Yesterday, ahead of the arrival of a major new loan offering on site, we looked at the income-seekers' dilemma. Using research from the comparison site, Money Facts, we highlighted the news that the best easy-access cash accounts offer around a measly 1 per cent.
But it seems there's a better account out there – though there's so little difference, it tends to reinforce the point. Here's an excerpt from recent coverage of a new product by This Is Money, the online arm of the Daily Mail.
"Ulster Bank has launched a new easy-access account that blows competition out of the water, paying 1.25 per cent.
"This is the top deal savers have been offered since early August 2016 when RCI Bank paid 1.45 per cent, according to This is Money's independent best-buy tables.
"While the arm of the Royal Bank of Scotland has no branches outside of Northern Ireland, the esavings account can be opened and operated online."
Returns on P2P loans
Money&Co. lenders have achieved returns of almost 9 per cent - before deduction of our one per cent fee - in the three years and nearly £10 million of loans facilitated on our platform.
In addition to new loan offerings, our secondary loan market, offering existing loans for sale by lenders, is available to registered Money&Co. users. All loans can be held, tax-free, in an Innovative Finance Individual Savings Account, or Innovative Finance ISA.
If you haven't made a loan via Money&Co. before, please read the risk warnings and the FAQ section. You may also wish to consult a financial adviser before making an investment. Capital is at risk, once loaned.