Mintos is one of the largest peer-to-peer lending platforms; they offer a huge volume of loans of all kinds and durations.
My opinion on Mintos
Mintos‘ success is well deserved ! They deliver an excellent and very regular performance, and the impressive loans volume means that basically any amount can be invested without fearing a cash drag. Also, thanks to the availability of investing methods other than manual or auto-invest, even beginner investors can easily invest through the platform.
Mintos’s pros & cons
- A huge quantity of loans available
- The platform features many originators, allowing you to diversify your portfolio
- Opportunity to invest in many countries and different currencies
- Overall ergonomics is excellent
- Opportunity to invest via pre-defined strategies or use Invest & Access for easy investing
- Auto-invest can be tricky to configure for beginners
- Interest rates fluctuate a lot
Overview of Mintos’s loans
Mintos offers an impressive array of loan kinds, in many countries and thus many different currencies. As usual, I’ll focus on Euro loans here.
Interest rates on the platform tend to vary a lot throughout the year. Indeed, after enjoying interest rates as high as 15% during most of Spring and Summer 2019, the highest interest rates in late August 2019 went down to 12.5%; this figure climbed to 14.2% in early 2020.
Nearly half of the available loans are personal loans, around 30% are short-term loans and 17% are car loans. The remaining loans are spread between business loans, mortgage loans and invoice financing.
With a very wide array of loans to invest in, it’s not surprising that durations vary greatly – from one month to more than six years -.
Mintos’ cashback campaigns
A great way to boost your returns is to sign up for Mintos’ campaigns, and direct your investments accordingly. For example, they may give 1% cashback if you invest in loans from a given originator, or in long-term loans. Campaigns change often, so it’s something to keep an eye on !
Unlike most other platforms, it’s necessary to explicitly sign-up for a campaign in order to enjoy the bonus.
In July 2019, the volume of loans funded through the platform was more than € 250,000,000. Needless to say that this amount is huge and liquidity isn’t a concern !
As I’m updated this article in August 2019, I expected Mintos to feature 30 or 40 loans originators. It turns out there were actually more than 60 ! While not all may currently be active, it’s still a very impressive number, and it keeps on increasing.
The platform will send notifications as new originators are added, giving investors the opportunity to include them in their auto-invest portfolio.
Like most competitors, Mintos uses a mechanism called “skin in the game”, which means that the originators have to keep a portion of the loans (usually 10%). This ensures that the originators provides quality loans, as they will be directly impacted if the borrower defaults. Mintos FAQ has a great explanation of the skin in the game, which I incite you to read.
Also, since August 2018, they started rating their originators, from A+ (safest companies) to D (defaulted originators). It’s possible to configure the auto-invest to use only selected ratings, which is great for investors’ safety !
Unfortunately, with so many originators available, it’s hard to avoid having sub-standard firms among them. In May 2018, EuroCent went bankrupt; in summer 2019, investors still don’t know how much capital they’ll get back, as the court processes got delayed.
There’s also the case of Aforti, which delayed payments to the platforms (this also affected Viventor) for a week or so. Fortunately the situation got resolved, but investors with a large share of loans from this originator probably didn’t sleep well. This once more emphasizes the need for a large diversification !
An excellent source of independent ratings for Mintos loan originators is the ratings computed by Explore P2P. While they’re rather austere and following the changes is a painful task, I consider them a great guide to reduce the risk of my portfolio.
Most loans on Mintos are covered by a buyback guarantee. The delay necessary to trigger it is rather long (60 days); it’s the same for all originators.
There’s a secondary market available, should you ever want to resell your loans. The platform used to charge a 1% commission on these operations; however, they lifted this fee in November 2017.
Mintos’ various investing methods
Mintos actually offers 4 different ways to invest in loans. In addition to the classical manual and automatic investing, it’s possible to choose pre-defined strategies for auto-invest, as well as the recently added “Invest & access”.
Mintos’ “Invest & Access”
In Spring 2019, Mintos launched Invest & Access. Although this investing method is extremely easy to use, it also has several drawback investors should be aware of.
Let’s start with the positive aspects : first, the only configuration needed to use Invest & Access is the size of the target portfolio. That’s all ! This amount will be automatically allocated through available loans. This simplicity makes it very easy for beginner investors to use Mintos. In addition, liquidating all or part of your portfolio is as simple as clicking a button; however, it will only sell current loans. Indeed, late loans will have to be sold manually on the secondary market – although it’s probably better to wait for buyback –
Unfortunately, returns will be lower than when using auto-invest, as it’s not possible to set a minimal interest rate. As I’m updating this article in late August 2019, the average return for Invest & Access is 10.48%, which is at least 2% less than my portfolio’s performance. Also, the way loans are allocated are rather opaque, and several investors complained of a poor portfolio’s diversification.
The minimal amount for Invest & Access is currently € 500, but Mintos has plans to decrease it..
For investors who don’t want to bother with configuring auto-invest, Mintos now offers predefined strategies. There are three of them, named Short-term strategy, Diversification strategy and Secured loan strategy.
The indicative returns currently vary between 7% and 8.5%, which is lower than what you could get using custom auto-invest settings. When the pre-defined strategies were launched, the indicative returns were as high as 12.5%; they have since dropped significantly !
Investors interested in easy ways to invest can refer to my article on one-click investing; it compares Mintos’ predefined strategies, Ekassa, DoFinance and Bondora‘s Go & Grow.
Manual investing at Mintos
While I encourage investors to take advantage of the auto-invest feature to save time, starting by investing manually can be less intimidating for beginner investors. While there are many available filters, the screen layout for manual investing looks much simpler than the auto-invest screen pictures below.
The filters include :
- Interest rate
- loan duration
- Loan type
- Borrower’s country
- Originator and originator rating
- Presence of a buyback guarantee
- Amortization method
- Initial and current LTV (loan-to-value ratio)
Mintos‘ auto-invest screen can be rather intimidating, as it’s possible to configure it extensively for each originator. Unfortunately, as the number of originators grew, the screen became less and less user-friendly, and lost a few useful features.
While there’s a very large number of checkboxes on the screen, it’s actually not necessary to manage them by hand. Most investors will prefer using the selectors at the top. These allow to choose :
- The ratings for the originator
- The loans types
- The borrower’s country
- The presence or absence of a buyback guarantee
At the bottom of the screen, two sliders allow to select the interest rates interval, as well as the loans duration. Finally, investors have to choose the portfolio size, whether to reinvest or not, and the minimal/maximal loan size.
In earlier versions, this screen displayed the number of loans matching the criteria. This feature has unfortunately disappeared, making it harder to choose only the highest interest rates.
On the other hand, a handy feature is the neat option to diversify the loans portfolio across loans originators. This will help mitigate the risks in case things go wrong with one of them; I strongly encourage investors to check this box.
Website’s ease of use
Mintos’s registration process
Registering as an investor at Mintos is quick and easy. In addition to providing basic information about themselves, prospective investors need to upload a copy of an identification document.
Account funding and funds withdrawal
It’s possible to fund your Mintos account either by SEPA transfer, Trustly or TransferWise.
Website’s design and ergonomics
Mintos‘ website is well designed and looks great. It’s easy to navigate and use most features; as I already mentioned, the only exception is probably the auto-invest screen.
Available languages & translations quality
Mintos‘ website is available in many languages; the English translation is excellent.
All standard reporting features are available at Mintos; both account statement and current investments can be exported as an Excel file.
In addition, I greatly appreciate being able to evaluate the diversification of my portfolio through a pie chart showing the originators; it’s also very easy to see the overall interest rates or durations. I only wish the fonts were slightly larger !
There’s a lot of documentation available ! If the How it works sections is too generic to my taste, the Getting started guide is informative, albeit slightly too concise. The FAQ is really complete and will answer most investors’ questions; in addition, the blog makes for a good read as it serves to announce noteworthy changes.
It’s possible to get in touch by e-mail, live chat or phone.
Communication from the platform
Notifications are configurable. It’s possible to choose to receive a daily summary e-mail, as well as notifications for deposits, withdrawals and bonus payments. In addition, opting-in to Mintos’ informative newsletter is highly recommended !
Actual performance of my Mintos portfolio
At the end of December 2019, the XIRR for my Mintos portfolio was 13,28%.
The performance for this portfolio is rather stable, in spite of the sometimes sudden changes of interest rates.
Don't hesitate to read my most recent crowdlending portfolio review for detailed platforms performance comparison as well as historical performance.
Portfolio creation date
I created my Mintos portfolio in November 2016.
Mintos's main competitors
For a detailed comparison of the different p2p-lending marketplaces, check out this article.
Mintos's facts & figures
Number of investors
Loans amount financed
As of January 2020
Who can invest at Mintos
Both individuals and entities can invest through Mintos. Individual investors must be at least 18 years old, have a bank account in the European Union or third countries currently considered to have AML/CFT systems equivalent to the EU, and have their identity successfully verified by Mintos.
Family trusts, partnerships, limited liability companies and other organizations must have a bank account and be registered in the EU or third countries currently considered to have AML/CFT systems equivalent to the EU.
Please note that this review may contain affiliate links. It means that I will earn a commission if you decide to invest after clicking through the link – at no additional cost to you, of course -. Please understand that I have experienced all of these companies, and I recommend them because they are helpful and useful, not because of the commissions I make if you decide to invest through my links.