Why invest through Squirrel Money?
To make your money work harder so you don't have to. We believe there are a number of great reasons to invest with Squirrel Money so you can live life at your rate.
Our Investors choose the minimum interest rate they are willing to accept on their investments between a range of 7% and 9% p.a., depending on the investment term. To date, our Investors have earned an average net return of 8.6% p.a. We're pretty proud of these returns and believe them to be hard to beat.
Loan Shield lowers risk for Investors
To help protect our Investors’ money, we put aside part of a Borrower’s interest payment into a reserve fund held in a separate trust (that we call Loan Shield) which is there to cover the expected credit losses. This essentially means Investors don’t need to actively diversify their investments within the Squirrel Money platform by spreading their money across a number of loans and individually assessing the credit risk of each loan they choose to invest in. It also means that if a Borrower misses a repayment, that repayment should be covered by Loan Shield and as an Investor, you would receive the regular payment you were expecting on time and in full (provided the reserve fund has sufficient funds available).
Read more about Loan Shield and how it helps to protect your invested funds.
We aim to lend to quality, creditworthy Borrowers
Our Borrowers are credit assessed prior to approval and allocated a risk grade based on their strength across a range of credit criteria including their capacity to service ongoing loan repayments. Their allocated risk grade will determine the level of reserve levy that is applied to their loan and therefore determine the Borrower’s overall interest rate.
The majority of our loans (circa 85% - 90% in fact) are given to A, B and C grade Borrowers. These Borrowers have strong credit scores, solid credit histories and a record of repaying debt without missing any repayments. They also typically have a strong income and debt servicing capacity and our A and B grade Borrowers are often homeowners or have evidence of other tangible assets (note: these assets are not necessarily used as security against the loan issued).
Get to know our Borrowers here.
The power to get your money out early - Secondary Market
We get that sometimes things can change. We provide a Secondary Market which gives Investors the opportunity to seek to sell an investment at any time. In this case, we’d attempt to match your investment with other Investors who are happy with your existing investment terms and are keen to take it on. Please note that the Secondary Market relies on other willing Investors taking up the loans put up for sale. If no willing Investors are available, the original Investor may not be able to transfer their interests in a loan and may be required to remain invested in that loan for its full term.
For more information on the rules that apply when selling an investment, read our Secondary Market Policy. For details about the fees associated with selling an investment via the Secondary Market, please review the Fees section of our website.
Manage your investment anywhere, any time
Once you’ve set up your investment entity in our platform, the Squirrel Money app will let you quickly and easily manage your ongoing investments. Manage. View. Stay updated. All of this power in the palm of your hand.
Why borrow through Squirrel Money?
If you’ve got good credit, we’re pretty certain you won’t find better rates elsewhere. And the rate is fixed for the life of the loan so your repayments won’t change. So when we say we offer great rates for great borrowers, we mean it. With rates starting at just 8.95% p.a. we'll help you get the most out of life. Click here to check out how our rates stack up.
Flexibility and choice
Choose a loan term of 2, 3 or 5 years and a payment frequency that works for you. Plus we won’t sting you for paying your loan back in full whenever you like. Borrow anywhere from $3,000 to $70,000. That should be enough to replace that hideous carpet in the living room.
Our fees are easy to understand and very competitive. You can even repay your loan in part or in full whenever you like at no extra cost.
What you'll need to apply
Your whole application is done online in a matter of minutes, so you can do it anywhere, anytime. Just make sure you have the following items handy. An online banking account (or 3 months’ bank statements and payslips) and a NZ Driver’s license or NZ Passport.
With interest rates (and rental yields) trending ever lower the opportunity to get a retur...Read More ›