With rockbottom interest rates over the past 6 years and with no rate increase in sight, savers are now fed up with the paltry interest rate being received with high street savings accounts and are now moving to peer to peer services.
The popularity of peer to peer lending has grown so much so that there are now over 15 crowd lending platforms in the UK alone. With so much choice and with new platforms springing up every week, it can be difficult to choose which platform to invest your savings in. Luckily for us, a new website has emerged which compares all the various different peer to peer platforms in an instant.
PeerLender is comparison site to find the best peer to peer lender for your savings. The website allows you to fill out a list of criteria and will then suggest to you how much you are expected to earn from different platform based on your criteria. The various criteria are:
- Amount to invest.
- Your tax bracket.
- Would you like access to your savings within the duration period.
- Whether or not you want a platform that offers secured savings or not.
Below is an image showing how the website works: (Click on the image to make it more clearer).