Autobid is designed to save you time, and stop you missing investment opportunities. Purpose-built for investors, it enables you to bid on FundingKnight’s live auctions automatically.
It only takes a few minutes to set up your preferences. First, you decide your preferred interest rates per shield/castle/windmill rating. You can set different rates for shorter (up to 1 year) and longer loans (over 1 year). And within each band, you can also choose to have your bids placed with the following options:
- A fixed interest rate
- A rate above the reserve rate
- A rate equal to the reserve rate
- A rate below the reserve rate
Finally, you can then choose your bid amount rules – setting an amount per loan (in £) for each risk rating.
When you turn on Autobid the system will place a bid on your behalf every time we launch a new auction provided you have sufficient funds, and aren’t already exposed (either in another running auction, or an existing loan) to that borrower.
Note: you can update your preferences or switch off Autobid at any time. We will remind you if Autobid is switched on every time you visit your investor Dashboard.