Minterest

Minterest

4.6
(3)
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Ratings Breakdown (3)

4.6
  • 5
    2
  • 4
    1
  • 3
    0
  • 2
    0
  • 1
    0
OperationsAll funds transfer will be managed by the escrow agent
MethodologyBusiness term loan and Invoice financing
Fees8%-18% on fund raised
MinimumS$1,000 per campaign
Default Rate0% (public listed deals, still early to determine)
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  • Jeanie Tay
    Jeanie Tay
    1 Reviews, 1 Upvotes
    Reviewed on 07 Aug 2018
    I've been an investor for slightly over 4 months now and has tried to participate in their deals (but mostly failed due to the speed that the deals are taken up). However, I'm comforted by the fact that so many investors trust the due diligence done by the Minterest team which is not surprising from their years of experience. Something that I like about Minterest a lot is that they have a telegram group in which they keep constant updates to their investors and answers queries quickly. They also inform us through email and the telegram group when there's a launch happening so we can keep a lookout for them. However, at times new deals are fairly slow in launching so it might get a little frustrating and the onboarding process is a little confusing at times. But overall, I think it's a good P2P platform to place your money!
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  • Aaron Quek
    Aaron Quek
    1 Reviews, 1 Upvotes
    Reviewed on 27 Jul 2018
    Firstly, as an investor, i am deeply comforted by the fact that the Minterest team is run by 3 very experienced ex bankers. Due diligence is very in depth for instance, i am surprised by the details and analysis provided in the loan request fact sheet, It gives me the necessary information to assess the borrower. The other platforms that i have used are not as detailed. Secondly, Minterest has a telegram group created for investors, to address all their queries. They are also very efficient in their replies. This always gives me comfort as an investor on their platform. Lastly, interest rates are very fair and there are no hidden costs. Since the team is made up of ex bankers, interest rates (risk & return policy) are reasonable and well calculated based on each borrower. As an investor, based on the previous deals on Minterest, i am already confident and comfortable with the interest rates given to me. Trust me, i have used many platforms and Minterest is the best. Cheers!
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  • KC Yeo
    KC Yeo
    1 Reviews, 4 Upvotes
    Updated on 05 Apr 2018
    I have invested in 9 loan deals thus far in the past 11 months, of which, 6 has been fully repaid and 3 pending repayments. I have not experienced a default but 1 loan deal experienced a slight delay on repayment (but has since been fully settled with further late interest payments) while another is still pending a late repayment. Minterest team follows up closely with late repayments and update investors as soon as there are new developments. The team is also relatively accessible and responds very quickly. Overall, I am very happy with investing on Minterest's platform and will continue to use them. Pros Due diligence is carried out by a team of ex bankers that apply their combined experience in banking. That gives me comfort as opposed to some young entrepreneurs starting a pipe dream in P2P lending. Minterest core team is made up of people with integrity. Do try to get to know them and speak to them as they are the key people approving and listing the loan deals. User interface makes it easy to browse loan deals and invest. No fees for investors and attractive interest yields (12-24%) for investors. No hidden fees Cons Parts of the platform may need initial explanation by Minterest team. The user platform can also be a little confusing with regards to showing schedule of payments as well as total current investments. Good thing is the team is on hand to field any queries fast! Good deals (safe deals IMHO) get snapped out rather quickly. What to watch out for: Despite the credit ratings given by the Minterest team, I suggests fellow investors to do their own due diligence on the companies taking out loans with Minterest, at the very least, understand the business model and the macro business environment they operate in. Also, do take note of the difference between a one time repayment vs monthly repayments for the loans as there is a difference in the rate of returns. This is a new world of loans and you can very well lose all your investment if the SME you loan to defaults. The onus is on the investor to take responsibility for each investment that you invest in. With regards to Minterest’s platform risk, I feel that the risk of Minterest winding down is low as Minterest is a well capitalized P2P company Do not just focus on the yields, focus on the downside risks (basically the credit risks of the particular SME taking the loan).
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About Minterest

Minterest is started in the year 2017 by former bankers Charis Liau and Ronnie Chia.

Types of loans by Minterest

Minterest gives out loans in form of Business Term Loan and Invoice Financing

Risk Management for Minterest

Minterest has its proprietary credit assessment model that reflects both quantitative and qualitative factors taking into account business and financial risks of each borrower and their respective financing requirements.

Funds for Minterest are handled by an escrow agency, Vistra.

Minimum investment and fees for Minterest

The minimum investment for Minterest is at S$1,000. Minimum investment for each campaign is at S$500.

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