Robinhood lowers margin loan interest rates to 5.7-6.75% and offers free margin for Gold subscribers.

Robinhood Markets cuts margin loan interest rates, aiming to attract more customers and expand its offerings. The new rates, ranging from 5.7% to 6.75%, target customers who want to invest more in the market without needing a bank deposit. Robinhood also offers free margin for the first $1,000 to its Gold subscribers. The app recently experienced growth due to the meme-stock frenzy, with its shares gaining 27%.

May 21, 2024
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