EASYMONEY, part of Sir Stelios Haji-Ioannou’s ‘easy’ family of brands, has launched in the UK with an Innovative Finance ISA (IFISA) offering a target rate of 4.05 per cent a year.
Customers’ money will be diversified across multiple property-backed peer-to-peer loans.
EasyMoney said the product is aimed at investors who have had enough of the poor interest rates offered by cash ISAs and are nervous about the potential volatility of stocks and shares ISAs.
Andrew de Candole, chief executive of EasyMoney, said that financial services in the UK are in desperate need of a shake-up.
“We’re offering a clear, simple alternative to a cash ISA for investors looking for real returns in exchange for a little more risk,” he added. “The inflation-busting interest rates we target are streets ahead of anything the banks could contemplate.”
Investors can also join EasyMoney plus, which gives instant discounts of between three and 55 per cent at more than 100 of Britain’s biggest retailers.
Haji-Ioannou said: “With the EasyMoney IFISA, we’re offering something new and taking on the big boys.”
The strong brand recognition of the ‘easy’ family could help to boost awareness of P2P lending in the mainstream investment space.