Alternative Investing
P2P Lending, Crowd Investing

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Mintos P2P Lending Site Review

Mintos is a Latvian P2P platform, one of the largest in Europe. Mintos was my second p2p discovery after Klear Lending (read the Klear review). Before getting into details I want to say right away that I am very happy with them.

After being in Mintos for about 4 months I have made something like 3.3% ROI which would roughly come to 9% - 10% per year if things keep going this way. So for the moment it works better than Klear.

Here is my result about 2 months after investing € 500 in it:

Mintos Dashboard

I am not sure about the net annual return reported on this screen but we are about to see. Either way, the return is good. So, let's break down the advantages and disadvantages of this platform

The Good

  • Lots of loans. This is a huge site with a lot of loans from different loan originators. There is no shortage, you can find all kind of loans any time. Love this.
  • Good returns. As already said, Mintos is giving me better returns at this point. Although the real ROI will probably be lower than the reported one of 11.6%, it looks like I can get close to 10% which is definitely good.
  • Amazing secondary market. I love the secondary market of Mintos. There are many loans in it and it's perfectly searchable. As you can see from the screenshot I am making small extra ROI by purchasing discounted credits at the secondary market. It's very liquid so should you need to get out of Mintos quickly and use your money for something else, you should be able to do sell your loans with small discount on the secondary market.
  • Easy funding sources. Unlike most other platforms Mintos accepts TransferWise even from the first deposit (at least they did few months ago!) which is very important for me. The SEPA transfers in my country are expensive.
  • Many loans with buyback guarantee. Many of the loans have buyback guarantee. Unlike other investors I am not restricting myself to them because other loans offer better ROI. But if you want to invest only in risk-free loans, there are enough of them.
  • Excellent stats. Besides the good stats for your portfolio performance, Mintos has a great global stats page that can give you good ideas about default rates per loan type, bad loans, etc.

The Bad

  • Min €10. The minimum investment in loan is €10 which is a lot more than Klear's. Not that this is a big deal but Klear allows you diversify in many loans with less money total. Mintos have no minimum for secondary market loans however so you can use the secondary market for better diversification.
  • More delayed loans. Compared to Klear I have more delayed loans here. To be honest this has not been a problem so far - I had one loan in default but they bought back the principal and re-initiated the loan in the market. It was a loan without buy-back guarantee and I purchased it on the second market with 2% discount :)
  • The mobile UI needs some work. When working with small mobile screen you can't sort the loans well. I just needed to find some disadvantages so adding this :) Not a big deal but it's something to work on.

Overall Opinion

My favorite so far. I love the secondary market, the huge selection of loans and the good returns.

Published at Nov, 21 '17 , Read 139 times.

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