March 17, 2020
The interest on pending payments will be 1.2x the interest of the loan in question
From now on, investors will earn interest on pending payments that are behind the schedule. In other words, investors will be compensated for any delays in settling pending payments.
The interest on pending payments will be 1.2x the interest of the loan in question. Investors can expect to receive the interest weekly, once it’s been paid by the respective lending company.
The interest will be calculated on both the principal investment and interest, and the calculation will begin after the settlement period (7 days) has ended.
Investors should note that there is usually a rotation of loans in the pending payments system – some payments might be released while others change to “pending” status. As a result, it may look as though the pending payment amount has not changed.
Follow pending payments
Mintos also added a new column to the datasheet on their Statistics page that shows the average days pending – that means, the calculated average time that pending payments are not transferred from borrower to investors by the respective lending company.