3 months have passed since we opened our Funding Circle account. Performance on the account has been good and because of this I have increased my fund to £1000. It is now level with my Zopa fund. The extra £500 I added was lent out much quicker than the original £500 so that was a nice surprise.

I haven’t had any problems using Funding Circle and so far I really like the hands-off automated approach to their system. Below are screenshots from my third month, you can see I gained £3.86 interest from borrowers. We should see a higher return next month after the repayments start to flow in from the extra £500 I added.

So far we are on target for our projected 7-8% annual return. 8% of £500 is £40, this divided by 12 months is roughly £3.30 per month interest. My interest gained each month has been over this so I’m very happy with the performance.

Stay tuned for next months update.