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Peer2Peer Finance News | October 22, 2018

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Assetz Capital boosts rates by 0.5 per cent

Assetz Capital boosts rates by 0.5 per cent
Kathryn Gaw

ASSETZ Capital is offering all investors an extra 0.5 per cent in interest on newly-lent funds until 2019, as part of a new Summer Rate Boost promotion.

The interest offer is available to both new and existing investors and will be automatically added to any new funds which are lent on the platform until 31 August 2018. The 0.5 per cent boost will also apply to the platform’s Innovative Finance ISA (IFISA) accounts, and it will remain in place until 4 January 2019.

“With our rapidly expanding investor base and growing loan book, we wanted to reward our investors and celebrate all the success that we’ve had so far this year,” said Stuart Law (pictured), chief executive at Assetz Capital.

“It really couldn’t be easier to take advantage of the rate boost with all our investment accounts being automatically eligible. We hope all our investors – both new and old – make the most of the additional interest on offer.”

The Summer Rate Boost comes three months after the platform increased the target rates on its Access Accounts, with the Quick Access Account and 30 Day Access Accounts now offering 4.10 per cent and 5.10 per cent, respectively.

According to company figures, investors added more than £10m to those accounts in the first month following the rise.

Earlier this year, Assetz announced that it had broken a series of funding milestones, and Law added that the rate boost is a way of thanking the platform’s investors.

“This promotion follows a brilliant few months on both sides of the business. We have seen over £50m invested in our ISA – with over £12.5m coming from transfers,” he said. “We also hit £500m lent in May.

“Alternative finance and peer-to-peer lending are having a significant positive impact on the UK economy and we are leading the charge.”

Read more: Development finance helps Assetz reach £500m lending milestone