinsen.de%2Fbilder%2FLC%2Frate.gif&hash=f94116f1548143581c04526c395c06a8" alt="" class="bbc_img" />

If you be so kind here my suggestion:

Return all my "Available cash" on Jan 4th, 2021.
All cash that collects afterwards in my LC account will earn the above interest until I withdraw or my last note enters either "Fully paid" or "Charged off" status.

Thanks for consideration,
Jens

FILTER

Its going to be PEANUTS!!   My guess would be less than .6%   If Savings Rate is above 1% I will be stunned !!!

NEW LOANS:   | tropius.eth 0.200 Ξ | tropius.eth 0.200 Ξ | tropius.eth 0.200 Ξ | ALL