Squirrel interest rates are great but there's a problem

You can earn up to 8.00% pa by lending with Squirrel invest but there's a problem...
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DISCLAIMER
All personnel that appeared in this video are not financial advisors. This video is not financial advice. All strategies, recommendations and tips are purely based on personal opinions and should be for entertainment purposes only. Please do not invest purely based on information provided in this video. Seek out a qualified financial advisor and carry out your own due diligence before doing any form of investing.
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[@trevenen8882]

Thanks for making the point. I'm planning on getting involved with Sq when the time is right.

[@mauricechong809]

Get the variable loan type and you will get current rates.

[@henkhustle]

Which one do you mean?

[@sphinx1017]

I've just put an order in for the 8%. I've got another for 7.5%. Hope my 8% one gets the 8%!

[@henkhustle]

It took me quite awhile to get the 8%. Need some patience for that. 7.5% pretty much went through instantly

[@georger4840]

Is the Squirrel Monthly Income Fund a good option...better/easier option??? The fund is aiming for a return of 4% > OCR, now at 5.50%. Only need to give 30 days notice to withdraw

[@henkhustle]

I only know of their interest on their on call account which is at 5.25% at the moment

[@nicky-mariehitaua502]

Any updates on this?

[@henkhustle]

There has been some changes to the system but to be fair the same problem still exists

[@Carpathianrelinquished]

No they aren’t great! We tried to get a bridging loan through them 11% plus charges all in of $29k incl admin…..FGS companies like this need to be REGULATED. Needless to say we told them to get lost. Greedy and unscrupulous. I have written to NZ financial ombudsmen about them today.

[@henkhustle]

In all honesty I'm more just looking from investor point of view. I never borrowed from them so not familiar with what they are like on that end