Robo.cash to lower rates again this month
Robo.cash is lowering its rates again next week in response to increasing demand from investors.
From 24 August, the Croatia-based peer-to-peer lending platform will offer returns ranging from eight per cent to 13 per cent, depending on the duration of the loan being backed.
30 day loans will pay eight per cent, while 31-60 day loans will pay nine per cent, and 61-90 day loans will offer 9.5 per cent returns.
Read more: Robocash names new Asia-Pacific director
Longer-term loans of between 91 and 181 days will pay 11.5 per cent, and loans from 181 days to 365 days will return 12 per cent. 366 to 720 day loans will return 12.5 per cent, while the longest-term loans that the platform offers – from 720 to 1095 days – will pay 13 per cent.
“As a response to the successful performance of Robocash Group and its development, we have been observing an increasing demand from investors,” a platform spokesperson said.
“We constantly optimise our work while serving the needs of our investors. To stay efficient now, we are lowering the interest rates on Robo.cash.”
Read more: Robocash shakes up management team as it gears up for growth
This is the second time that the platform has lowered its rates in two months. In July, Robo.cash said that it was lowering the interest rates on its short-term loans to “increase the efficiency” of the business.
Last month, Robo.cash loans offered returns ranging from nine per cent for a 30-day loan, to 10 per cent on 61 to 90 day loans. This was a drop from the previous rates, which were 10 per cent for loans up to 30 days, 10.5 per cent for terms from 31 to 60 days and 11 per cent for 61 to 90 day loans.
Read more: 20pc of European P2P investors plan to increase their allocations