PeerBerry lowers interest rates and adds new lender onto platform

PeerBerry, the European peer-to-peer lending marketplace, has announced changes to interest rates and added Ecommoney from Kazakhstan onto its platform.

The Aventus Group lender will start offering up to 12 months term loans with a 9.5 per cent annual return. The loans are categorised as long-term and are backed by a buyback and group guarantee, PeerBerry said in a post on its website.

Ecommoney, which currently has 10 employees, was founded in October 2023 and its portfolio to date amount to €500,000 (421,060).

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At the same time PeerBerry has announced that it will be reducing the interest rates for investing in some of the loans on the platform from 14 June.

The new interest rates range between 9 per cent and 10.5 per cent. Previously, the highest interest rate available was 12 per cent.

“The decrease of interest rates on the PeerBerry platform is a business decision on the lenders’ side,” a spokesperson said. “This decision is based on our lenders’ borrowing needs, which are currently lower. Also, it is a classic strategy to balance the demand/supply ratio on the platform – currently, the demand to invest on the PeerBerry platform is very high.”

The adjusted rates will apply to new investments and will not impact any current investments. The platform also warned that the availability of loans with the highest interest rate is limited.

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