I am very happy with these results so far. My average interest rate is 18.87%, and I am making twenty-three cents of interest per day. I have so far netted $20.73 from the loans I have made. No, it hasn't made me rich, but I really have just been doing this to see how and if it works. I will continue to invest and reinvest, and hope to make peer lending a valid source of second income.
Prosper makes it very simple to track earnings and results with a loan summary page (see above) and an account summary page (below). This way I can always see if my loans are current, what returns I am earning, etc.
They also continue to improve the site. For example, I recently noticed that if you are bidding on a loan, and your projected return is lower than you should be getting for the credit tier you are bidding on, they will warn you and make you confirm you are aware of that fact.
The projected return is calculated based on the interest rate, fees, and potential of default on your loan, and shown before you submit your bid. Pretty handy!
