facebookIf I invest $1,000 on CoAssets campaign which has 5% interest and 6 months tenture date, it means I will get $1,050 after the 6 months? And if campaign failed to secure the needed amount, can I get back the $1,000? - Seedly

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Anonymous

07 Jun 2019

βˆ™

General Investing

If I invest $1,000 on CoAssets campaign which has 5% interest and 6 months tenture date, it means I will get $1,050 after the 6 months? And if campaign failed to secure the needed amount, can I get back the $1,000?

I have been looking at CoAssets but trying to get my head around, default rates etc. Eg. If I have invested $1,000 on its campaign when the interest is 5%, and the tenture date is 6 months, can I assume that I will be getting $1,050 after the tenture date? Also should the campaign fails to secure the needed amount, can I safely presume that I will not be able to get back the 1k that has been invested?

Discussion (6)

What are your thoughts?

Ernest Yeam Wee Leong

Ernest Yeam Wee Leong

07 Jun 2019

Level 9Β·Content Creator at www.youtube.com/c/JustBeingErnest

Based on the scenarios that you mentioned above, i will be able to answer you since i have invested via coassets before and faced the same situations as you.

1) if there is a project which you funded but eventually the project is not fully funded, you will receive a refund for it back into your coassets account. you can decide if you want to withdraw or leave it there for other investment projects.

2) regarding the rates, it will be best to clarify with the coassets staff directly. The project details will indicate specifically the amount you will receive based on what you invested.

Attached is my transaction history in coassets for reference

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Getty Goh

Getty Goh

22 Apr 2019

Level 4Β·Co-Founder & Exec Chairman at Coassets Ltd

Hey Anon,

Getty here, I’m the CEO of CoAssets. Great question!!πŸ‘πŸ‘

  1. We will typically add β€œp.a.” Or β€œPer Annum”. If that’s the case, 5% p.a. means that you will get 5% for a 1 year investment. So if the tenure is only 6months and if you invest $1,000, you will get $25 (half of 5%).
  1. If the funding is unsuccessful, you will get 100% refund of investment amount. No fee. No questions asked.

So I hope it helps. πŸ˜…πŸ˜…πŸ˜… Looking forward to more questions from you πŸ’ͺ🏻πŸ’ͺ🏻πŸ’ͺ🏻

Getty

HC Tang

HC Tang

19 Apr 2019

Level 13Β·Financial Enthusiast, Budgeting at The Society

The interest given is always annual rate like any financial institution. So using your example , it ...

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