P2P lending platform review | Mintos

Mintos is a Latvian-funded crowdfunding platform that has suddenly started to gain momentum in all Baltic countries, leaving many platforms such as Lendermarket far behind. Here we review the important conditions of Mintos.

How does Mintos work?

However, the platform system is slightly different from the system of some of the more “classic” P2P platforms. While most platforms operate on an investor > borrower system, Mintos works with an investor > borrower company > borrower. At Mintos, you can request money from a credit company also know as loan generator, which then lends money to a lender.

Mintos Key Features and Conditions

The good news for those who want to make some money – registering with Mintos is incredibly simple. You must be at least 18 years old and have a European bank account for investment. That’s all! Filling out the registration form itself takes only a minute. PS: Companies can also invest in Mintos.

Here are a few key terms: No service charges from Mintos. In the past, it was, but not at the moment (we hope it will not).
You can invest from 10 €;
There is a secondary market where you can sell your investments and return the invested funds. Secondary maintenance fee is 1%.
There is an automatic investment option, so you do not have to follow this process.
At Mintos, you can also get a buyback guarantee – if your loan is overdue for more than 60 days, you will return all your investments (+ accrued interest).
Mintos does not charge a withdrawal fee.

Advantages and disadvantages

Each product has its drawbacks, and Mintos is no exception. Services for joint lending, as a rule, are a kind of “platform” in which operations may not be to everyone’s taste. Nevertheless, automatic investment with such a low limit as in Mintos (and many other platforms), as well as the lack of payment for services, allow people far from the investment world to become “practitioners”.

Pros

The website is beautiful, professional and very easy to understand.
There are quite a few lenders, and not only for small consumer loans, but also factoring and other interesting things that many other portals do not have.
Mintos also has a secondary market
Investor does not need to pay for service
Investments from 10 euros

Cons

Investors often complain about the lack of investment opportunities.
Although the situation has improved over time, Mintos still cannot boast of a huge amount of loans.
After-sales service fee – 1%
It is difficult to assess risks on the portal, and the volume of loan loans is uncertain. Thus, you can be a little hesitant investor.

Do not forget that Mintos, like all other similar platforms, in the end is a brokerage platform for loans. When you invest, no one can guarantee the expected performance, or that the loan will not default. Therefore, always be careful, properly diversify risks and do not make hasty decisions!