Automation is one of the most powerful tools for investors today. When we remove ourselves from the equation we avoid the distractions that get in the way of accumulating wealth. At Bondora, we want to put automation to work for you.
How to set up your recurring payment
We’ve added a simple new feature which allows you to set up recurring payments from your bank to your Bondora investment account. When you login to your Bondora account, go to the “Add Funds” tab on your Dashboard. Below you’ll notice a checkbox for “Make payment recurring.”
With this checkbox selected, setting up a recurring payment is as easy as making a regular credit or debit card payment.
- Choose the deposit amount.
- Choose a period for the recurring payment.
- Choose a payment day.
- Click on “Make a deposit with credit card”.
After that you are asked to provide your card details and authenticate the payment.
Automation makes it easy to contribute even small amounts today. Over time the account grows from your regular contributions and your compounded returns. Even small weekly amounts can make a big difference. Why? One study showed that someone at the age of 25 contributing €75 per month will see their account grow to €263,571 by 65 based on an 8% rate of return. If you wait until you’re 35, the total reaches only €150,030 under the same conditions.