Rates and Fees

No Joining Fees

We do not charge a registration or joining fee.

Gross Returns

Loans are graded from A+ to C, with C being the riskiest type of loans and A+ being the least risky. We don’t accept any borrowers who do not meet at least our C-rated score criteria. When bidding for a loan, the maximum rate of interest that you can bid for will be determined by the risk band allocated to the loan, as follows:

  • C: 20% and under
  • B: 17% and under
  • A: 14% and under
  • A+: 11% and under

Please see the stats page to understand the Net Return of each risk band after factoring in arrears and defaults.

0.50% Microloan Sale Fee

If you decide to sell a microloan, there is a 0.50% sale fee based on the outstanding capital, which is payable once your loan part is sold. For example, if you sell a loan part with £100 principal remaining, the sale fee would be £0.50 once the loan part sells. No charges apply if a loan part is not sold.

ISA Fees

It is free to open an IFISA account.

Transfer In Fee

A fee of £40 applies if you require assistance with transferring in an existing ISA from another provider.

Transfer Out Fee

A fee of £40 applies if you require assistance with transferring out your IFISA to another provider.

Account Management Fee

A monthly fee of 0.1% of assets (bids + microloans) applies and will be taken from your available balance on the 1st of each month. Microloans which have defaulted are excluded.

Large Lender Accounts

If you hold an available balance of £100,000 or more, or you have generated over 100,000 microloan records, you may meet the criteria of a ‘large lender’ and be charged a large lender account fee of 1% of assets (available balance + microloans) per month. This will also activate BidPal and SellPal settings to help optimise returns for large lender accounts.