Robo.money has revised down the phrases of its investor loyalty programme, “to take care of the enterprise well being with out introducing further measures to scale back attraction.”
The European peer-to-peer lending platform beforehand supplied an extra rate of interest bonus to buyers on a tiered foundation, with customers in a position to earn a bonus if that they had no less than €5,000 (£3,871) of their portfolio.
This has now been altered so buyers have to have no less than €20,000 of their portfolio to earn further curiosity.
Learn extra: Robo.money debuts new portfolio possibility
“After evaluating our present plans, we determined to revise the phrases of the loyalty program and make modifications to manage the demand on the platform,” Robo.money stated.
“It can be crucial for us to maintain this system, but additionally to take care of the enterprise well being with out introducing further measures to scale back attraction.”
Beforehand, buyers with €5,000 to €9,999 of their portfolio could be within the ‘bronze’ consumer class and earn an extra rate of interest of 0.3 per cent yearly.
Learn extra: Robo.money sees €600m of loans funded in first quarter
Traders with between €10,000 and €14,999 could be ‘silver’ and earn an extra 0.5 per cent, whereas these with between €15,000 and €24,999 could be ‘gold’ and earn 0.7 per cent.
€25,000 to 49,999 would put customers within the ‘diamond’ class and earn one per cent in annual, further curiosity, whereas these investing €50,000 or extra could be ‘platinum’ customers and earn an extra 1.3 per cent.
As of 28 August, clients with a portfolio of as much as €19,999 will now be deemed ‘normal’ standing, with no further bonus.
Traders with a stability of €20,000 to €49,999 will get the ‘gold’ standing with a 0.5 per cent bonus, whereas these investing €50,000 or extra will maintain their ‘platinum’ class and obtain a 0.8 per cent bonus.
Learn extra: Robocash Group revenues rose 16.2pc final yr
Traders with ‘gold’ and ‘platinum’ standing can even have a private assistant who could be contacted at my.assistant@robo.money.
Robo.money customers will have the ability to earn their present bonuses till 28 August, after which date all new mortgage purchases and repayments will probably be calculated below the brand new phrases.
The brand new phrases and situations are posted on Robo.money’s web site within the paperwork part, together with the present model.