AC - QAA a staggering 3.75% Sept 7, 2015 15:46:07 GMT
Post by star dust on Sept 7, 2015 15:46:07 GMT
Just got the following email:
"The Assetz Capital 'Quick Access Account' will launch tomorrow!
We are delighted to announce that from tomorrow, you and your peers will be able to invest in our brand-new Quick Access Account (QAA) via Assetz Capital's platform.
The QAA has been designed to be the most client-friendly account in the UK P2P market by offering our lenders unprecedented liquidity and ease of access. This revolutionary account allows the majority of investors to sell loans for cash on the same day as their request to exit in normal market conditions.
In return for this exceptional level of liquidity, the QAA offers a capped, target rate of 3.75% a year (before tax and any loan losses). In addition, this new account includes a discretionary Provision Fund to reduce the risk of loss to our lenders.
What's more, the QAA automatically diversifies your money across a wide range of loans and businesses. This enables you to spread your risk quickly and easily, diversifying into many different loans without having to monitor new loan launches manually. For example, this broad spectrum of business borrowers includes firms from manufacturing, service and distribution sectors.
In short, we at Assetz Capital have come up with a highly innovative account that combines fair, risk-adjusted rates of return with rapid access to your cash in normal market conditions and built-in diversification.
Here are the main features of our new Quick Access Account:
A capped, target interest rate of 3.75% a year (before tax and any loan losses). This rate may vary each month, as notified on the first day of each month, but will not fall below this target rate.
Unprecedented liquidity and ease of access. In normal market conditions the majority of lenders will be able to exit QAA loans for cash on the same day as their request to sell. This is much faster than the typical speed of access allowed by many other P2P-lending platforms. The QAA will also hold a substantial cash balance to facilitate the quick access.
All loans are automatically included in a separate, discretionary Provision Fund intended to help to protect lenders from income delays and income and/or capital losses in the Quick Access Account.
All loans included in the QAA are highly secured against loss with realisable security against borrowers' assets. In order to reduce potential losses to lenders, we will often take additional security on top.
All QAA loans can be tracked, monitored and managed via our comprehensive and market-leading portal.
Interest is earned and paid to QAA lenders monthly, on the first day of each month.
QAA loans may range in duration from one month to five years, but in normal market conditions most loans can be sold for cash on the same day exit requests are made.
All loans in the Quick Access Account are also available for individual selection through the Manual Loan Investment section of your Loan Dashboard. However, lending via the QAA means that your money is automatically diversified across a broad range of loans, thus spreading your risk across a portfolio of loans.
Lastly, always remember that peer-to-peer business lending involves making loans to British firms. Loans can last up to five years in duration. Therefore, P2P lending is not well suited to shorter-term investors, unless a liquid secondary market exists for selling on loans so as to cash out and exit early.
To sum up, why leave your money not growing and not earning interest, when tomorrow you can start earning up to 3.75% gross a year in our fast and flexible Quick Access "
hmmm... 3.75% can't wait to invest , but tomorrow would be even better if some of the promised upcoming loans could drawdown!