NeoFinance Analysis

NeoFinance @ Savings4Freedom

NeoFinance Account Update

Investment Start Date: March 2019

Total Deposits: 33,32€ (August 2019)

Asset Value: 58,56€ (August 2019)

NeoFinance Platform Analysis

Last Update (01.09.2019)

NeoFinance is quite an interesting P2P lending platform. I started my investments at NeoFinance in March 2019 and immediately understood that is not a usual P2P lending platform.

What makes NeoFinance different from other peer-to-peer platforms is that it has an unlimited e-money institution license. This allows NeoFinance to work anywhere in the European Union. NeoFinance is similar to a banking system. Each user account has its own International Bank Account Number (IBAN) account. So, you don’t send money to NeoFinance, but to a Lithuanian bank account under your user name. This gives your capital an extra safety net. If you want, you can also use the IBAN account to transact payments like with a typical bank instead of using it for P2P investment.

You need to decide if your NeoFinance investments are secured or insured. When searching for investments, there’s also a check to enable or disable the provision fund service. You will expect a lower yield if the provision fund service is enabled, but if the borrower is late, NeoFinance will cover the payments. Neofinance will use the funds collected in the provision fund to cover the payments you would otherwise not get. NeoFinance also offers a buyback guarantee system. If you don’t want to enable the provision fund service and the credit you invested in defaults, you can sell it to Neofinance for 50-80 percent of the investment value, depending on the risk rating on the loan.

Another aspect to consider is that the manual investment choice gives you minimal options. NeoFinance lets you view the loan duration, interest rate, and how much capital is still available for investment. But, you don’t have a choice to sort the loans based on any of these features. Some of the columns have a filtering option, but the interest rate column doesn’t have that feature. You will have to scroll down the list of available loans and pick the loans you’re interested in.

Creating a NeoFinance investor account is easy if you are a citizen of the Europen Union. All you need to do is provide your ID, passport or a valid way to identify you in order to get an IBAN account. Adding funds to your account is surprisingly quick and easy. The NeoFinance platform gives you a personal IBAN account number to add your funds into. During banking hours, it takes thirty minutes or less to transfer funds to your account.

In my opinion, NeoFinance is a great P2P lending platform for experienced investors. Since this platform can be quite complex to navigate, it is not the best option for new investors to start with.

Analysis TopicPersonal Take
13 - Type of Loans

Type of Loans Available

Consumer
1 - Interest Rate

Average Interest Rate 

~20%
2 - Buyback

Buyback / Secured Loans

Yes & No
3 - Liquidity

Early Exit / Secondary Market

Yes
4 - AutoInvest

Auto Invest Feature

Yes
12 - Control Over

Control over Loans Invested

Yes
5 - Money Drag

Money Drag

No
11 - Hiden Fees

Hiden Fees

Yes. Withdraw
6 - Time

Loan Duration

1 month to multiple years
7 - Reporting

Reporting Tool

High Quality
8 - User Experience

User Experience

Medium Low Quality
9 - Rewards

Sign-up Bonus

25€ sign up bonus if you sign up through my referral link
10 - Evaluation

Overall Evaluation

6/10


My NeoFinance Account

Neo Finance Account @ Savings4Freedom

NeoFinance Income Graph

NeoFinance Returns @ Savings4Freedom

Do you want to Invest?

Check among the P2P crowdlending opportunities available on Savings4Freedom, always taking into consideration that all information is entirely based on my personal experience.

Investe @ Savings4Freedom

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