Get a $1,000 Bonus with a New Prosper Premier Account

Prosper Premier p2p lending investment account

I first wrote about Prosper’s Premier service back when it was introduced earlier this year. At the time I said it was a good move by Prosper because there are many investors who like the potential returns offered by p2p lending but don’t want to go to the trouble of selecting loans themselves.

If you are this kind of investor and you have been considering Prosper then there has never been a better time to start investing. Prosper is offering a $1,000 bonus to the first 25 SLN readers who sign up for Premier and invest at least $25,000. All the details are below.

How Prosper Premier Works

Before we get into the details of this bonus let’s first take another look at the Premier service. Prosper bills it as “the fastest, most convenient way to earn great returns”. You choose a couple of parameters including your level of risk and Prosper manages your investment for you.

Here are the steps needed to open a Premier account:

  1. Download the Order Form from Prosper’s website.
  2. Choose a target allocation based on the different loan grades from AA down to HR.
  3. Allocate a percentage to different loan terms (1, 3 and 5-year) or just select all loan terms.
  4. Choose the maximum dollar amount to invest per loan.
  5. Decide whether to reinvest payments or not.
  6. Fill out funding instructions.

Before your money is invested you will speak with one of Prosper’s investment analysts who will confirm your instructions. If want to add a specific filter, such as number of inquiries, repeat borrowers only or no delinquencies to name a few possibilities, then you can add them when you talk with the analyst.

Once your criteria are all set your selections will run every time new loans are added to the platform. In reality your investments are batched with the Automatic Quick Invest orders and run with them. You will receive an email confirmation whenever your money has been invested.

How to Get Your $1,000 Bonus

This bonus is only available to readers and subscribers of this blog. Prosper contacted me a couple of weeks ago and wanted to run a special promotion just for the readers here. So, in order to get your $1,000 this is what you have to do. Fill out the order form and then call the Premier number at 1-877-611-8797. You should be connected to Austin Bryant or Cameron Fleischer. When you speak with one of them mention you saw this offer on the Social Lending Network blog and you should get your $1,000 bonus, as long as you are one of the first 25 people.

Of course, there are some conditions:

  1. You need to invest a minimum of $25,000.
  2. You need to keep your account as a Premier account. You cannot open a Premier account and then switch it back to a self-managed account.
  3. If you are an existing Prosper investor you need to transfer in an additional $25,000 and convert to a Premier account.
  4.  Prosper cannot provide investment advice – you make all the decisions on the application form.

I get no kickback from this offer; I am sharing this because I believe it is an excellent deal for investors.

Before making any investment you should read our disclaimer section as well as the Prosper prospectus. You should also consult with a financial professional to ensure this investment is appropriate for your financial situation.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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Larry Ventura
Larry Ventura
Sep. 6, 2012 3:53 pm

What is the minimum investment amount for a new Prosper investor to get the bonus?

Dan B
Dan B
Sep. 6, 2012 5:38 pm
Reply to  Larry Ventura

$25k Larry

Dan B
Dan B
Sep. 6, 2012 10:11 pm

Just so that things are clear for everyone, how long would you have to keep the account as a Premier acct. before you could……………for instance close the account? 3 years?
So if you keep the account open, it would have to remain a Premier account in perpetuity?

Dan B
Dan B
Sep. 7, 2012 12:17 pm
Reply to  Peter Renton

The answers are for your the benefit of your readers because it’s important that everyone understands the fine print……………so there’s no chance of future confusion.

Terry
Sep. 7, 2012 6:03 am

I’ve worked with Cameron Fleischer a fair amount in setting up both my Prosper IRA and my wife’s Prosper IRA. Cameron even helped me get in touch with the VP of IT at Prosper (Ron Pugh) as I’m working on developing https://www.NumberWhale.com… even though it kind of competes with their Premier service.

They have an Incredibly professional and helpful team.

Terry
Sep. 7, 2012 6:21 am
Reply to  Peter Renton

Peter, I certainly can’t argue with your thoughts there. Our list of pre-registered users is growing (in a large part thanks to your including us your weekly round-up). We’re aiming for an early October Go Live, so keep your fingers crossed. But to not further distract from your Prosper Premier promotion, best of luck to you and Prosper!

Carl
Carl
Sep. 7, 2012 6:58 am

Peter, Are there any other current Prosper investor bonuses in play? Do these types of things come up very often? Where do we read about these. Thanks

Mia
Mia
Sep. 7, 2012 8:57 am

Peter, I looked at the form and it says it is for existing Prosper members only and requires you to sign a statement to that effect. I get the impression from your blog that the offer is open to new members as well. Is that correct?

Mia
Mia
Sep. 7, 2012 9:39 am

I notice they charge a .8% fee off the top, so the bonus would actually be $800 on a $25K investment.

Mia
Mia
Sep. 7, 2012 3:00 pm

Thank you for the clarification.

Tim
Tim
Sep. 9, 2012 10:22 pm

Peter, is this offer still on the table or have 25 people already signed up? I am not sure how I missed this until now. I ususally read your blog weekly.

Thanks as always,
Tim

Tim
Tim
Sep. 10, 2012 8:59 am
Reply to  Peter Renton

I will contact Prosper and get the ball rolling. It’s such a great deal. As I recall from opening my LC account, it took a while to get funding from one IRA into a new one–which is what I would be doing here. I think they should give you the corner office, man!!! What I wouldn’t give to have your readership with a blog devoted to my favorite subject, retirement planning!

Take care,
tg

Tim
Tim
Sep. 13, 2012 3:28 am
Reply to  Peter Renton

Good morning Peter,

It seems there is data on everything these days. Do you know if there is any data to show the default rate for loans made through a premier account at prosper and the avereage default rate of individually managed accounts? I am just wondering if risk is lowered or elevated as a result of investing through a premier account. Have you ever used a premier account at LC or Prosper (I think I remember something about this) and what was your experience compared to your own hands-on management of the account?

I am about ready to take the plunge and just maybe I need a few words of wisdom related to premier accounts. Is the 1000.00 reward REALLY a good deal for Prosper? It would seem that it would take a long time for them to recapture that money through their normal operations.

Thanks for your time and all the help.
tg