Kuflink has become the latest peer-to-peer lending platform to raise its interest rates for investors.
The real estate lender now lists target rates at 9.73 percent a year, up from its previous target of 8.05 percent a year. These fees refer to the maximum amount that can be earned through five-year accounts on the platform.
The rate hike is in response to investor feedback and continued central bank rate hikes.
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“Our investor relations team is constantly in touch with our investors to discuss how we can improve the services we offer through our platform. We have always listened to what our investors have been telling us,” said Paul Auger, Chief Product Officer from Kuflink. .
“To ensure we can continue to provide the same great service as our investor base grows, we recently hired two new team members to continue providing the high level of service our investors deserve.
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“Our survey, which was conducted as part of our consumer duty responsibilities, also reconfirmed that we must continue to review the interest rates we offer to our investors, as well as the rates we charge borrowers.”
Auger added that Kuflink has also introduced a “promotional rate increase” until May 30, 2023, which will ensure that investors “continue to outperform the returns they can expect from banks and building societies.”
Several P2P lenders have increased their investment rates in recent months. Loanpad introduced a series of monthly fee increases last year, and CrowdProperty last month increased its fees to between 7.5 and 8.5 percent, from 6.2 percent to 7.8 percent previously.
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