easyMoney, part of Sir Stelios Haji-Ioannou’s easy family of brands, is launching in the UK on Saturday (February 24 2018) with an Innovative Finance ISA, offering everyday investors a current target 4.05% annual interest rate.
The easyMoney ISA, the first of many products planned by easyMoney, builds on the same market-disrupting approach pioneered by easyJet. Just as easyJet made European air travel accessible to everybody, easyMoney aims to make improved personal finance products available to all.
“Everyday investors in the UK have gone almost a decade without real interest rates.” Sir Stelios Haji-Ioannou, founder of EasyJet and owner of the easy brand, says. “With the easyMoney Innovative Finance ISA, we’re offering something new and taking on the big boys.”
The easyMoney Innovative Finance ISA is aimed at investors across the UK who have had enough of the poor interest rates offered by cash ISAs and are nervous about the potential volatility of most Stocks & Shares ISAs.
At present, the best easy-access cash ISA offers just 1.21% interest, while inflation stands at 3%, meaning that savers are losing money every day in real terms.
Andrew de Candole, CEO of easyMoney says: “Financial services in the UK are in desperate need of a shake-up. Like European air travel 23 years ago, the ISA market is crying out for someone to give everyday investors more for their money.”
“We’re offering a clear, simple alternative to a cash ISA for investors looking for real returns in exchange for a little more risk. The inflation-busting interest rates we target are streets ahead of anything the banks could contemplate.”
easyMoney can offer access to far higher interest rates than Cash ISAs offered by the high street banks because it:
• Has no costly branch networks to maintain like the high street banks
• Does not have the significant maintenance expenses of out-dated computer systems suffered by most banks
• Is not subject to expensive capital requirements that apply to banks in order to protect investors
• Gives investors direct access to loans secured against UK property, allowing investors to ‘become the bank’
Whereas easyJet has easyJet plus, which gives passengers speedy boarding, easyMoney has ‘easyMoney plus’, which gives instant discounts of between 3%-55% at over 100 of Britain’s biggest retailers. These perks alone can save hundreds of pounds a year.
easyMoney plans to grow the range of personal finance products offered through its cutting-edge fintech platform, increasing efficiency and passing on the savings.
easyMoney is committed to providing outstanding customer service, offering phone lines and Live Chat open 24 hours a day, seven days a week.
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