Robo.cash lowers interest rates from today

European peer-to-peer lender Robo.cash has lowered its interest rates for investors due to “the disbalance between supply and demand on the platform”.

The firm said that interest rates will now be ranked from eight per cent to 11 per cent, and will affect loans with terms ranging from 31 days to three years.

The changes come into effect today but will not affect users’ current investments.

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Robo.cash interest rates go up as the loan term increases. Its shortest-term loans, of up to 30 days, now offer eight per cent returns, while loans of 31 to 60 days now offer 8.5 per cent.

Loans which mature within 61 to 90 days have an interest rate of nine per cent.

Meanwhile, Robo.cash will offer returns of 9.5 per cent on loans which mature within 91 and 180 days, down from 10 per cent previously.

Loans with a term time of between 181 and 365 days will now offer returns of 10 per cent, down from 10.5 per cent previously.

And loans with a term of between 366 and 720 days will pay 10.5 per cent in interest – down from 11 per cent prior.

“We observe that the disbalance between supply and demand on the platform continues, negatively impacting our investors,” a post on the Robo.cash website said.

“As September brought even higher investor activity, we have decided to lower interest rates on certain loan segments.”

The platform said it will continue to place loans with varying maturities on a regular basis, and “the volume of supply will be regulated by the needs of our creditors and investor demand.”

Robo.cash last lowered interest rates in February this year, but purely for loans which mature within 91 days to three years. This same cohort of loans last saw their returns reduced on 21 December 2022.

Read more: Robo.cash debuts new portfolio option

Earlier this month, Robo.cash reported that its investors funded €22m (£18.8m) worth of loans in August – a record for the platform.