Mintos interest rates dip in February as daily average investments rise
Mintos reported a dip in interest rates in February, which it attributed to an increase in the average amount invested on the platform.
The European lending marketplace said the average daily investment was €2.56m (£2.28m) last month, up from €2.52m in January.
As a result of this increase in demand, there has been a slight decrease in the interest rate, Mintos said.
In January the interest rate was at 13.5 per cent, whereas in February it fell slightly to 13.3 per cent.
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The average net return was 1.54 per cent in February, with €3.4m earned in interest by investors during the month.
“This trend may continue going forward, and we may see a further decrease in the interest rate due to an increase in investments coming in from new investors,” said head of partnerships Peteris Mikelsons.
“However, any decrease in the interest rate is unlikely to be significant and will likely fluctuate around the current rate at 13 per cent.”
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Mintos saw its total investments dip slightly month-on-month, with €71m invested in February, compared with €78m in January, although it should be noted that February is a shorter month.
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