What an advertised P2P rate actually leaves you
Every platform quotes a target. Defaults, idle cash and fees take a slice of it. This works out the three scenarios and puts them next to a 7 percent ETF and a 2.5 percent deposit.
What the three scenarios mean
The deductions are not invented for this page. They reflect the gap between advertised and realised returns that platforms in our table actually report.
| Scenario | Deducted from the advertised rate | When it looks like this |
|---|---|---|
| Mild losses | 0.6 to 0.8 points | A good year on a platform with real underwriting and steady loan supply |
| Typical losses | 2.2 to 2.5 points | The normal case across established platforms once defaults and idle cash are counted |
| Bad year | 5.5 to 6.0 points | Defaults cluster, recoveries drag, cash sits waiting for loans |
None of the three models a platform failure. If the platform itself stops operating, the arithmetic above stops applying and the question becomes how much of your capital comes back through an insolvency process. Past collapses in this sector returned between nothing and roughly 58 cents on the euro.
Reading the result honestly
Compare the "typical losses" figure against the deposit line rather than against the advertised rate. That is the real decision: you are giving up a protected 2.5 percent to take unprotected credit risk, and the number in the middle column is what you are being paid for it.
Maclear reports what it pays
On our scoring Maclear takes the highest return-honesty mark in the table: realised returns have matched the advertised 14.5 to 14.9 percent. It also has no compensation scheme, which is why it scores 65 percent overall. The full review sets out both sides.
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A calculator is a model, not a forecast. It assumes interest is reinvested at the same rate and ignores tax, which in most EU countries takes a further share of the income.