Fed Cuts Rate 75 Basis Points — I bought a Zopa US CD at 5.1% | P2P Lending, Peer to Peer Lending, People to People Lending

#1sal on 01.22.08 at 2:58 pm

too bad after inflation that $500 will be worth ~$489 in REAL dollars

#2Kevinon 01.22.08 at 3:04 pm

@sal

good point… I hope it is not the case… But my reasons for buying the CD are slightly different than “normal”… As the p2p lending blogger with the longest tenure in the blogosphere I needed to try the CD to maintain street cred. Now was better than tomorrow in that sense.

#3Lazy Man and Moneyon 01.22.08 at 3:19 pm

As you said, “I am still not sure why a CD is p2p lending.” With that being the case, there’s no problem potential hard to your “street cred” if you ignored it.

#4LCon 01.22.08 at 6:59 pm

It sure does sound tempting recently, but it’s a little difficult for me to get excited about a 5.1% CD. (the drop in the market seems a little tempting actually (and obviously more exiting (i.e. dangerous)))

Let us know how your zopa “help” impacts your return there…

#5Kevinon 01.22.08 at 7:43 pm

@LC

I agree the Stock market is going to get very tempting soon… I think there is a little more downside, but soon enough my money will be going to stocks. However, this is not a blog about stocks. :)

The help is figured into the 5.1%. If I chose to help others or help my person more my return would have been reduced.

#6Personal Loan Portfolioon 01.22.08 at 11:22 pm

I agree that Zopa is not peer lending anything like Lending Club or Prosper. However, if your purchase of a 12 month CD at 5.1% goes through, you got a fantastic deal today.

I do not plan on trying it Zopa. Same with Kiva (they weren’t even paying interest until recently), but I might try Kiva for fun.

#7OntheFenceon 01.23.08 at 6:54 am

I have to admit that Zopa now has an attractive market:
http://bankrate.com/brm/rate/high_ratehome.asp?web=brm&prodtype=invest&product=15&sort=2

#8» Confirmed My 5.1% Zopa CDon 01.24.08 at 8:28 am

[…] Rate Ladder P2P Lending Blog, Strategy, Rate Analysis and Personal Finance « Fed Cuts Rate 75 Basis Points — I bought a Zopa US CD at 5.1% […]

#9Zopa CD Drops to 4.5% : Rate Ladderon 04.30.08 at 1:29 pm

[…] national cd rate at 5.1% after the federal reserve cut the fed funds rate by 75 basis points. RateLadder locked in the 5.1% rate with a 1 year $500 […]

#10Fed Cuts Interest Rates — Now is the Time to Buy a Zopa CD : Rate Ladderon 04.30.08 at 2:12 pm

[…] the regualr reads this may be a bit of a rehash (Fed Cuts Rate 75 Basis Points — I bought a Zopa US CD at 5.1%), but the fed cut rates again today… If you have been considering buying a CD now is the time […]

#11zopaon 06.02.08 at 6:00 am

[…] funds rate 75 basis points, but you can still get a great CD rate from zopa US. The blogger got 5.1%http://www.rateladder.com/2008/01/22/fed-cuts-rate-75-basis-points-i-bought-a-zopa-us-cd-at-51/Book results for zopaDear Lama Zopa: Radical Solutions for … […]

Leave a Reply

Your email address will not be published. Required fields are marked *