Thinking of investing with RateSetter. See below table of investment analysis as well as an extract of an account for one month.
Basic Investment Option with no automatic re-investment
Type | Investment Amount | % Rate | Interest Earned | Fees | Profit $ | Profit % |
---|---|---|---|---|---|---|
Year 1 | 2,000 | 7.8 | 156 | 15.6 | 140.4 | 7.02 |
Year 2 | 1,600 | 7.8 | 124.8 | 12.48 | 112.32 | 7.02 |
Year 3 | 1,200 | 7.8 | 93.6 | 9.36 | 84.24 | 7.02 |
Year 4 | 800 | 7.8 | 62.4 | 6.24 | 56.16 | 7.02 |
Year 5 | 400 | 7.8 | 31.2 | 3.12 | 28.08 | 7.02 |
Total | 468 | 46.8 | 421.2 | |||
Tax | 90k - 180k Tax Bracket | 37% | 155.84 | |||
End Profit | 265.35 |
Re-investment Option
Type | Investment Amount | % Rate | Interest Earned | Fees | Profit $ | Profit % |
---|---|---|---|---|---|---|
Year 1 | 2,000 | 7.8 | 156 | 15.6 | 140.4 | 7.02 |
Year 2 | 2,000 | 7.8 | 156 | 15.6 | 140.4 | 7.02 |
Year 3 | 2,000 | 7.8 | 156 | 15.6 | 140.4 | 7.02 |
Year 4 | 2,000 | 7.8 | 156 | 15.6 | 140.4 | 7.02 |
Year 5 | 2,000 | 7.8 | 156 | 15.6 | 140.4 | 7.02 |
Total | 780 | 78 | 702 | |||
Tax | 90k - 180k Tax Bracket | 37% | 259.74 | |||
End Profit | 442.26 |
Actual Audit Trail from RateSetter Account
Date | Market | Item | Transaction | Amount | Balance |
---|---|---|---|---|---|
July 16, 2019 | c | BPAY funds transfer in | 1000 | 1000 | |
July 16, 2019 | 5 Year | Lend order | -1000 | 0 | |
July 17, 2019 | a | BPAY funds transfer in | 1000 | 1000 | |
July 17, 2019 | 5 Year | Lend order | -1000 | 0 | |
August 6, 2019 | 1 Month | RateSetter referral promotion | 75 | 75 | |
August 7, 2019 | 5 Year | Lend order | -75 | 0 | |
August 21, 2019 | 5 Year | xxx | Principal repayment | 12.4 | 12.4 |
August 21, 2019 | 5 Year | xxx | Interest payment for contract xxx | 7.12 | 19.52 |
August 21, 2019 | 5 Year | xxx | Lender interest margin fee | -0.71 | 18.81 |
August 22, 2019 | 5 Year | Reinvestment order | -18.81 | 0 | |
August 22, 2019 | 5 Year | zzz | Principal repayment | 11.39 | 11.39 |
August 22, 2019 | 5 Year | zzz | Interest payment for contract zzz | 7.58 | 18.97 |
August 22, 2019 | 5 Year | zzz | Lender interest margin fee | -0.75 | 18.22 |
August 23, 2019 | 5 Year | Reinvestment order | -18.22 | 0 | |
August 23, 2019 | 5 Year | Cancellation of order | 18.22 | 18.22 | |
August 23, 2019 | 5 Year | Cancellation of order | 18.81 | 37.03 | |
August 23, 2019 | 5 Year | Lend order | -37.03 | 0 |
Given your cash is tied up and not easily removed however as long as the loan is paid your return is almost guaranteed would you invest with RateSetter?
Written by Aaron Evans
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