Robo.cash has reduced its target returns by up to 1.5 per cent for its short-term loans over the last year, while longer-term loans have held their value.
The European peer-to-peer lending platform changed its rates on 5 April and on 25 November 2021. The platform also announced a rate change which came into effect on 10 January this year.
An analysis by Peer2Peer Finance News has found that for loan terms up to 30 days, Robo.cash has cut interest rates from 10.5 per cent in April to 10 per cent in November and then to nine per cent on 10 January.
From 25 November to 10 January interest rates fell for loans within three other terms. For loans within 31 to 60 days rates declined from 10.5 per cent to 10 per cent, while for those within 61 to 90 days rates decreased from 11 per cent to 10.5 per cent. For loans within 91 to 180 days rates dropped from 11.5 to 11.25 per cent.
Meanwhile, from 5 April to 10 January onwards, interest rates for loans with a term time of between 181 and 365 days have remained the same at 12 per cent, and rates for terms of 366 to 720 have stayed the same at 12.3 per cent.
The platform’s interest rates now range from nine per cent to 12.3 per cent, depending on the term time chosen.
Read more: Robocash broke financing record in November