10:12 AM EDT, 05/21/2024 (MT Newswires) -- (Updates to add detail in the second paragraph.)

Robinhood Markets ( HOOD ) said Tuesday it has lowered the interest rates it offers for margin loans to a range of 5.7% to 6.75%, depending on the customer's margin balance.

The company's previous interest rate was 12% for margin investing, or 8% for Robinhood Gold subscribers, according to the company's website.

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