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If you are a Prosper lender but also have a loan, here is something interesting I learned recently: you can make a payment on your loan directly from your Prosper account.

I wasn't aware this was possible. I have always had my payments automatically deducted from my account and never bothered to look at the "make a payment" link under My Account > Borrowing. But when I was researching the recent post I wrote on "Snowflaking" I discovered this was in fact possible so I thought I would pass it on to those that didn't know including me.

I've acutally withdrawn money from my Prosper account to my bank account in preperation for a payment, now I don't have to because you have 2 options for making a payment:

  • Paying down your loan by a certain amount
  • Making your next payment

I'm going to start using this!


At August 2, 2008 at 9:52 AM Anonymous said...

Fascinating find! I believe I will try it next week. However, there has to be some sort of minimum for this as I hve around $15 in balance in my lender account, so could we assume $25 is the min.? Thanks!


At August 2, 2008 at 1:31 PM Anonymous said...

When will Prosper start making this mandatory, ie taking money from the prosper accounts of late blenders? Was promised over a year ago. Never implemented.


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