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