Your invested money in SaveLend Fixed is not covered by the state deposit guarantee. However, when you use SaveLend Fixed, your invested money is protected in such a way that you have a direct contractual claim against the borrowers. This means that it is the borrowers who are obligated to repay the money to you, and this obligation is not affected if, against all odds, SaveLend were to become insolvent.
In the event of bankruptcy, SaveLend will transfer the continued management of the platform to another party, who will then ensure that borrowers’ payments can continue as usual to you as an investor. If that party is unable to collect the claims, you will ultimately have the right to pursue the claims against the borrowers yourself. If SaveLend decides to wind down its operations, we will continue to manage the borrowers' payments to you as long as you have an outstanding claim.
Only accounts with credit institutions (i.e. banks and credit market companies) are covered by the State Deposit insurance. As SaveLend is not a bank or a credit market company, it is unfortunately impossible for us to offer this guarantee. However, this does not mean that your capital is unsafe with SaveLend, because of the model of a built-in capital protection.
Your money at SaveLend is protected differently depending on whether the capital is invested or not:
As SaveLend is a payment institution, we are required by law to always protect investors' money by keeping it in an account, completely separate from SaveLend's operations. We have no right to the capital even if we end up insolvent. This therefore applies if, for example, you have put money into the platform but have not yet chosen how it will be invested, or if the Fixed Interest Account has not yet been activated.
When you start using SaveLend's savings platform, the money is automatically invested for you as a customer. This also applies when you use the Fixed Interest Account. Once the money is invested, it is protected in such a way that you (and not SaveLend) have a direct right to your money vis-à-vis the person or company with whom the money was invested, as the loan agreement is written between lender and borrower. If SaveLend goes bankrupt, that right is not affected at all. Your capital is never counted as an asset for SaveLend and thus does not risk being included in the bankruptcy estate should SaveLend go bankrupt.
SaveLend has existed for ten years, is under the supervision of the Financial Supervisory Authority through several permits and is listed on Nasdaq First North. So, our business is under full transparency and control.