Evorest Launches Digitally Invested Rental Deposit

Zurich/Lenzburg AG – Evorest has developed a way to digitally invest rental deposits in funds. To this end, the Zurich-based fintech is teaming up with Hypothekarbank Lenzburg. Property owners are fully guaranteed the rental deposit by Evorest.

Evorest offers Swiss tenants the opportunity to invest their rental deposit in funds instead of keeping the money in low-interest accounts. The Zurich-based fintech, which was founded last year, has selected "ten proven ETFs from leading providers such as UBS and Blackrock's iShares", explains Evorest in a press release. Invested here, the deposits are intended to "grow with the market and generate a return at the same time".

Property owners and managers do not take any risk with the deposits they invest. The full amount of the rental deposit is guaranteed by Evorest. If prices rise, there is even higher coverage for damages.

Evorest is working with Hypothekarbank Lenzburg to implement the new solution. There, the deposits are paid into a rental deposit account in the tenant's name with an associated custody account. Accounts are opened and deposits are made digitally via the open banking interface of the Finstar banking platform. If you don't want to invest, you can also set up a classic rental deposit account with Hypothekarbank Lenzburg. All deposits can be made completely digitally in just a few steps within a single day. ce/hs

View full article