Questions and answers
Here you can find the frequently asked questions. If you cant find an answer to your questions below, please do not hesitate to contact our customer support team, we are more than happy to help you.
The minimum age for Fixura investors is 18 years. To be able to invest, you have to be EU citizen and have a bank account within SEPA.
Start by creating a personal profile, complete the client information form and if you have an account at a Finnish bank, you can be identified through TUPAS identification. If not, please attach a colour copy of your valid passport during registration or send it to us by e-mail to firstname.lastname@example.org. When your profile has been approved, you can transfer money and start investing.
We comply with the Act on prevention of money laundering and terrorism financing (444/2017).
Investing money always comes with a certain risk. What applies to other investments, also applies to peer-to-peer loans: bigger return expectations mean bigger risk. Risks that have to be taken into the account when investing in peer-to-peer loans are the risk to lose the capital and the risk that the return may differ from the expected return. The best way to minimize risk is to divide the investments into as many loans as possible.
To minimize the risk of credit loss, Fixura has strict criteria for those who apply for a loan:
– The borrower has to be between 21-68 years of age, live permanently in Finland and have regular income.
– Persons with payment defaults cannot apply for loans through Fixura.
– The same applies for persons who have previously failed to repay their Fixura loans.
– All borrowers will get a credit classification based on the credit information by Soliditet (Bisnode Finland), their assessment of the creditworthiness of the person and statistics of Fixura.
The default risk is based on the statistics of Fixura.
By using the automatic investment feature you can choose your own criteria for the loans you would like to invest. The automatic investment feature invests automatically when money is available on your Fixura account. You may choose the loan period, the lowest interest rate for each risk class and what percentage of your portfolio can be allocated into certain risk classes.
When instalments from these loans are paid, the money is invested into loans again that match the criteria that the investors have chosen. One can say that the investment takes care of itself. The Autoinvest settings can be changed or the feature can be turned off at any time.
Interest is subject to taxation in Finland. Losses from investments in P2P loans are tax-deductible in Finland. You can find more information about taxation at www.vero.fi. Fixura yearly provides the tax authorities with information about interest returns of individuals. Please check your pre-completed tax form from the Finnish tax authorities.
Investors living outside Finland are advised to check the situation with the local tax authorities in their country of residence.
If an invoice is not paid, Fixura will send a written reminder to the borrower two weeks after the due date. Next payment reminder is sent one month after the original due date. If the total amount of unpaid invoices is more than 5% of the original loan amount, the loan will be due for payment as a whole and it will be transferred to a collection agency. If the loan is still unpaid, a judgment can be applied for at the district court that will authorize to claim the debt by enforcement.
When the loan is due for payment as a whole, the interest originally agreed upon can be charged for 180 days. Hereafter statutory late-payment interest will be charged until the debt is paid in full. The borrower pays additional costs that are caused by collection.
The automatic monthly withdrawal can be used also when the Autoinvest feature is activated. Please contact our Customer Support for more information.
Borrowers are divided into five star classes based on risk. A person who applies for a loan can get 1-5 stars. A one-star classification means higher risk and five stars mean lower risk from the point of view of the investor. The credit classification describes the likely payment behaviour and credit risk associated with the loan applicant. One-star applicants are considered as higher risk of credit losses than five-star applicants.
Income and expenses of the applicant and additionally around ten different factors such as place of residence and previous payment behaviour of the applicant determine the credit class. Although an applicant has got a good credit classification, it is not a guarantee of repayment ability or willingness to pay of an individual.
– Is between 21-68 years of age and has full legal capacity.
– Lives permanently in Finland.
– Has clarified their income.
– Does not have any payment default.
– Is not a board member of a company with credit defaults.
– Has internet bank codes to a bank Fixura cooperates with.
Investors whose Fixura investments are below 50.000 EUR pay a subscription fee of 2 % at deposit.
Investors whose Fixura investments are at least 50.000 but below 100.000 EUR pay a subscription fee of 1,5 % at deposit.
Investors whose Fixura investments are at least 100.000 but below 500.000 EUR pay a subscription fee of 1 % at deposit.
If the Fixura investment is at least 500.000 EUR the investor pays a subscription fee of 0,5 % at deposit.
The subscription fee level applied to a deposit is based on the current portfolio value plus the value of the new deposit.
TRANSACTION FEE of 0,9% on fulfilled investments.
WITHDRAWAL FEE 4 EUR /withdrawal to private account.
Losses from investments in P2P loans are tax-deductible in Finland.
Investors from countries other than Finland are advised to consult their local tax authorities in their country of residence.