High Yield Savings with Prosper and Lending Club

Since savings accounts in bank do not offer much interest anyway, here are few high yield savings options for you. Prosper and Lending club are peer to peer lending portal.

If you need to borrow for your home re-modelling or healthcare needs, you can go to these portals to borrow money. These sites take care of all paper works and checking your credit score and all other formalities and basically rates your credit worthiness and assigns the interest they are going to charge you.

Now, you need to lend money to earn high yield on your investment. You go to the market place of prosper and lending club and find notes. Note is nothing but the people who is looking to borrow. You can see the rating, that is essentially the credit worthiness. Based on credit rating, income, past payment history, total debt etc.

How these high yield savings work?

High Yield Savings
High Yield Savings

You can invest as little as $25 on a note. My advice you get notes with the highest rating, although the return on your investment would be low but at least your investment would not go bad and you will keep on getting interest payment along with principle balance.

High Yield Savings 2017
High Yield Savings

And every month you can withdraw those funds back to bank account or re-lend it.

The business model is, the borrower pays interest and some principle amount , prosper or lending club take their cut as processing fee and then you get part of your income from the interest the borrower has paid. Remember, the borrower can default. And lower the rating they got, higher the chance of defaulting it. So it is safer in low yield notes those have highest rating.

These is one more high yield savings option, DCU.org, for first $500 you will get 3% and then the interest goes down for rest of the balance on your savings.

If you are interested to invest in gold and worried about storing then try out goldmoney.

2,098 Comments

  1. gry android September 2, 2017 Reply
  2. wildtequilla November 7, 2018 Reply
  3. Trade Bitcoin November 7, 2018 Reply
  4. Ariana Grande Thank U November 8, 2018 Reply
  5. Get Rich Today November 8, 2018 Reply
  6. Red Tea Detox November 9, 2018 Reply
  7. Lose Belly Fat Today November 9, 2018 Reply
  8. Save on electricity November 9, 2018 Reply
  9. blondiebetsy November 9, 2018 Reply
  10. Earn Passive Income November 10, 2018 Reply
  11. Drop Shipping Guide November 10, 2018 Reply
  12. Get Your Ex Back November 10, 2018 Reply
  13. Get Rich Today November 10, 2018 Reply
  14. Three Week Diet November 10, 2018 Reply
  15. ketrin_new November 10, 2018 Reply
  16. Get Paid To Take Surveys November 10, 2018 Reply
  17. Ariana Grande Thank U November 10, 2018 Reply
  18. Online Singing Lessons November 10, 2018 Reply
  19. Easy eBay Money November 10, 2018 Reply
  20. Get Paid Daily November 11, 2018 Reply

Add a Comment

Your email address will not be published.