Tagged: interest rates

Raisin: Savings Rates Rise During COVID Even While Interest Rates Drop

Fintech Raisin has distributed a report on European interest rates. Raisin provides a service that enables consumers to compare and select higher rate return savings accounts. Raisin notes that the savings rate has risen during the COVID-19 crisis, meanwhile inflation and interest rates are down,… Read More

Indian Fintech Lenders are Concerned About Poor Monetary Transmission by Banks and Capping of Interest Rates: Report

Indian Fintech firms that issue loans to SMEs have welcomed the government’s efforts to provide greater liquidity to the banking system. However, financial technology companies are concerned about the poor monetary transmission by local banks and the capping of interest rates. India’s non-bank lenders have… Read More

RateSetter Reduces Interest Rate Paid to Investors, Sends Balance to Provision Fund

UK-based peer-to-peer lender RateSetter announced on Monday it is making changes to its provision fund as well as reducing interest rates. This course of action was caused by the COVID-19 pandemic. According to RateSetter, investors will receive only 50% of their interest with the other… Read More

Australian Digital Bank Up Slashes its Savings Interest Rate, Following Reserve Bank’s Recent Cuts

Up is the latest digital banking service provider to slash its savings rates following the Reserve Bank of Australia’s recent cut to the nation’s official interest rates. The Melbourne-headquartered neobank has adjusted the maximum rate on its Saver Account. The new rate has been marked… Read More

California-based Fintech Wealthfront, a Robo-Advisor, is Reportedly Inching Closer to Becoming a Digital Bank

Palo Alto-based Wealthfront, an automated investment service company with over $11.4 billion in assets under management, is reportedly getting closer to becoming a full-service digital bank. Wealthfront already provides most of the bank-like services including insured savings accounts. The “Cash Account” is offered by Wealthfront… Read More

Starling Bank Revises Interest Rate on Credit Balance For Free Currency Accounts Following Bank of England’s Decision to Cut Interest Rates During the Coronavirus Outbreak

UK-based digital banking group Starling Bank announced over the weekend it is revising the interest rate it pays on credit balances on its free current accounts, following the Bank of England’s (BoE) decision to cut interest rates amid the coronavirus outbreak. Starling reported that theBoE… Read More

Funding Circle Announces Interest Rate Changes

Peer-to-peer lending platform Funding Circle announced on Monday it is making changes to its interest rates. The lender stated that it regularly reviews the rates and takes into account various factors, which includes macroeconomics trends. It was revealed: “At Funding Circle, our aim is for investors… Read More

Zopa Cuts Lending Rates Following Bank of England’s Interest Rate Decrease

On Thursday, peer-to-peer lending platform Zopa announced it was making changes to its lending rates. This news comes after the Bank of England made the decision to cut interest rates. At the time of the interest cuts, The Monetary Policy Committee (MPC) released the following statement:… Read More

Assetz Capital Reports: Peer-to-Peer Lending Expected to Thrive As Bank of England Slashes Interest Rates

Assetz Capital one of the UK’s largest peer-to-peer lenders, announced it is predicting that both savers and borrowers will continue to turn to alternative finance companies in increasing numbers as Bank of England slashes interest rates from 0.5% to 0.25%. The website reported, peer-to-peer lending platforms remain largely untouched… Read More

Will the Federal Reserve Raise Rates? And What Does this Mean for Small Business?

The Federal Reserve Open Market Committee (FOMC) convenes today to discuss and determine if interest rates need to rise. Recent geopolitical realities, such as the ECB going all in as growth sputters, have pushed most Fed watchers into the camp that rising rates are on… Read More

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