MINTOS REVIEW: PROS & CONS
Have you come across this financial app and wonder what it is all about? In this review, we will walk you through the key points to consider when evaluating its features and benefits.
Last Update:
27.6.24
BASIC INFO
Mintos, established in Latvia in 2015, is an online lending platform allowing users to invest in peer-to-peer loans and earn returns.
Mintos has over 300,000 registered users from 63 countries. However, it has faced criticism for high fees in the secondary market and delays in loan repayments.
PROS & CONS
PROS
CONS
Poor Customer Support
This trading platform offers limited customer support, leading to delays in resolving issues or inadequate assistance for traders. With subpar customer support, traders may face challenges in getting timely responses to their inquiries, resolving technical difficulties, or receiving necessary guidance.
Lack of Educational Resources
This trading platform lacks comprehensive educational resources, making it challenging for traders to access valuable learning materials and enhance their trading knowledge. Without access to educational resources, traders may struggle to understand complex trading concepts, strategies, or market analysis, limiting their ability to make informed trading decisions.
APPS
LOAN APP
A credit app streamlines the borrowing process by offering a digital platform where users can apply for and manage personal loans. Users typically start by creating an account and entering personal and financial information, which may include income, employment details, and credit history. The app then uses this data to assess creditworthiness and determine eligibility for loans. Once approved, users can select loan amounts, view terms, and finalize the loan agreement digitally. The app may also provide features for tracking loan repayments, viewing balance statements, and communicating with customer service. Some credit apps offer financial education resources and tools to help users manage their credit and finances effectively.
The image shows the user interface of the mobile investment application, highlighted by its intuitive and easy-to-navigate design.
The main screen presents a clear and concise view of the loans.
ACCOUNT OPENING
Steps to Apply for Online Credit
The process to apply for credit online with a financial company is straightforward and involves key steps to ensure security and efficiency. Here are the detailed steps:
Visit the Official Website: Find the option to apply for credit, typically highlighted on the homepage.
Complete the Application Form: Provide personal and financial details such as name, address, email, employment, income, and credit history. Additional information may be requested to assess your creditworthiness.
Identity Verification: Upload documents for identity verification, which may include photo ID and proof of income or residence.Credit Evaluation: The company will review your application to determine your eligibility for credit.
Approval and Credit Agreement: Once approved, review and accept the credit terms and conditions to finalize the agreement.
Deposit & Withdrawal Methods
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ASSETS & SERVICES
Mintos acts as an intermediary between investors and lenders on the P2P loan investment principle. Mintos offers:
Various investment strategies: diversified, conservative, high valuation, and personalised.
Interest rates ranging between 6% and 22%, with an average of 12.5%.
Return-on-investment guarantee if loan payments are delayed for over 60 days.
REGULATION
Latvia
FKTK
Financial and Capital Market Commission