Hive5 increases interest rates up to 15pc
Croatia-based peer-to-peer lending platform Hive5 has increased its interest rates to between 12.5 per cent and 15 per cent, effective from today.
The new rates apply to any new investments and will not affect existing investments.
The highest rate of 15 per cent is available on business loans offered by originator Finjet ES, with terms of up to three months.
Read more: Hive5 to roll out Polish credit cards
Meanwhile, Finjet ES personal loans, with terms of up to 30 days, offer a 14.5 per cent return.
Ekspres Pocyzka PL business loans up to three months have a 13 per cent interest rate, and the lowest rate of 12.5 per cent is available on Ekspres Pozyczka PL business loans up to 30 days.
Read more: Hive5: Consumer loan demand will remain high in 2024
Hive5 has advised its platform users to adjust their auto-invest functions accordingly.
Hive5 reported a 797 per cent increase in core earnings in the third quarter of 2023.
The firm was one of several to pull out of the Polish market last year ahead of a new law which makes the pan-European P2P lending model impossible to navigate. This law came into force on 1 January 2024.
Read more: Hive5 pays tribute to Polish lenders as it exits market