Updates about Short term loan rate and Loyalty membership
Hello, there are two important updates to share with you all.
1. Wandoo Spain short term loan rate change:
Starting November 14th, Wandoo Spain short term loans will have new interest rate in Swaper. Instead of 12% (14% for Loyal members), we are switching to 10% (12% for Loyal members). This decision is a part of Wandoo fundraising strategy, responding to the increasing demand for new loans and current cash drag situation on the platform.
NB! Long term loans and Short-term business loans remain as they are! To make it easier for you, here is the breakdown of the products and the interest rates in Swaper Platform starting November 14th:
| Product type | Interest rate |
|---|---|
| Short-term loans (Wandoo Peru consumer loans) | 10% (12% for Loyal members) |
| Short-term loans (Wandoo Spain consumer loans) | |
| Short-term Business loans | 12% (14% for Loyal members) |
| Long-term Business loans (12 months) | |
| Long term Business loans (24 months) | 14% (16% for Loyal members) |
| Car Leasing | 10% |
These changes are continuous adaptation to the ever-increasing cash drag due to the high demand for new loans.
2. Swaper Loyalty membership changes
Starting January 5, 2026, we are amending Swaper Loyalty membership terms.
All Loyal members will have to reach 25 000 EUR account value, including legacy users, who had their Loyalty membership enabled when they reached 5 000 EUR account value. Therefore, if you are a Loyal member and your account value is below 25 000 EUR, to keep the Loyalty membership after January 5, 2026, you must reach the unified standard of 25 000 EUR.
The other change in Loyalty membership is that starting January 5, 2026, if you withdraw money and your account value drops below Loyal membership, you will lose your Loyalty status the next day. To get it back, you will have to increase the account balance to 25 000 EUR and wait for 3 consecutive months.