Not very clear how it works with "Expected maturity date" changing tha much

AN

• 9/06/2022 07:26

invested in a loan with original maturity date on 19.06.2022 (Short term), then I checked it later and I see that the expected maturity date is on 16.12.2022 - almost 6 months later.

If I red well this - https://www.mintos.com/en/schedule-extension/ - the borrower can request an extension from 31 to 180 days (?) and he can do it 6 times (up to 1140 days). That does not sound as a short term.

I know that the interested is payed, but sometimes it is not only about the gain, but predictability also.

Sounds a bit too complicated.

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  Folkert

  • 9/06/2022 07:37

  On the page you link to it gives you the answer: "The total number of possible extension days is 180." So not 1140.

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  AN

  • 9/06/2022 08:00

  Let's read it carefully: "The reflected maximum number of extension periods is 6, and the usual amount of days per extension period is 31. The total number of possible extension days is 180."
  So - Maximum extension periods = 6 -> Clear

  USUSAL amount of days PER EXTENSION PERIOD is 31

  NUMBER OF POSSIBLE EXTENSION DAYS is 180 - it does not say it is per extension. Yes, there is word in the sentence "total", but it is still not explicitly say - Total per extension or total for all extensions per loan.

  Getting back to the example of the load I invested in - it seems it was just one extension for 180 days, not multiple ones. So in a way, the question is if we could expect another extension?

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  Annija (Mintos)

  Community manager

  • 10/06/2022 19:59

  Dear AN, please read more about extensions here https://www.mintos.com/blog/update-on-the-maximum-number-of-extension-periods-and-days/ . The total number overall of possible extensions days is 180.

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