April 13, 2023

Lending information 

Q: How long do I need to lend out my money for/what is the duration?

Answer: As long as you like! There is no lockup period or withdrawal limit. You will earn interest as long as you maintain a balance.

Q: What period is the interest % applicable to?

Answer: The interest rate is the amount you will earn per approved loan. The interest you earn each week is added to your account every Monday.

Q: What are the minimum/maximum lendable amounts and withdrawals?

Answer:

Minimum lendable amount: $100

Maximum lendable amount: $50,000

Maximum approved bulk loan requests per day:

$10,000

Minimum withdrawal: $1

Maximum withdrawal: None

Maximum withdrawal per day: None

Q: What is the maximum amount I can have in the account to be able to lend?

Answer: You can continue to approve borrower loan requests from your account while your account balance is below $50,000