Plenti Investors

No help if your IVF is successful and you have to take time off work due to hyperemesis – Happy to lend you more than you can afford for 'medical procedures' but when you need time off due to sick leave because of having those procedures they don't help you with any kind of temporary hardship, not even skipping a month payment. Loaned me $20k to do ivf, then 2 years later when the last round finally worked and I ended up unable to… Read more

work for a month due to hyperemesis during the first trimester, they claimed this was "not unanticipated" despite having medical certificates. Would not even give me a 1 month grace period.

interest rate is absurdly high at over 20%.

You'd think they would have some compassion since they specifically fund medical procedures but no, they are TERRIBLE to deal with once you sign the contract.

AVOID AT ALL COSTS

good investing better than banks – i was sceptical at first but invested a little and after some time made sure i could withdraw. many investment schemes dont let you withdraw for some reason not disclosed up front but not Plenti. i hope they arent planning to change policy though but that is always a risk with investment places. ive made good returns far far better than a bank… Read more ·  1

even after fees etc. unlike typical investments where ypu see your balance go up and down with Plenti it only goes up if youre a lender, but thats to be expected with peer to peer lending as the interest rates are lowish and sort of follow the market with a lending rate cap. so you cant set a billion % interest rate or something silly. your deposit is split into bits going to different borrowers so if a borrower doesnt repay its only a small chunk and ive never known it to happen as it lost in the noise so to speak. i keep track closely on my total portfolio with plenti and it only goes up. with lending rates around 4%give or take the returns are low but keep rolling in unlike a bank where fees eat into any interest. and it all adds up over time to a sizable chunk of change and you can set to have all dividends go back into a lending option so it just rolls around and keeps growing. as long as they stay independent and not merge with a bank or other company this is a great way to invest but dont take my word im not a millionaire just a joe start with a small amount in the basic flex option for a few months then test you can withdraw then reinvest if you feel ok and have made more than it sitting in the bank and like any investing dont invest more than you can afford to lose, gain trust first and test the waters with any investment and make sure you include any and all fees as a loss in your decisions. its a great way to save ive found. as a physically disabled person i get zero support from our lieing government and plenti helps me save to pay bills etc.

The changes made has made this no longer viable for me – Been an investor for a couple of years now, and at the start it was something that interested me. The idea of the platform (people lending to people) was a great idea. Then the constant changes started to filter through (if you are ever wondering what's next check out where ratesetter UK is going). The rate cap was the last straw for me as it… Read more

removed the ability for me to put a loan up at the rate I am prepared to risk my money at. If someone else is willing to loan at a rate lower then me I'm fine with that, its called market forces. What I'm not ok with is to be told I cant loan money and higher then 6.5 % but have no lower limit. So once the limit on my returns was put in place which frankly doesn't cover the risk I just put the auto withdraw on once a month to empty the account.

Was good whilst it lasted but it doesn't suit me any more. I get better returns for the risk elsewhere. After all I'm a little amazed when I see people lending money in the 1 month for 1 and 2 % .. that's insane returns for what is nothing more then an unsecured loan. I can get that in a term deposit that is guaranteed.

I get Plenti run their own show and I have no issues with that, but I too run my own show and this is why I have gone elsewhere.

i got 3% interest in 2020 on 1-month investor plan – the good: -i got about 3% interest on average in 2020 on 1-month rolling investor plan over a period of 12 months -i could withdraw all my invested money with the 3% interest within 1 month as promised. -i used the auto-reinvest feature which worked well. i didn't have to bother to manually bid all the time - that would be so much work giving… Read more

that the interest rate market changes all the time (every minute?)

the not so good: -plenti's terms and conditions change all the time, almost every 2 months. maybe it had to do with their IPO in 2020 but it's scary -plenti is a loss-making company according to their published financial statements. This makes me nervous. if they go bust, the money you invested is gone. -their long-term interest plans (3-5 years), currently around 4% interest are not very competitive given that you can't touch the money for that period. if you invest long-term (probably for 10 years is recommended) in the ASX index (e.g. VAS) you get about 7% on average and you can access your funds anytime. but i guess 4% works for some people if they don't like shares.

Conclusion: I may use them again in the future. Right now their 1-month interest rates are definitely better than what you get in a bank account. for me the 1-month rolling plan is the best option because then i can access my money within 1 month if needed. I hope this company will be able to make a profit one day - then I'll be less nervous to invest with them.

Plenti is great! – Have been receiving above average interest returns & even got a bonus recently for meeting certain conditions. There is an app to keep track of your investments & haven't had any problems.

happy investor – better than bank saving rates and easy to use, have to manually set the markets instead of auto reinvesting however its a minor thing that only takes a second Show details

Plenti investor – Easy reliable platform with helpful staff if needed just a phone call away. chose your rate and time frame . Have easy access to money if needed before term. Good easy way to get a reasonable return on your cash. Show details ·  1

Descent investment platform – Good for small and medium investors with descent returns and low risk. The app could do with some more functionality and information. Plus detail on transactions would be good Show details

Worse than a term deposit – Plenti used to be an attractive option, but rates are now often worse than a term deposit for a much higher risk. Using the auto-reinvestment option offers no protections from low rates. You can set a manual rate, but that often means not getting anything matched. The way the auto-reinvestment rate is set is opaque, and marketing materials… Read more

emphasise the unattainable maximum rates.

Like other recent reviewers, I'm in the process of withdrawing all my funds. It's just not worth the risk anymore.

Not the best ROI – I started investing and the rates were awesome and returns great. With the capped rates I do not believe this is a good way of spending my money. Gradually withdrawing my investment and moving it somewhere else. So sorry to see such a great company going down. The website, customer service and anything else is great, no complains here. Just the capped and low rates makes it not a very good investment at the moment. Show details

Solid cash investment – I found Plenti after reading an article on peer2peer banking in the UK. I wanted to find something in Australia so I used Google, that was about 7 or 8 years ago now and I have not looked back. I closed my term deposits and I get the best rates available. Couldn't be happier Show details

Transparent, diversified peer to peer lending – Been with them for many years now after it was recommended by a friend. Interest earned has consistently been above anything the banks or term deposits could offer. Risk may be higher, but based on their good management very few defaults happen and there is a fund created to take care of such events. Show details

Consistent service – I find plenti a reliable investment, I have been investing with them for the past 4 years and I have not had any drama’s. They sometimes have bonus return deals which give your investment a boost ! Show details ·  1

Pleased with process and ease of transaction – Product offered is suitable for our needs operating a Self Managed Super Fund. Simple to invest with options offered to investors and on-line transactions are easily accessible. Show details ·  1

Better returns than what the banks offer – I started investing with Plenti years ago when they were still known as RateSetter. Over the years with the choice to pick my own rates, I have and continue to receive better returns than what the banks are offering. Friends and family I've recommended to are also loving the platform. Customer service team have always been lovely to deal with. Thank you! Show details ·  1

SAVINGS – Plenti have been pleasantly perfect at making investment easy for beginners. Thanks so Much! Show details ·  1

I love this! – I have invested money with Plent for a few years now. The range of investment options and rates makes it simple to invest and also to withdraw my money if i need it. Highly recommended. Show details ·  1

Simply the best – I love how simple the process is to set up and use as an investor account. Excellent features that allow me to monitor my investment. I can easily reinvest or deposit. The returns over the last 12 mths have outperformed my bank deposits and my shares. I invest in the Flex, Plus and Green markets. Show details ·  1

Format of monthly performance figures – The current format of the "Your Monthly Performance" figures is very good. Same information as in the past but the way in which the figures are formatted is very good. Show details ·  1

Perfect platform – Good setup,running like a clock,a pleasure to invest,never had a problem with it,trustworthy.Interested on note,but would prefer a smaller amount to invest in Show details

Great opportunities, it works for me! – Easy to navigate around website, I've set me reinvestment strategies and it works for me. I like the reduced options you have now. Show details

So easy to invest with great returns – I have found the Plenti platform easy to use and flexible to invest money based on different time horizons Show details

Automated income investing and easy access to green lending market – I am a long term investor on the Plenti lending platform, due to the ease of it's retail debt market income investing. I have setup to automatically re-invest interest and principal at given market rates. The green market also lets you easily help finance green purchases and upgrades for Australians in one simple investment. The provision fund also gives investors some level of protection and de-risking. Show details

Excellent, easy-to-use investment – I use the product regularly and find it couldn't work better for me. The interest rates are very competitive and everything has worked perfectly for me over the last almost five years. Show details

Good platform – Easy to use, transparent, good customer support. Overall, good experience over two years.

Easy Investing – I am an investor on the Plenti platform and it is very easy to transfer and invest your money in a high return safe environment. Show details ·  1

Easy to use platform, regular interest payments – The platform is easy to use and can be set up to automatically re-invest. Or payments can be sent to your holding account if you need the cash. Withdrawal is easy and usually transacted within days. Better interest in the flexi account than many term deposits or bonus savings accounts. Show details ·  1