Mintos Review

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I’ve been investing in Mintos for a while now, so it is time for a Mintos review.

Mintos is a marketplace for loans, but most people refer to it as a peer-to-peer (p2p) lending or crowdlending platform. Mintos has grown a lot last year and many people like them. Probably because the website works great, it’s pretty fast, user-friendly, they have guarantees and there are always lots of loans available. It is also one of my favorite p2p platforms.

Mintos facts & numbers

Numbers on February 16, 2019

  • Days since launch: 1494 (Since 2015)
  • Headquarters based in: Latvia
  • Total invested: € 1 722 656 115
  • Registered users: 112 669
  • Principal repaid to investors: € 1 432 789 484
  • Interest paid to investors: € 34 846 606
  • Average net annual return for investors: 11.7%
  • Loan originators: 60 (from 28 countries in 5 continents)
  • Team: 60 people (and growing)

Loan originators

Mintos is actually a mediator between investors and credit companies (loan originators). The loan originators use their own capital to give out loans. The loan originator will put the loan on a marketplace like Mintos, so investors can buy a part of the loan for an agreed interest rate. This way, the loan originators will free up some capital to lend out even more loans.

The only thing I’m concerned about is the fact that most loan originators issue very high interest rates to the borrowers. And I’m wondering if the people that ask for a loan are able to pay back the loan or getting themselves in trouble. While I cannot decide for other people if it’s a good idea to take out a loan with one of these loan originators, this is always in the back of my mind when I’m investing here.

Currencies

Mintos has loans in a lot of different currencies: CZK, DKK, EUR, GBP, GEL, KZT, MXN, PLN, RON, RUB, SEK, USD. You can use the currency exchange on the website to be able to invest in loans with another currency than your own. Until today I only invested with euros.

The interest rate of the loans in rubles are way higher (18.5%), I wanted to give it a try and exchanged some money to rubles. Make sure to check the exchange rates when you do this. For exchanging euros to rubles, I paid a fee of 0,7%. The fees for other currencies can be found on the currency exchange page.

I will let you know in a while how my investments in rubles are doing.

Secondary Market

Mintos has a secondary market where you can sell the loans you invested in. And you can also buy loans from other investors. I haven’t used the secondary market yet, so I can’t tell you anything about this at the moment. I have plans to try it out soon. When I have built up some experience, I will let your know.

Buyback guarantee

Mintos has a buyback guarantee which is explained on their website:


The only time when the buyback guarantee doesn’t work, is when the loan originator goes bankrupt (or when Mintos itself goes bankrupt). Because of this, it it important to carefully select the loan originators you would like to invest in.

Which loan originators to invest in?

Edit: I recently wrote more about this: 20 Mintos Loan Originators I Feel Comfortable Investing In

Since I started investing on Mintos, I read a lot about the platform and tried to figure out what the best investment strategy is. Which loan originators do I have to avoid and which ones are good and solid?

To answer this question, I looked at the rating Mintos gives the loan originators, the rating exploreP2P gives them and at the statistics from Mintos’ website.

Mintos ratings

Mintos has 10 different ratings, from A+ to D. Since I don’t like to invest in loan originators with too much risk, I only include loan originators with a low to moderate risk:

An explanation about all of the Mintos ratings can be found here.

ExploreP2P ratings

ExploreP2P has rated all the loan originators from Mintos. They did a very nice job, and you can use their ratings if you like. I don’t exactly know how they rate them, but they do seem to dive into the financial reports of the loan originators and check it all out.

The statistics


The statistics from Mintos show what percentage of each loan originator’s outstanding loans are paid on time (current). I think this is an important score, because if a lot of the payments are late, something might be wrong. Does the loan originator perform a good background check on his client to make sure he can actually pay the loan back? Can the loan originator keep up with the buyback guarantee if a high percentage of the loans are paid late or never paid at all?

Related post: 17 Mintos Loan Originators I Feel Comfortable Investing In

Auto Invest

Mintos has a great tool for auto investing. You can customize the auto invest options to your liking and it will invest your money for you. When selecting loan originators, it’s good to know that not all of them pay interest on delayed loans. You can find the ones that do here:


Click to enlarge

Login and go to Loan Listings -> Loan originators -> Details -> and check “Interest income on delayed payments” for every loan originator. I only invest in loans from loan originators that do pay interest on delayed payments.

Exception: Cream Finance doesn’t pay interest on delayed loans  from Latvia and Get Bucks only pays interest on delayed loans from Poland. You can select the countries for these loan originators in your auto invest settings.

My settings

At first I just selected all loan originators to diversify. I also didn’t really know what to choose, so in the end my portfolio wasn’t much diversified because of bad settings. In the meantime, I read about other people’s auto invest settings and I tried some different things. Now I am satisfied with my settings and I will show you what I’ve got.

You can setup different strategies and prioritize them in the order you like. Because Mintos doesn’t buy the loans with the highest interest rates first, if you set your rates at 12%+ and there are loans up to 14%, you can get, 12%, 13% or 14%. To not miss out on loans with an interest rate of 14%, I made a second auto invest strategy and placed it above my other one to make it priority 1. This way Mintos will first look at strategy number one, and only when nothing matches that criteria, it fills up strategy number 2, putting all my money into loans with an interest rate of 12% and up.


I selected the loan originators with only A and B ratings and the ones that pay interest on delayed payments. With these settings I can invest in 34 different loan originators.

My other settings:

The portfolio sizes matters for diversifying. The amount you put here will be split between the selected loan originators. So if you have chosen 10 loan originators and you set your max portfolio size to € 10,000, every loan originator has up to € 1,000 to invest in. If your account only holds € 1,000, it is possible that all of your loans come from 1 loan originator.

Mintos dashboard

This is what my dashboard looks like:

Note that there is nothing in 60+ days late, default or bad debt. This is because I only invest in loans with buyback guarantee. The “service fees” is the fee I paid for exchanging euros to rubles. Mintos doesn’t charge investors with any other fees.

Want to join Mintos?

If you don’t have an account on Mintos yet, you can use my link to sign up to receive a 1% bonus on your invested funds in the first 3 months. You will not get this bonus if you sign up without a referral.

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This Post Has 3 Comments

  1. Great detailed review of Mintos.

    It seems to be that I am the only one getting less than 10%. I changed my auto-invest setting a while ago in order to improve it but the number of investments that had to be bought back by the loan originators increased exponentially and changed it back to only A rated loans. Perhaps, I will increase it again as it seems everyone is doing fine with it.

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