Yield, in P2P lending, is the income earned on an investment before accounting for the costs incurred (see ROI). Yield is expressed as a percentage and can be calculated annually or as the lender’s expected total profit when the loan matures (yield-to-maturity). In most cases, the yield reflects the loan interest rate. Still, sometimes it’s used in other contexts – for example, in buy-to-let projects, the yield will equal the estimated income from rent plus the expected increase in the underlying property value.