Just like Mintos, Latvia’s Twino is one of the pioneers in the P2P lending area. How do these two compare ? Let’s find out !
Twino offers both secured and unsecured loans. I only invest in secured loans there, mostly in short- term durations (one year or less) and offering an interest rate over 10%.In the past Twino had troubles using all my available funds; now it usually works well although it may still take some time.
Twino actually offers two different kinds of buyback, depending on the loan. The classical buyback reimburses both principal and accrued interest if the borrower is more than 30 days late, which is shorter than some competitors. Other loans appear under the “PG” label (payment guarantee), and guarantee actual payment on time, according to schedule. They allow for a more predictable cash-flow.
I don’t see much advantage to use the “PG” loans, so I allow both kinds of buyback.
It’s rather basic compared to Mintos; setting up auto-trade is actually a bit painful as it doesn’t show clearly what the effect of your settings would be.
The dashboard and account statement are readable and clear.
My XIRR is 10.38%, which is nice but lower than Mintos
Between Mintos and Twino, my preference goes without a doubt to Mintos. They have a much larger loans volume and various loans terms, the website is much easier to use.
|Interest rate||Interests rate for secured loans are rather low|
|Loans availability||More loans wouldn’t hurt|
|Buyback||Payment Guarantee is an improvement over the common Buyback|
|Website ergonomy||It works reasonable well, although auto-invest could be improved|
|Reporting||Standard reporting features are available|
|Global rating||Twino lags behind Mintos in nearly every area|