RateSetter removes early exit fees from monthly market

By Luke OMahony

RateSetter has improved customers’ access to their money by removing all early exit fees from the monthly investment product from Tuesday 16 February 2016.

Ever since our launch in 2010, we have been proud to lead the way in innovation. We pioneered the concept of a Provision Fund to protect investors and were the first in our sector to introduce a monthly investment market.

As our customer base continues to grow strongly and our market broadens and deepens, we are delighted to again lead the way by combining attractive returns for investors with free and fast access to their money.

This means that RateSetter’s investors can now benefit from great rates of return combined with greater 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.

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 accessible investments with tax-free returns.