PEER-TO-PEER business lender Assetz Capital has announced its first-ever rate rise across its access accounts.
The rate increase, which took effect at the start of May, increases target interest rates for the Quick Access Account from 3.75 per cent to 4.10 per cent, while the 30-Day Access Account will see rates rise from 4.25 per cent to 5.10 per cent.
The interest rates will apply to both new and existing investors as well as both ISA-wrapped and non-ISA accounts.
“Since we launched our access accounts we’ve kept the rates consistent – other than for promotions – but we now have the opportunity to raise those rates for the time being and reward investors with even more interest,” said Stuart Law, chief executive at Assetz Capital.
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“The growth of our business continues apace with both borrower demand and people’s investment with us both at record highs.
“We currently have approaching £300m invested through our various investment accounts, and the growth curve remains strong.
“With new ISA investments and transfers from both cash and stocks and shares ISAs continuing to pour in to all of our accounts, we expect this rate rise to further increase this rate of inflow and help us continue to put money to good use in the UK economy through businesses.”