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What is cashback?

A loan which is listed as having a % of cashback indicates that when that business accepts the loan terms, the investors who have placed successful bids on that loan will receive a promotional payment credited to their Funding Circle account which equals the % stated of the value of their bid.

For example, if you placed a bid of £20 on a loan with 1% cashback, and it is accepted, you will receive a credit of 20p when the loan is accepted.

The cashback is a one off payment credited to you when the loan offer is accepted, and it is not an interest rate that is added on top of your accepted interest rate.

Investors do not need to do anything to receive the cashback, as it will be automatically credited to the account as soon as the borrower accepts the loan offer.

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