Minterest Reviews and Comparison - Seedly
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Minterest

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P2P Lending/Minterest

Minterest

4.5
18 reviews

Minterest

15% on interest earned
INVESTOR FEES
$50 per campaign (initial deposit $1,000)
MINIMUM INVESTMENT
0.68%
DEFAULT RATE (2019 Q2)

    Minterest

    15% on interest earned
    INVESTOR FEES
    $50 per campaign (initial deposit $1,000)
    MINIMUM INVESTMENT
    0.68%
    DEFAULT RATE (2019 Q2)
Reviews (18)

4.5

18 Reviews

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    10
  • 4
    7
  • 3
    1
  • 2
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  • 1
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Read Review About...

minterest platform

telegram group

minterest team

update investors

fact sheet

invested loan

invest minimum

auto invest

convenient investors

investor not

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  • Minterest is the third crowdfunding platform I have signed on to and they have been very proactive in responding to investor queries whether through WhatsApp, Telegram or email. The team running Minterest has created multiple channels for feedback and promptly answers any questions especially from retail investors who might not be as familiar with fintech as institutional investors. They have taken these feedback on board and implemented them on their platform whether it is lowering the minimum investment amount or improving the display on their website. One future improvement to make could be to come up with a mobile app which makes it even more convenient for investors.
    0 comments
    2
  • Posted on 11 Sep 2019
    Good lending platform with experienced ex bankers. They boost their service among investors with effective communications using telegrams. They drop their minimum investment per funds from $500 to $100 to $50 to meet the needs of small investors to diversify their risks. With their new personal loan service, qiannow, Minterest will have the most diversified p2p platform. They have loans range from capital-guaranteed loans to riskier loans of higher interest
    0 comments
    2
  • Posted on 10 Sep 2019
    Good lending platform run by experienced and people with integrity. While the software interface has some room for improvement, Minterest is always present in communications and quick to respond to member queries. Depositing funds is an easy affair, and they have also set up a face-to-face meeting to ask about areas of improvement. Many local deals and some interesting offshore deals as well. All in all, a great company run by great people in my opinion. I hope it will grow in many years to come while at the same time contribute to the community of SMEs.
    0 comments
    1
  • Posted on 09 Sep 2019
    Minterest now requires min $1k per deposit, but only a minimum withdrawal of $0.01. So if you want to put in $500 instead, put a 1k deposit and 500$ withdrawal. So far did not encountered an defaults with 9 lending. Back in 2018 when i first tried it out, most investments have a min amount of $500, but 2019 has seen it being reduced to $100 and less. If you did not manage to be allocated with autobot, you are most likely not be able to succeed investing manually. It snaps up as fast as those $0.99 deals in eCommerce sites. UI is more informative than Funding societies. Navigating through website is a breeze. Somehow i am glad that it does not require 2FA - at least not yet. Dislikes the default apge shown after login though. Why can't it defaults to my dashboard or "Browse Funding request" page instead of having to click on the ""Browse Funding request" button?
    0 comments
    2
  • The interface is generally easy to use and the fact sheets very useful in assessing the investment. I hope that they will have more high returns investments at 20% soon. The auto invest is an great feature as it prevents investors from having to rush online at a specific time. All in all, a pretty good platform so far, even though as a new investor I haven’t yet received any returns.
    0 comments
    2
Questions (4)

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P2P Lending

Funding Societies

CoAssets

Minterest

Kenneth Lou
Kenneth Lou, Co-founder at Seedly
Level 9. God of Wisdom
Updated 3w ago
I actually just got this email from Funding Societies... Replicated in full~! Dear Kenneth, We have been monitoring the escalation of the COVID-19 virus since January 2020. Upon its emergence in Wuhan, China, the virus has impacted many associated supply chains and has increased business volatility and risk. Our growth strategy is pivoted on SMEs and their linkages - upstream with their suppliers and downstream with their clients. Through this ongoing outbreak of the COVID-19, we have implemented the following measures to monitor and manage risks to our portfolio during this time. Credit Assessment Approach: We expect non-performing loans (NPLs) of SME-focused lenders to come under more pressure, especially due to possible increased defaults by SMEs operating in F&B, travel, cross-border trade, and service industries that are dependent on labour from affected countries in Southeast Asia. As originators, we have taken the following preventive measures: 1. Assess existing borrowers’ degree of dependency of revenue and/or other linkages on affected countries. We are also taking a reduced exposure of credit limit granted to SMEs. This is being viewed on a case by case basis. 2. Forecast of issuer’s revenue/cash flow for assessment of all new loan submissions and renewals are subjected to a haircut due to a weaker economic outlook. 3. Be agile in reacting to changes in the macro economic environment to tighten the ratios and reduce loan limits and tenor, and increase rates to adjust for increase in risk Short Term Loans: We have started further reducing the average loan tenor on a portfolio basis to mitigate mid to long term risks. For example, issuers that were previously eligible for a 12-month tenor would be provided a shorter term loan, while we assess their debt servicing capability. This allows us to rebalance our portfolio at more frequent intervals and be better placed during the indefinite duration of COVID-19 and its impact on global markets. Closely Work with Borrowers who have Large Exposures : We recognise that SMEs who have borrowed larger quantum are especially vulnerable due to their high credit exposure. In order to mitigate and control the concentration risk across your portfolio, we will either reduce limits or restructure facilities on our borrowers’ loans, on a case by case basis. Credit Monitoring and Remedial Management: We continue to monitor the performance of our portfolio and its underlying risks very closely. On top of existing risk management activities, our collections team has: 1. Inherited recovery efforts from relationship managers (who are normally the first point of collections) instead of stepping in only after 1 month. This will help us to determine early on if borrowers require a restructure in their repayment plan in order to fulfill their obligations to the platform investors 2. Been instructed to proactively restructure loans where we see early warning signs. We will continue to carefully manage our key indicators and evolve our risk management capabilities depending on the global economic situation. On top of this, Funding Societies’ employees have been split into 2 teams to work from home and at the office, on a weekly rotational basis. All employees also go through temperature checks before entering the office premises. We are committed to ensuring our employees are healthy so that our business remains of service to you through this period of volatility. If you have any questions, please contact us at [email protected](mailto:[email protected]) to receive updates. Best regards, Team Funding Societies
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SeedlyTV EP07

Investments

P2P Lending

Capital Match

CoAssets

Funding Societies

Minterest

JE
Jamie Evans
Level 2. Rookie
Answered on 02 Oct 2019
Margins are compressing due to competition. The platforms need to be innovative in terms of origination of assets (see Capital Match’s merger with procurement platform, Sesami). But ultimately, Singapore will be too small a market and overseas expansion is the only card to then play...or become a digital bank for SMEs
👍 1

SeedlyTV EP07

Investments

P2P Lending

Minterest

CoAssets

Capital Match

Funding Societies

Alex Chua
Alex Chua, Pcme at Anderson Junior College
Level 6. Master
Updated on 20 Jul 2019
Here are my 2-cents thoughts. As much as p2p is a tech driven fintech, it is still a service industry nevertheless. To me, whatever technology features such as auto-invest will soon be commonly used by the platforms. Without them, they will lose an edge. So you could start by asking yourself what would you like to have as an investor or a borrower. For a borrower, would be probably necessary financial advice so that they will get sufficient funds. Etc. For an investor, you want as lower risk loan as possible. Is there a sufficient supply of loans? Which platform provides a better investing experience? the extensiveness of platform providing the loans. How receptive are the platform to feedback and their responsiveness in changes? Having a good customer base, along with a good support team could improve your rewards and user experience. Furthermore, having 0% default rate is ideal. However, is your funds put into desirable rewards investment? This also questions the response of the platform in a situation of defaults. In choosing the platform, ask yourself what gives you a better piece of mind. Is it within your risk-reward? Which loan product do you prefer? (there is some difference in loans offered among the platform) what is your ability? (your fund size and risk tolerance ). You should also filter the reviews and forums of the platform. Remember this is a service industry. In my opinion, a good service, or user experience should be the main factors in choosing the platform. A good service attracts more borrowers and in turn attracts more investors. A good service is what drives the platform to innovate and constant improve themselves. Do your due diligence. Feel free to Facebook msg me if you have any queries.
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P2P Lending

Funding Societies

CoAssets

MoolahSense

Capital Match

Minterest

SeedIn

Cassandra Tho
Cassandra Tho
Level 5. Genius
Updated on 18 Apr 2019
I'm Cassandra, the community specialist from CoAssets. Allow me to give you the objective view of my findings. All calculations except for Capital Match are according to MAS's standards. Rate of returns per annum in 2018, ranked according to weighted average returns) 1. Minterest: 3.5-24% (Weighted ave: 12.95%) 2. CoAssets: 9-10% (Weighted Ave: 9.91%) 3. Moolahsense 5.90%-16.82% (Weighted Ave: 9.9%) 4. Funding Societies: 6.51-17.79% (Weighted Ave: 9.32%) 5. SeedIn: 7-20% (Weighted Ave: 8.33%) 6. Capital Match: 15-20% APR (Weighted Ave: unknown) Default rates (measured as non-performing loan rate beyond 30days) in 2018, ranked in descending order 1. Moolahsense: 14.82% 2. Minterest: 0.59% 3. Funding Societies: 0.47% 4. SeedIn: 0.32% 5. Capital Match: 0.20% 6. CoAssets: 0.00% Note that stats are according to internal standards and not MAS's criteria. Even after 90 days, Capital Match does not classify it as a default, unless the company is in the windup, has undergoing lawsuits, or the director(s) declare bankruptcy. Furthermore, Capital Match does not have an updated statistic based on 2018; thus this internally calculated rate is for 2017. In summary, the services these platforms provide are similar. All these platforms provide opportunities for retail investors to invest in a variety of projects. The difference is that CoAssets is the only listed online funding platform which means that they're obliged to give transparent performance updates twice a year. Their rate of returns, default rates and profits are under the scrutiny of the Australian exchange and the public, bare for all to see. As for the rest, the data provided above was based on the information provided on their website. Another factor to consider is hidden costs like service fees or surcharges within the rate of returns. For CoAssets specifically, the investors get the full interest back. For others, for example, the interest rate may be 20% but they may charge a 1% service fee resulting in an actual return of 19% only. I'm open to discussing any of the mentioned points should someone else's findings be different. I hope this helps. References: MAS guidelines: http://www.mas.gov.sg//media/MAS/Regulations%20and%20Financial%20Stability/Regulations%20Guidance%20and%20Licensing/Securities%20Futures%20and%20Fund%20Management/Regulations%20Guidance%20and%20Licensing/Circulars/CMI%2027%202018%20Controls%20and%20Disclosures%20to%20be%20Implemented%20by%20Licensed%20Securities%20Based%20Crowdfunding%20Operators.pdf Moolahsense: https://www.moolahsense.com/statistics/ Minterest: https://www.minterest.sg/statistics Funding Societies:https://fundingsocieties.com/ SeedIn: https://sg.seedin.tech/statistics CoAssets: https://coassets.com/asx/about/ Capital Match: https://lending.capital-match.com/statistics.html
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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 the 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

Transfer a minimum of $1,000 to the Minterest-identified escrow account to commence your investment journey. Typical minimum investment amount is $50 but may be higher or lower in certain situations. Additional investments can be made in multiples of $10, $50 or $100 depending on the conditions set by the Funding Request.