RateSetter planning term deposit early access feature
The new feature, Early Access Transfer, would allow investors to have their loan interest replaced by another investor.
We understand that life and financial circumstances can change quickly and that sometimes you need immediate access your investment earlier than expected.
That’s why we have been working very hard over the last year – planning, gaining legal advice and building new technology – so we can introduce a new feature called Early Access Transfer to our investment platform. When functioning, this feature would allow investors to have their interests in a loan replaced by another investor, assuming there are sufficient replacement funds on the platform.
We were delighted to this week provide investors with a notice informing them of the details of this proposed feature, as well as some other proposed changes, including in relation to how we charge fees. Investors can vote at a member meeting in October 2018 on whether these changes to the Constitution of the RateSetter Lending Platform should be adopted.
If you are an investor or are considering investing and you would like to know more about the proposed changes, please let us know at membersmeeting at ratesetter.com.au.
This information does not constitute financial advice and you should consider whether it is appropriate to your circumstances before you act in reliance on it. Any opinions, forecasts or recommendations reflect the judgement and assumptions of RateSetter as at the date of publication and may later change without notice.