Assetz Capital extends interest rate promotion due to “strong demand”

By Moriah Costa on Friday 12 May 2017

Alternative Lending

The peer-to-peer lending platform is extending access to its 30-day access accounts that offer a return of 4.75 per cent.

Investors can continue to make an even bigger profit from investing in small companies, as P2P lender Assetz Capital has extended the deadline for its 30-day access account.

The promotional rate, which was extended to midday 6 June, gives investors a targeted, capped return of 4.75 per cent per annum, compared to its original target of 4.25 per cent.

Since launching the promotion in April, over £15m worth of funds have been invested, the company announced on Friday. The promotion proved popular almost right away, raising £10m in just three weeks

"To reach £15m in just a matter of weeks is testament to the popularity of this rate increase and by June 6th we expect over £30m of new investment to have flowed into the 30 day access account,” said Stuart Law, CEO of Assetz Capital.

Investors who take advantage of the promotion before the deadline will have access to the new rate for 90 days before it returns to its original rate. The interest is paid out on a monthly basis.

The company has invested over £235m since its launch in 2013. It has made its 18,000 registered investors a gross interest of over £20m, the firm says.  Investors can invest as little as £1 in a portfolio of diverse business loans, including long and short-term loans. 

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