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Yomo Community

We're fixing saving. 3% interest rate. Easy access. Start from £100 with no maximum. No lock ins. No fees and no tricks.

Yomo Community / General

How do we pay 4% interest?

How do we pay 4% interest?

Yomo Community / General · August 16, 2018 at 2:42pm(Edited 1 month ago)
Our mission is to fix saving. First step: interest rates.
Banks collect savings and put it to work to earn a return. They make money by earning more on the loans they provide than they pay to the people whose savings they hold.
But there is another type of financial institution called a prime broker that most people don’t know about. Prime brokers are similar to banks in that they earn money by providing loans, amongst other things. However, they typically operate in a higher return end of the market, and usually work with high net worth individuals and hedge funds.
We have partnered with a prime broker to provide this 4% fixed return. They are able to earn higher returns on the funds they hold, and we pass those on to our users. They also pay us a fee, which allows us to make money to cover our costs and reinvest in the product.
By taking a revolutionary approach, Tplus is bringing the financial products of the wealthy to the everyday saver for the first time ever.
Tplus. We're fixing saving.
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