‘Easy access’ investment will be available in a RateSetter ISA
RateSetter has improved customers’ access to their money by removing all early exit fees from its monthly investment market. This means that RateSetter’s 33,000 investors can now benefit from great rates of return combined with easy access to their money.
RateSetter’s monthly market has proven very popular with investors, delivering an average rate of 3.1% p.a. over the last five years. The latest rate can be found here.
As with all marketplace lending, the speed of access to money is dependent on liquidity. RateSetter has managed market liquidity for over five years, the result being that no investor has ever had to wait to withdraw their money from RateSetter. Early withdrawal fees remain in place for RateSetter’s one year, three year and five year investments. More information can be found here. RateSetter is looking at options to simplify the way fees are calculated to provide greater certainty to investors.
The announcement comes less than two months before the launch date for the Innovative Finance ISA (IF ISA) on 6 April and follows the release of information on RateSetter’s forthcoming IF ISA over a week ago. RateSetter has confirmed that customers will be able to invest in any of its markets within an IF ISA wrapper, and thus can benefit from easy access investments with tax-free returns. Continue reading