Credifiel, which claims to be one of the largest Mexican payroll lending companies specializing in loans for government employees whose loan repayments are deducted directly from their salaries, has “launched a cashback offer.”
For a limited time, you can “earn a cashback for investments in Notes” for Credifiel:
- 0.5% for Notes with a remaining term of 14 months 0 days to 20 months 0 days
- 1% for Notes with a remaining term of 20 months 1 day to 30 months 0 days
- 2% for Notes with a remaining term of 30 months 1 day and more
As clarified in the update, this offer is “valid from 28 November to 11 December 2022.”
To qualify for the cashback bonus, you’ll need “to enroll in the campaign and invest a minimum of €100 (cumulative) into qualifying Notes for Credifiel.”
As of 28 November, there’s “almost €1.4m million worth of qualifying loans available on Mintos with interest rates of 10-11%.” For more details, check here.
As noted in the update, only investments “made on the Mintos Primary Market via manual investments or custom automated strategies qualify.”
Investments made “before enrolling or made via Diversified, Conservative, or High-yield strategies are not eligible.” The cashback will be “credited to your Mintos account within 7 business days after making the investment.”
Credifiel loans are “listed on Mintos in EUR.” The original currency in which the loans were issued “is the Mexican Peso.”
At the time of the cashback launch, 62.8% of outstanding investments “in Credifiel loans (via Notes and claims) on Mintos are current.”
The company “has no payments that have been pending longer than the normal settlement period of 8 days.” For changes “in the pending payments status, see Loan statistics.”
As noted in the update, Credifiel was “founded in 2005 as one of the pioneers in payroll lending and since then has grown to be the Top 5 payroll loan provider in Mexico by expanding across smaller towns where banks do not have branches and people lack access to credit even though they fit the borrower profile.”
Credifiel’s customers “are employees of government agencies and federal states.”
Public sector jobs “have a very low employee turnover, thus guaranteeing higher loan repayment rates.”
As inherent security, “the loan repayments are deducted directly from the employees’ payroll.”
To make sure their clients are creditworthy, Credifiel “has a team of experts in security analysis that includes not only the regular financial checkups and KYC but also details such as signature analysis to avoid potential identity frauds.”
The security of Credifiel’s investment opportunities “consists of a direct loan assignment complemented by an extra layer of pledges over loans listed on Mintos, which are established to secure investor claims.”
There is also “a third-party trust provider securing the cash flows, and Mintos is the first beneficiary of the repayments coming from particular loan agreements.”