Assetz Capital, a UK-based peer-to-peer finance platforms, has raised the interest rate on its 30 Day Access Account (30DAA) by 0.5% to 4.75% for a limited time. The 30DAA allows peer-to-peer lenders to invest automatically in loans and features automatic diversification to spread risk.
The promotional rate allows investors to take advantage of the new rate and will benefit from a capped return of 4.75% for up to 90 days after an investment is made. After this, the account will return to its original rate of 4.25%. The promotion runs until midday of May 11, 2017.
Stuart Law, CEO of Assetz Capital, said the 30 Day Access Account, had been very popular since its introduction nearly a year ago.
“Recently Assetz Capital has experienced particularly strong growth in borrower demand as a business and has flourished whilst many other platforms have struggled, which has led to some of them dropping rates on their key accounts.”
Assetz Capital explains that the 30DAA invests in both short and long-term loans and interest is earned and paid monthly. The account always retains substantial cash balances in order to facilitate quick access in normal market conditions for investors who require their investment back on the 30 days’ notice, although access times cannot be guaranteed.
Assetz Capital states it has over 18,000 registered investors and to-date over £235 million has flown through the platform, earning investors a total gross interest of over £20 million.
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