Review – Mintos

Mintos was the first experience I had with crowdlending or p2p lending.
I read about it, on a danish blog.
A mutual minded blogger wrote with very fond words of Mintos, and how easy it was to make money, with practically  no work.

I created an account here, it was really easy and only took a minute or two to do.

In generel Mintos have a bit lower interest rates, than a lot of their competitors.
But they hav a lot of upsides, that make up for the slight lower average interest rate.
I really like that they have such an easy platform to use, there is so many different loans to choose from.

Now your ready to transfer money, and start making money while you sleep.

I Use Revolut to transfer money to Mintos, its easy and transfers are free.

I have written a guide on how to use Revolut, you can check it out here.

Make money while you sleep

It sounds too good to be true, but it actually isn’t. 

To keep it hassle free, and do a minimum amount of work, i have set up an auto invest strategy.
Press Auto invest -> Custom strategy 
Here you get a wide range of options, on how to set up your investment portofolio, In my opinion, the most important thing to do, is remove all loans without buyback guarantee.

Loans with buyback guarantee, will be bought back by the loan originator, even if the person who lends the money dont pay back the loan originator. 
That means, the only way you can lose your investment, is if the company that lends out money (the loan originator), which in general are respectable credit companies goes bankrupt.

My settings

I only invest in loans issued in euros, as i see this as investment, and not gamling, i’m not willing to take the risk with currency fluctuations.
Max 10EUR pr. loan, to diversify over as many loans and loan originators as possible.
Beside that, i have set min 10% interest rate, and a max length of the loan of 24 months.

As you can see from the above, there is over 27.000 loans that match my criterias, so my money wont stand idle.

Here is an overview of the current status of my account

I haven’t been investing for that long, only 3 months for now, and have gradually been adding more money, as i started seeing my first loans that went overdue got bought back, and it just went smooth, money doesn’t stand idle, but are constantly invested again once loans are paid back. 

Update, here 6 months after the picture above, you can see how I have been progressing.

I’m very pleased with Mintos, i have had no problems or issues, there is plenty of loans.

Over a 6 months period, there is also over 30.000 more loans available.

That means your money wont stand idle, instead they do as they should, make money for you.

As of October 2018, they promise a net annual return on your investment of 11,69%, which sounds almost too good to be through, for basically no work.

If your interested in my pros and cons regarding crowdlending, check them out here

Check the current status os my Mintos investments here

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