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Got another promotional e-mail from Mintos.com peer to peer lending marketplace, informing about the opportunity to invest in Russia issued loans in roubles (RUB) by EcoFinance. It's said that interest rates are up to 17% in Roubles.
Well, you shouldn't be a genius and already knew all the bad stuff happening with the Russian Rouble (not to speak about the overall Russian economy), frankly speaking it doesn't seem even interesting for me this time, on the other hand, if I were located in Russia (would have some connection with Russia) I would probably take some risk.
Both individuals and entities can invest through Mintos. Individual investors must be at least 18 years old, have a bank account in the European Union or third countries currently considered to have AML/CFT systems equivalent to the EU, and have their identity successfully verified by Mintos. At the moment, US citizens or taxpayers cannot register as investors at Mintos.
Affiliate link here: Sign up to Mintos.com here. By using this affiliate link for registration both you and I will receive — 1% of your average daily balance which should be paid in 3 installments for the first 90 days.
Disclosure - I'm not a financial advisor and I don't give you advice nor endorse to invest via peer to peer lending. Investments in peer to peer lending, stocks, funds or bonds are risk investments and you could lose some or all of your money. Do your due diligence before investing in any kind of asset.
Now, here is what its all about:
Investors on Mintos can now invest in online unsecured personal loans issued by EcoFinance in Russian rubles (RUB). This new investment product will allow Mintos investors to earn much higher rates of return and increase diversity.
EcoFinance was the first loan originator from Russia to join the Mintos marketplace and now offers its RUB loans for investment with annual returns of up to 17%. Russia-issued EcoFinance loans listed in RUB range from around RUB 5 000 to 30 000. The repayment period is up to 30 days.
There are two ways to invest in RUB loans on Mintos: transferring RUB directly to your investor’s account on Mintos or by converting your primary currency into RUB on the Mintos marketplace. For EUR to RUB conversions on Mintos, there is a market-level fee of 0.7%. Find out more details on “Deposit/Withdraw/FX” section in your investor’s account.
So far so good, as said I wouldn't risk exchanging EUR to RUB, but if I would have Roubles, sure I would probably give it a try.
EcoFinance joined Mintos in November 2017, initially offering its unsecured personal loans for investment in euro (EUR). Already, the company’s turnover through the Mintos marketplace is more than EUR 400 000.
The Bottom Line
Taking into consideration current affairs between US, EU, and Russia- I actually have some doubts now about the sustainably of Mintos.com platform in the long-term. By exposing funds to Russia, Mintos could probably be hit by some sanctions hammer (sooner or later). Well, I'm not sure about this and probably only time will show. But that makes me little alarmed in fact now.
As I have said many times before regarding investments in Mintos.com platform - I'm not planning to hold here more than EUR 5,000.
What about you? What are your thoughts regarding Russian market and Mintos.com lending platform?