Brings Competitive Rates to Borrowers

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YES-secure, a social lending platform, has capped existing lenders' rates to 27.5% in order to provide competitive rates to borrowers.

YES-secure, a social network lending and borrowing marketplace connecting borrowers and lenders through an online auction process, has lowered the lenders’ rates for its various markets to 27.5%. YES-secure, launched in June 2010, has established itself as a successful peer to peer social lending platform in the UK consumer loans space. With its focus on the community angle, YES-secure aims to provide a fair platform and has implemented this cap on offered lenders rates to ensure that loans are offered at attractive rates whilst presenting high returns for lenders.

YES-secure has decided to introduce a more balanced lending rate on the platform by reducing the cap on lenders’ offered rate of interest from 35% to 27.5% in the A*, A, B, C, D and E borrower markets. The latest rates are bound to encourage competitive bidding and offered rates for the borrowers as there has been a 20% cut in the existing cap on the lending rates.

The YES-secure members become lenders and/or borrowers through a friendly, organized, and profit generating social network. Just as people bid on items in a public auction website such as eBay, in lenders place bids on member loan listings through the online auction platform. The borrowers can list their loan at the rate they desire and the lenders then bid on it at the rate they choose. Once the loan is completely funded, lenders making bids at lower interest rate outbid those at higher interest rate, which goes to reduce the offered interest rate to the borrower. The borrower is then offered the loan at an average interest rate. As a routine, market forces drive the loan rates and YES-secure only intervenes to ensure that loans are not being offered at unfair rates.

The unique feature of the YES-secure marketplace is that it encourages the borrowers to invite their friends, family, and colleagues to join their YES-secure connections and bid on their loan listing up to 10% of the loan request at the rate they choose, lowering the interest rate further. And once the loan is partly funded thus, it might accelerate others lenders’ contribution to it. In the process it gets better rates for borrowers and higher returns for lenders than they would through FDs!

The introduction of the 27.5% cap on lenders’ offered rate has been done with a view to provide more competitive and worthwhile rates to borrowers as YES-secure is a social lending platform. This step should work to factor in an effective risk-evaluated interest rate to attract and retain a suitable category of borrowers in order to maintain the low potential default rate. We hope and believe that this step will accelerate the activity on the platform and benefit both borrowers and lenders.

More information regarding YES-secure can be found at

For more information, please contact                        
Ms. Mala Chauhan
0871 221 9410 extension 5440 Limited
Checknet House
153 East Barnet Road

  • Please note: Calls to 0871 numbers cost 10 pence per minute from a BT landline. Call charges from other networks may vary.


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Mala Chauhan
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