This will allow users of the CRED app to lend money to each other at an interest rate of up to 9% annually. The feature has been launched in partnership with P2P non-bank LiquiLoans and will allow users to ‘invest’ anywhere between EUR 1.150 to EUR 11.500 of their savings in a capital pool. This pool will then be used to lend to other CRED users, who are seeking a personal loan.
These loans will be disbursed at a 12-13% interest rate annually, of which up to 9% interest rate will be rewarded to those investing in the product.
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