The easyMoney Innovative Finance ISA will target a 4.05% return.
A new, but well-known, player has entered the fintech market. easyMoney, part of Sir Stelios Haji-Ioannou’s ‘easy’ fleet of sub-brands, has launched with an Innovative Finance ISA, offering investors a current target 4.05 per cent annual interest rate.
The easyMoney ISA, the firm argues, will build on the same “market-disrupting approach pioneered by easyJet” and be part of a fleet of low-cost financial services to be launched under the franchised ‘easy’ brand.
The firm continued in a statement: “Just as easyJet made European air travel accessible to everybody, easyMoney aims to make improved personal finance products available to all.”
easyMoney gives investors direct access to loans secured against UK property, secured by a first legal charge over a property.
Sir Stelios Haji-Ioannou, founder of easyJet and owner of the ‘easy’ brand, went on to say retail investors in the UK have gone almost a decade without real interest rates – suggesting demand could be strong.
“With the easyMoney Innovative Finance ISA, we’re offering something new and taking on the big boys,” he said.
Andrew de Candole, CEO of easyMoney says: “Financial services in the UK are in desperate need of a shake-up. Like European air travel 23 years ago, the ISA market is crying out for someone to give everyday investors more for their money.”
“We’re offering a clear, simple alternative to a cash ISA for investors looking for real returns in exchange for a little more risk. The inflation-busting interest rates we target are streets ahead of anything the banks could contemplate.”
Find out more about the Innovative Finance ISA with our first IFISA Special Report.