Once you start investing, you will normally receive a monthly payment which consists of the interest and capital owed on your loans. When this reaches your investor account, you are free to reinvest or withdraw the funds as you wish into your nominated bank account.
You can make a one-off withdrawal at any time by logging in, navigating to ‘My Money’ and selecting ‘Withdraw Money’.
If you want to take a monthly income from your account – or avoid building up a large cash balance on your account – you can also use our Automatic Cash Withdrawal function. You can choose from three withdrawal options:
A fixed amount each month: best if you want to receive an income from your FundingKnight account.
All your available funds each month: best to minimise “cash drag” – the impact of leaving cash earning zero interest. (You only earn interest on money lent to borrowers, not on the cash balance on your account).
All but a set amount each month: best if you want to continue investing without letting too much uninvested cash build up.
To use Autobid, you simply need to tell us how much you wish to withdraw, and the day of the month you want your withdrawal to be processed.