Mintos has introduced a new product called Mintos Smart Cash. This service allows for easy deposits and withdrawals into an underlying money market fund. The fund used is the BlackRock Institutional Cash Series Euro Liquidity Fund Premier (IE000GWTNRJ7), typically available to institutional investors.
This fund is benchmarked against the Euro Short Term Rate (€STR). Given the current ECB interest rate, this translates to an approximate interest rate of 3.7% per year. Mintos calculates a Total Expense Ratio (TER) of 0.19% per year, resulting in an achievable return of around 3.5% per year.
Unlike traditional savings or fixed-term deposits, this investment is not covered by deposit insurance. However, Mintos does not charge any fees for deposits or withdrawals. This means you can theoretically deposit money today, withdraw it tomorrow, and collect the interest for one day.
Due to regulatory reasons, Mintos Smart Cash is not available in all countries where Mintos operates. However, it is available in Germany, Austria, and Switzerland.
Who is Mintos Smart Cash Ideal For?
- Mintos investors with idle cash: If you have returns from other Mintos products (e.g., loans) and want to wait before reinvesting (e.g., until interest rates on new loans increase), you can park your money with interest in Mintos Smart Cash.
- Small investors without broker accounts: If you want to invest small amounts in a money market fund for a few weeks or months and don’t have a broker account, Mintos Smart Cash offers a convenient option.
Who Might Find Mintos Smart Cash Less Suitable?
- Non-Mintos users: If you don’t already have a Mintos account, it might not be worth opening one just for this purpose.
- Short-term parkers with high-interest accounts: If you already have a high-interest-bearing current account, Mintos Smart Cash might not offer a significant advantage.
- Dedicated money market fund investors with broker accounts: If you want to invest specifically in a money market fund and already have a broker account, Mintos Smart Cash may not be the best option.
Special Offer
Currently, Mintos is offering a new customer bonus of up to 200 euros when you register and invest via this Mintos link. This offer applies to registrations and investments made until July 15th. The bonus amount depends on the investment amount (details and conditions can be found on the Mintos* page). Please note that investing in Mintos Smart Cash does not count towards the investment amount in this promotion.
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