With the Summer now largely behind us and the days getting shorter, we thought we’d brighten things up a little by offering lenders the chance to earn 4%* pa cashback on all bids on loans that complete between 04 September and 31 December 2017.
Cashback will be calculated from the day when the bid was made to the date the loan auction closes, at a rate of 4% per annum.
This means that if you bid £10,000 on an auction and the auction runs 10 days from when your bids are placed, you will receive £10.96 cashback, just for bidding.
This incentive means that your bids will not sit idle, but instead earn 4% pa, whilst you wait for the loan auction to complete. We are working to reduce 'cash drag' by bringing you more frequent deals.
You should remember that lending to businesses carries the risk of default. In the event of a default, you may lose all your unpaid capital and interest. If you are unsure about lending you should seek independent legal advice.
To find out more about the risks of lending please visit our Risks Page.
Terms and Conditions Apply
- Cashback is accrued at an annualised rate of 4% from the day the bids is made until the date of the close of the auction.
- Cashback is conditional on the loan being accepted by the borrower.
- Cashback amount is paid to the nearest whole penny. Fractions of pennies are truncated to two decimal places. No credit will be applied if the calculated promotional credit amount is less than £0.01.
- To qualify your bid must be active at the close of the auction. No cash back will be paid on cancelled bids.
- Promotion does not apply to a lender's Available Balance, it applies to bids made on loans between 06/09/2017 and 31/12/2017, where the loan is accepted by the borrower.
- Cashback will be added as a promotional credit after drawdown of the loan by the borrower, cashback will only appear on a lender’s dashboard and statement at this point.
- If the loan is not drawn down and is instead cancelled, no cashback will be paid.
- This promotion may be withdrawn at the discretion of rebuildingsociety.com at any time.
