I have been tracking my monthly advancements on Mintos platform from when I started investing there at the end of April 2018. The results have exceeded my expectations. I’ve been tracking my deposits and monthly interest earnings on an excel spreadsheet. Now from 2019 I have wrote a Mintos review and I will also start posting my progress on this blog so you can follow and see where it leads.
I have written down my interest payouts so I could keep some kind of control. Although Mintos has a great system for this on their own platform. You will see my progress month to month down in the article here for a quick summary of my results in 2018 and why I’m staying with this in the future.
Some of the months I have added funds to Mintos so it’s not that easy to see the return rate correctly. This is because of the new capital introduced that starts to work towards future income. But one thing is clear, it’s a nice and easy way to get some extra money for almost no work.
My first deposit and further in 2018
I started out with 10.000 Euros on 20 april after researching both the lenders point of view and the borrowers. I made some manual investments in the beginning but figured out it was better for me to try to get it to run by itself.
When I saw that Mintos was working as predicted and the payments came as expected, I felt more secure about this type of lending and started to move some of my other investments from stocks to go for this more whole-heartedly. In June I added 6.000 Euros more and again in July 6.000 Euros more because it was still going as planned, giving me a nice return. Now the money from the daily interest started to reinvest quickly because of the 10 euro limit on reinvestments in the primary market. This worked fine throughout July, August and September, so I sold more of my stocks adding more funds in oktober 5.000 Euros and again in November 7.000 Euros.
My total investment
So after my first year, with all the deposits, I now have a total of 34.000 Euros invested at Mintos. I went from a small amount of 6,26 Euros in Interest received and interest income on rebuys in my first short days in April to 301,74 Euros in December. You can see my interest recived month to month at the Income graphs page.
The numbers on the list further down in the post won’t give you the correct Annual rate of my interest payments just from looking at the amount I have there and the interest paid out the same month. Some loans pay late – up to 60 days. Some days the loans get finished so I get the investment back so it can reinvest and so on. This depends on when the borrower pays the loan.
If you’re having a hard time understanding the numbers and how it all works it’s advisable to do more research. I would also like to discuss these things with you all in the comment section below.
Auto invest feature
It took me some time before I fully understood the auto-investment feature they have there. You can pick from 3 different auto invest strategies Mintos presents on the platform or set it up yourself. I set my auto invest myself, because I prefer to choose and take control of it.
In the beginning I set mine between 9.5-14% to enable my reinvestments go through easily because of the wide range of percentages. This will match with most of the loans getting posted so it will run smoothly. With the the amount set to 15-30 euros per loan I spread it out even more. I’ve configured it to the loan originators I feel that I trust the most. I don’t want it to invest in every originator because some have almost no information.
If you set the auto invest to, for example 14-15% you might end up not getting new investments as often as you like. If there’s no loans with that criteria at the time you will end up with drag time where the money is just sitting there making 0%. We don’t want that.
To have the auto-invest work without drag time you need to have interest or buyback payouts for minimum 10 Euros. Otherwise you will need to wait for the sum to build up to 10 Euros before it auto invests again. That’s for the Primary Market, the Secondary Market have no limit so go with that if you start small. This will get better and better as the funds increase on your account.
Research is your friend
When I started to do some research on the people borrowing the money and also the loan originators, it became clear to me that I shouldn’t chase after the biggest interest loans. This is because some of the loan originators don’t give me the safety net with buyback protection and also offer loans to borrowers with low credit scores.
Always try to choose from the loan originators that have a good reputation. Personally, I want to see plenty of information on them so I can do my research properly. I started investing in loans I felt were secure and did not have such high interest, because I believe it’s harder for the borrower to pay the high interest demanded by some of the loan originators. Lower % gives them a better chance of paying on time and that, in my opinion, makes my investments more secure.
My first withdrawal
I made my first small withdrawal from the platform just to see whether or not it was as easy as I imagined. And I can say, yes it was very easy! I had already sent in the documents that were required for approval for the account and withdrawal process so it took 3 working days before I had my withdrawal amount in my bank account. I just took out 19 Euros for this trail.
Mintos P2P platform and others out there are very intriguing. Mintos gives a lot more percentage on my money than the normal savings accounts from my banks. The usual rate from the state pension funds etc. is also usually lower.
I have had a good year with Mintos and I’m looking forward with a big smile. I will spread my investments out more now in 2019 and try out some of the other P2P and crowdfunding platforms in addition to Mintos.
There are many platforms to choose from so there is still more research to do. Maybe I will look at transferring some of my Mintos portfolio to some of the other platforms. I will also be adding more funds to this type of investments in the future. It’s starting to boom in Europe and the rest of the world and I dont want to lose an opportunity. So it’s going to be exciting to see where this takes me in the future
Graph of the monthly return from the start 20 April to out December 2018.
Monthly deposits, interest payouts and withdrawals for 2018.
|Month||Deposit||Withdrawal||Interest paid out|
The interest paid out column is only showing Interest received and interest income on rebuys for that month. Late payment fees and Campaign reward is another thing and shows in the printscreen of the account status.