Harmoney monthly RAR updated today..... I saw a 0.5% rise! :)
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Harmoney monthly RAR updated today..... I saw a 0.5% rise! :)
For those who are interested I have been with Harmoney for a full year now and this is how it panned out.
Loans: 492, (36 months 489, 60 months 3)
Average Loan $191
By Grade: A 42%, B 31%, C 16%, D 5%, E 4%, F 2%
Charged Off: 2 (0.4%)
Repaid Early: 100 (20.3) Reduced gross return by approx. 0.8%
RAR per Harmoney 12.41%
Gross Return by my calculation 11.59%
The early repayment "penalty" can be a pain but if it was shown as an estimated reduction in return on the order summary page in the same way as the expected annual default rate is shown, it would give more transparency. Remember primary function is to make a return for its shareholders.
it can be fairly time consuming have to monitor the site at least once a day; this is not a problem for me but I can see that it could be a chore for some.
Overall I am very happy with this investment, it sure beats the less the 4% received from the bank.
Today my RAR crossed the 14% mark! :cool:
You therefore pay your individual PIR tax on this 11.59% return?
How much time per week does it take you to monitor?
How easy is it to re-invest your interest and principal repayments into new loans? Or does your cash sit not earning in between loans?
Why are you investing here as opposed to the sharemarket which averages 10-11%?
Mine went up - but only by 0.1% - so currently its still lower then it was the 1st month the rar was published
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