Where banking meets investment management, the Covercy Investment Management platform allows you to manage your real estate assets and funds accounts earning interest on uninvested real estate capital.
CRE Banking accounts on the Covercy Wallet are embedded in the Investment Management Platform. All in one place, you can manage your real estate assets and their corresponding checking accounts.
The actual formula for calculating APY: If your balance is between $120,000 and $1 million (Fed Funds Rate – 0.2%) * 48%. If your balance is between $1 million and $5 million, you would earn (Fed Funds Rate – 0.2%) * 65%. If your balance is between $5 million and $15 million, you would earn (Fed Funds Rate – 0.2%) * 72%. The above APYs represent a Fed Fund Rate of 5.0% and are true as of May 3, 2023.
Many of our General Partners (GPs) have 3-5 accounts per real estate asset or fund. Now, you can earn interest on uninvested capital across all your accounts. The interest is calculate daily and paid monthly.