Recently I opened an account at p2p lending marketplace Assetz Capital to gain some first hand experiences. Assetz Capital offers secured business loans to small and medium British SMEs. I decided to start with the 30 days access account as it is mostly hands off and deposited a tiny amount, which was credited within an hour. It currently offers a promotional target rate of 4.75% (instead of 4.25%) and allows to withdraw funds with 30 days notice in normal market conditions. Investors, who want to benefit from the promotional rate need to act now, as it is only applicable for deposits made until 11.59am on 6th June 2017 and is valid for a maximum of 90 days from the date of the deposit.
Assetz Capital has a minimum investment amount of 1 GBP. Assetz is open to international investors, but a UK bank account is required. If you do not have one, I suggest opening one at Transferwise. (UPDATE: but do check comment below this article, also see my Transferwise Borderless account article). All Assetz Capital (except the MLIA) investment accounts are protected by a provision fund. There are no fees for investors.
Assetz Capital says the 30 days access account is extremly popular with investors. Since the promotion offer was launched 7 weeks ago, 23 million GBP have been deposited in this account. Assetz also offers a quick access account with 3.75% target rate, designed to provide immediate access to cash, in normal market conditions, for investors. Currently 19 million GBP are invested in this account. Further account types are the ‘Great British Business Account’ (GBBA) with 7% target rate, the ‘Green Energy Income Account’ (GEIA) with 7% target rate and the ‘Manual Loan Investment Account’ (MLIA) with 5.5% to 18% gross rate. See comparison of Assetz accounts. Assetz also features a secondary market without fees providing liquidity.