Robo.cash review

Overview of Robo.cash

Robo.cash offers secure, short-term loans with an interest rate of 14%. It took me a while to discover it, and for some reason I initially wasn’t very compelled to invest money there. Maybe the ‘robo’ part reminded me of scams like binary options robot ? Well, anyway, I ended up registering with them and don’t regret it.

Registration process

Registration is quick and easy, requiring you to only supply very basic informations.

Secured loans

Robo.cash currently offers a 14% interest rate for very short-term loans (1 month). As of this writing, it’s probably the best offer in the market for such a short duration ! In October – November 2017, the platform struggled to invest all my funds. Now this cash drag seems to be over, apart from some uninvested cash from time to time. They extended their loan offer in Russia, which greatly increased the available volume.

Buyback

The buyback guarantee triggers after a delay longer than 30 days. This is standard for most P2P companies.

Secondary market

There’s no secondary market, but as Robo.cash loans are very short-term it’s not an actual drawback.

Website ergonomics

The website is globally easy to use.

Overall, setting up auto-invest is easy, although some options have what I consider unclear labels. What exactly does “Invest partly” mean ? This screen should be re-designed in order to be less confusing !

Robo.cash auto-invest

One minor annoyance is that if you ever want to see a loan agreement, it isn’t displayed in your browser but downloaded as a Word document. Also, the English version isn’t as well translated as some competitors, but is obviously legible enough. Finally, I regret the lack of a FAQ once you’re logged in; it’s actually available from the home page.

Reporting

It’s rather complete, although no XIRR is currently provided. You can see the amount of interests accrued, the average interest rate.

Actual performance

Because of the cash drag when I started investing in Robo.cash, my current XIRR is currently 11.26%. However as I mentioned earlier the situation has greatly improved and the XIRR is climbing steadily !

Conclusion

Now that they increased the loans volume, Robo.cash is a serious competitor to Swaper thanks to a very high interest rate. I can only hope that it will stay at the current level !

Interest rate14% for short-term, secured loans is great
Loans availabilityThe loans volume is currently large enough to prevent the past cash drags
BuybackRobo.cash offers standard buyback terms
Website ergonomicsIt could be more polished
ReportingComplete and useful, excepted for the missing XIRR
Global ratingRobo.cash is extremely interesting for now. Let’s see how it evolves !

(last update : January 31st, 2018)

 

Leave a Comment

Your email address will not be published. Required fields are marked *