📉 The Decline: Base rate at 10%
This is the main piece of information: the standard interest rate for short-term loans (30 days) is reduced from 12% to 10% per annum.
- When ? The reduction applies to new loans posted online from November 7, 2025.
- Impact ? Your existing loans purchased before this date will retain their original interest rate (e.g., 12% or 14%). You do not need to change your auto-investment settings.
💎 Loyalty Bonus: +2% for... €25,000
At the same time, Swaper is “introducing” (or rather standardizing) its “Loyalty Membership,” which remains a +2% bonus.
This is the key point: this new standardized bonus will only take effect on January 5, 2026.
New structure (as of January 5, 2026):
- Requirement : Have an investment portfolio of €25,000 or more.
- Reward : You receive an additional bonus of +2% on all your investments.
The calculation will therefore be (as of January 5, 2026):
- Investors with less than €25,000: 10% rate.
- Investors with more than €25,000: 12% rate (10% + 2%).
📈 Milestone: Swaper exceeds €650 million
The platform also celebrated a new milestone by exceeding €650 million in loans financed since 2016. In October 2025, Swaper paid nearly €170,000 in interest to its investors, bringing the total to more than €8.6 million since its creation.
📊 Winners and Losers: The New Segmentation
This strategy clearly segments the investor base, but with a grace period.
- The “Winners” (VIPs > €25k) : Their final rate will be 12% (10% + 2%) starting in January 2026. They are winners because they should (in theory) no longer have any cash drag, thus stabilizing their real return at a high level.
- The “Losers” (The “Historic” €5k-€25k) : This is a tough blow. These are investors who previously benefited from the +2% bonus (with a rate of 14%). They will lose this bonus on January 5, 2026, and their rate will drop to 10%. They have two months to decide whether to increase their portfolio to €25k or accept this new return.
- The “Neutrals” (those with less than €5k) : Their rate drops from 12% to 10% (effective immediately). However, if the cash drag disappears as expected, their real return will be stable, or even better, and above all, more predictable.
Conclusion : Swaper is making a strategic trade-off. The platform is sacrificing its call rate to (hopefully) solve its number one operational problem: the lack of loans. At the same time, it has chosen to reward almost exclusively its “big” investors, while offering a reprieve to its core group of long-standing “medium” investors.
🧐 My Opinion: A rate cut to eliminate the “Cash Drag”
Swaper's real problem was not the rate. The advertised return of 12% (or 14% for loyal customers) was excellent, but it was undermined by an increasingly significant “cash drag” (money on hold, not invested), reaching 10% to 15% of the portfolio.
A simple calculation : A rate of 12% with 15% cash drag gives a real return of only 10.2%.
By lowering the base rate to 10%, Swaper makes the “cost of money” cheaper for its loan originators (Wandoo Finance). Logically, this should encourage them to offer many more loans on the platform. Swaper's gamble is clear: it is better to have a portfolio that is 100% invested at 10% than a portfolio at 12% that is never fully invested.