On August 06, 2018 I made my monthly Mintos deposit of €150,00. For the month of August there was a significunt sortage of loans on Mintos and the yields on the loans that were available were also significantelly reduced. Many loan originators didnt have any listings like GetBucks, Mozipo, Watu, etc. I emailed Mintos support to ask them why is this happening and they told me that tIt is related to fact that summer is low season for loan originators, which means that they are not in need of that much funding. That is the reason why we face less loans on primary market.
I was able to find some good loans a couple of days during August mainly with GetBucks with yields as high as 12%. I like GetBucks because for loans issued in Kenya and Zambia the company has special agreements that ensure loan repayments are deducted directly from the salary of the borrower.
Also, during the last days of August Mintos introduced ratings for its loan originators ranging from “A+” to “D”. This is a nice move by Mintos to provide transparence and assist us in reducing unessesary risk.
On the following sceenshoot of my monthy account statement you will be able to see all the details.
For the month of August 2018 I deposited €150,00 and the total return from cashback, interest, late fees and secondary market transactions was €40,39.
Until Next Time,