8th May 2017
Easy-access accounts are less lucrative and riskier for peer-to-peer investors, new research claims.
A number of P2P platforms offer easy- or free-access accounts, which attract investors who want the option to withdraw their money swiftly. However, lenders who choose these accounts earn nearly two per cent less interest per year and early access is not guaranteed, warns 4th Way. The independent P2P research and ratings firm found that the average interest rate on accounts that offer free early access is 3.16 per cent, while the average rate on other P2P accounts is 4.91 per cent – a 1.76 per cent increase.