Questions and answers

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 info@fixura.com. 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).

You can find your personal reference number and the account number to the Fixura customer asset account when you are logged in. Please always use the reference number when you transfer money from your own account to the customer asset account. The money transfer will be available on your Fixura account within a few business days after you have made the transfer.

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 monthly instalments by the borrowers are transferred to the investors Fixura account. The investor may, at any time, withdraw the free capital to their bank account. The transfer takes 2-3 business days and the withdrawal fee is 4 euros. However, the majority of the investors invest the instalments into new loans, which increases return over time.

It is possible for you to activate an automatic monthly withdrawal from your account. You only have to choose how much is transferred monthly to your bank account when enough instalments have accumulated on your investment account.
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.

A borrower may be granted loans mediated by Fixura if the person:

– 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.

The money of the investors is kept at the Fixura customer asset account at Nordea and/or Osuuspankki. The money of the investors is kept separately from Fixura´s money and it is not included in the balance of Fixura.

Investors pay the following costs:
SUBSCRIPTION FEE
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.

Presently it is not possible to sell the loans at the secondary market, in other words, it is unfortunately not possible to close the entire investment at once. If you, for some reason, want to close your investments, it is possible to close the Autoinvest feature and no new investments will be made. You can then withdraw money from the investment account as loans are being repaid.

The average annual rate of return from 2010 to 2017 after fees and credit losses is 8,3%. Please note that the criteria for the investment that have been chosen by the investors themselves affect the return. Please also note that past performance is not a guarantee of/indicative of future results.

There are many different reasons for applying for a loan. Common reasons are to renovate or consolidate previous loans.

P2P investments through Fixura are not covered by deposit-guarantees schemes. However, Fixura is not a party in the debt between the investor and the borrower, which means that if Fixura would become insolvent, this would not affect the contract between the investor and the borrower.

Credit contracts are always made between the investor and the borrower. The debt remains between the investor and the borrower even if Fixura that has mediated the loan would become insolvent.

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.

Yes you can. You can transfer an amount of your choice to your account at any time. Timing is not important when investing in P2P loans. You can transfer a monthly amount of your choice. When you activate the Autoinvest feature the system invests the money in the account automatically into loans. When loans are repaid also instalments and interest are re-invested which constantly grows your portfolio.