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Interest rates and fees

There are some fees associated with our peer-to-peer lending. Whilst we can’t take away fees completely, we can promise that our lending fees are fair, considered and competitive.

There’s nothing vague or hidden with Squirrel and we won’t sting you down the line.

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FundRock NZ Limited is the manager and issuer of the Squirrel Monthly Income Fund. The product disclosure statement can be found here

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FundRock NZ Limited is the manager and issuer of the Squirrel Monthly Income Fund. The product disclosure statement can be found here

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Investor interest rates (returns)

Product Rate description Rate p.a.
Home Loans Up to 7 years 4.75% variable
Construction Loans Up to 2 years 5.25% variable
Personal Loans Up to 7 years 7.75% fixed
Squirrel Monthly Income Fund Target return 1 year New Term Deposit Rate (>$10k) + 2.00%
On-Call account   2.00%

See the Monthly Income Fund disclaimer here.

Investor fees & margins

Fee / Margin Fee / Margin description Notes
Service margin Personal Loans 1.45%-5.95%p.a. of the loan balance deducted from the gross loan repayment.
Home Loans and Construction Loans 0.70%-2.75%p.a. of the loan balance deducted from the gross loan repayment.
On-Call Accounts up to 0.25%p.a. being the difference between the interest rate we receive from the bank(s) where your On-Call Account money is held and the interest rate you earn on your On-Call Account balance. 		 Charged to the investor by deducting from the Borrower's repayments. The applicable service margin is dependent on the risk grade of the Borrower – lower risk loans carry a lower service margin. 
The Prevailing Interest Rate published on our website for each Investment Class or On-Call Account is the rate net of the Service Margin and Reserve Levy (if any). 
Reserve Levy 0.10%-3.25% of the loan balance deducted from the gross loan payment. The Reserve Levy for each loan is dictated by the assessed credit risk of the borrower. Reserve Levies are held on Trust for the benefit of Investors. The Reserve Levy is charged against the gross investor return. The Prevailing Interest Rate for each investment class is the rate net of the Service Margin and Reserve Levy. 
Annual fund charges Peer to peer term investments: no annual fund charges
Squirrel Monthly Income Fund: 2.00%p.a. incl. GST
Squirrel Wholesale Home Loan Fund: 0.25%p.a. incl. GST
Squirrel Wholesale Construction Loan Fund: 0.25%p.a. incl. GST		 Squirrel Monthly Income Fund, Wholesale Home Loan Fund, and Wholesale Construction Loan Fund annual fund charges are deducted monthly from distributions.