Title:
Post by: Fred93 on October 08, 2020, 11:00:00 PM
Post by: Fred93 on October 08, 2020, 11:00:00 PM
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.
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.
Title:
Post by: bkcarp00 on October 08, 2020, 11:00:00 PM
Post by: bkcarp00 on October 08, 2020, 11:00:00 PM
It's going to be not even worth your time. Most likely less than .50.
Title:
Post by: Rob L on October 08, 2020, 11:00:00 PM
Post by: Rob L on October 08, 2020, 11:00:00 PM
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.
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.
Title:
Post by: macroman7799 on October 08, 2020, 11:00:00 PM
Post by: macroman7799 on October 08, 2020, 11:00:00 PM
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.
Title:
Post by: TravelingPennies on October 08, 2020, 11:00:00 PM
Post by: TravelingPennies on October 08, 2020, 11:00:00 PM
Title:
Post by: jheizer on October 08, 2020, 11:00:00 PM
Post by: jheizer on October 08, 2020, 11:00:00 PM
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.
Title:
Post by: Debt Free on October 08, 2020, 11:00:00 PM
Post by: Debt Free on October 08, 2020, 11:00:00 PM
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%?
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%?
Title:
Post by: JDII on October 08, 2020, 11:00:00 PM
Post by: JDII on October 08, 2020, 11:00:00 PM
Quote
Title:
Post by: TravelingPennies on October 09, 2020, 11:00:00 PM
Post by: TravelingPennies on October 09, 2020, 11:00:00 PM
Title:
Post by: AnilG on October 10, 2020, 11:00:00 PM
Post by: AnilG on October 10, 2020, 11:00:00 PM
0.25% is not available to "all" Tom Dick or Harry but the ones with $25,000 or more account balance.
from: Fred93 on October 10, 2020, 04:57:01 AM
from: Fred93 on October 10, 2020, 04:57:01 AM
Title:
Post by: TravelingPennies on October 10, 2020, 11:00:00 PM
Post by: TravelingPennies on October 10, 2020, 11:00:00 PM
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.
Title:
Post by: trixh0 on October 10, 2020, 11:00:00 PM
Post by: trixh0 on October 10, 2020, 11:00:00 PM
Dear LC,
my idea of a compelling rate:
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
my idea of a compelling rate:
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
Title:
Post by: FILTER on January 04, 2021, 11:00:00 PM
Post by: FILTER on January 04, 2021, 11:00:00 PM
Its going to be PEANUTS!! My guess would be less than .6% If Savings Rate is above 1% I will be stunned !!!