Robo.cash trims investor loyalty programme
Robo.cash has revised down the terms of its investor loyalty programme, “to maintain the business health without introducing additional measures to reduce attraction.”
The European peer-to-peer lending platform previously offered an additional interest rate bonus to investors on a tiered basis, with users able to earn a bonus if they had at least €5,000 (£3,871) in their portfolio.
This has now been altered so investors need to have at least €20,000 in their portfolio to earn additional interest.
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“After evaluating our current plans, we decided to revise the terms of the loyalty program and make changes to regulate the demand on the platform,” Robo.cash said.
“It is important for us to keep the program, but also to maintain the business health without introducing additional measures to reduce attraction.”
Previously, investors with €5,000 to €9,999 in their portfolio would be in the ‘bronze’ user category and earn an additional interest rate of 0.3 per cent annually.
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Investors with between €10,000 and €14,999 would be ‘silver’ and earn an additional 0.5 per cent, while those with between €15,000 and €24,999 would be ‘gold’ and earn 0.7 per cent.
€25,000 to 49,999 would put users in the ‘diamond’ category and earn one per cent in annual, additional interest, while those investing €50,000 or more would be ‘platinum’ users and earn an additional 1.3 per cent.
As of 28 August, customers with a portfolio of up to €19,999 will now be deemed ‘standard’ status, with no additional bonus.
Investors with a balance of €20,000 to €49,999 will get the ‘gold’ status with a 0.5 per cent bonus, while those investing €50,000 or more will keep their ‘platinum’ category and receive a 0.8 per cent bonus.
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Investors with ‘gold’ and ‘platinum’ status will also have a personal assistant who can be contacted at [email protected].
Robo.cash users will be able to earn their current bonuses until 28 August, after which date all new loan purchases and repayments will be calculated under the new terms.
The new terms and conditions are posted on Robo.cash’s website in the documents section, along with the current version.
