Property investment platform GetGround has unveiled its first general investment account (GIA) to enable BTL property investors and landlords to maximise the growth potential on their rental income and cash holdings.
GetGround customers — who see an estimated £250m flow through their business accounts annually — can now transfer cash, including rental income and business savings, into their GIA (also called investment pots) to start earning a 4.21% variable annualised return on investment.
Transfers in and out of GIAs are free of charge, and there is no maximum cap on investment.
Withdrawals can be triggered anytime, with cash returned to the customer’s business account within four working days.
The new GIA has seen significant demand from BTL property investors and landlords, with £1m having been invested already by GetGround’s customers during the 10-week testing phase carried out ahead of the launch.
Moubin Faizullah Khan, CEO and co-founder of GetGround (pictured above), commented: “Over the years, as the volume of cash sitting in our investors’ individual business accounts has grown, so too has the length of time these funds sit in wallets doing nothing.
“We want to challenge this passive treatment of cash by creating a simple alternative that requires minimal effort.
“Whether it’s earning a bit of a return before making annual tax payments or accumulating a larger return to contribute to an off-plan purchase, our investment pots help our customers to make their money work harder when they don’t need it, and get it back swiftly when they do.”
