My Monefit Review: 10.5% on my €15,700!
Monefit has established itself as a lucrative alternative to traditional instant access savings accounts: the company uses its experience in the field of personal lending to pay you a generous 7.5% interest with immediate availability. With a slightly longer commitment, you can even get up to 10.5%!
I have been with them for more than 3 years and have invested over €15,700. During this time, I have had many positive and few negative experiences. Read this review to find out whether Monefit could be right for you.
In brief:
- Monefit is a service offered by the Creditstar Group, which has been successfully providing P2P lending for many years.
- You receive high interest rates: 7.5% per annum if you want to be able to withdraw capital without time limits.
- If you are prepared to tie up your money for a little longer, returns of up to 10.5% are possible.
- It is a ‘one-click platform’: you do not have to worry about anything. Simply deposit money and you are ready to go.
My Monefit SmartSaver review: the most important information
With traditional P2P platforms, investors choose which lending they want to invest in. This involves a certain amount of effort and additional risk, but is also rewarded with high interest rates.
So-called ‘one-click platforms’ such as Monefit offer an exciting alternative: here, you don’t have to actively manage your loan portfolio! All you need to do is make a deposit and your capital will immediately start earning interest.
You can withdraw your money at any time, giving you complete flexibility. In return, the interest rates are slightly lower than those offered by other providers in my P2P lending ranking. However, in my experience, at 7.5%, Monefit still outperforms any instant access savings account and comparable offers!
If you already have experience with P2P lending, you will immediately notice how easy Monefit is to use. Since you don’t have to select loans, set up auto-invest or perform any other tasks, investing is child’s play.
- You simply pay the desired amount into your Monefit account. Your capital is invested immediately and automatically
- There is 7.5% interest per annum. Your share is credited to you daily, which ensures a strong compound interest effect
- Smaller payouts of up to €1,000 per month are possible immediately
- If you want to withdraw larger amounts, you will have to wait up to 10 working days.
- Additional offers such as vaults (higher interest rates, but also fixed terms), savings plans or automatic payouts can also be used if desired.
The story behind Monefit
The Creditstar Group was founded in Estonia back in 2006. Since then, it has achieved considerable success in eight different countries with several loan products. One such product was Monefit: experience at the time showed that easily accessible, modern online solutions for P2P lending were the future.
- Thanks to its simple registration and lending process, Monefit has already lent money to more than 1.3 million borrowers
- More than €302 has been invested
- More than 30,000 investors have earned over €18 million
With SmartSaver, a new business area was specifically created.
The Monefit team brings a wealth of experience in finance and the P2P market. CPO Kashyap Shah has been working in consumer lending for 22 years and has worked for some of the world’s largest banks. He answered my questions in an extensive interview.
| Established | 2006 |
| Headquarters: | Riga, Latvia |
| CEO: | CPO Kashyap Shah |
| Assets under management: | Over EUR 302 million |
| Regulated: | P2P platform not regulated, loan originators are regulated |
| Annual report: | Available |
| Investors: | Over 30,000 |
| Return: | 7.25% with immediate availability Up to 10.52% for ‘Vaults’ with a term |
| Repurchase guarantee: | Not applicable |
| Minimum investment amount: | 10 EUR |
| Auto-Invest: | Yes |
| Secondary market: | No |
| Tax certificate: | Yes |
| Bonus programmes: | €5 instant bonus plus 0.5% for 90 days with my registration link |
The Creditstar Group can confidently be described as one of the oldest and most important companies of its kind in Europe: it has been active in its home country of Estonia for 20 years and has consistently generated profits since its inception – currently over €10 million per year!
This is unique in the P2P market, as many competitors are still in the red even after a decade of lending! Even the largest platform, Mintos, has recently posted losses, as I described in my Mintos review.
How does the business model work?
The basic concept of one-click platforms was introduced in Europe by competitor Bondora: the Estonian company is one of the oldest providers of personal lending. I also gained my first P2P lending review with Bondora early on.
The actual business model is as simple as it is ingenious: the Creditstar Group grants lending to people from the following countries:
- Spain
- Sweden
- Great Britain
- Denmark
- Poland
- Czechia
- Estonia
- Finland
Borrowers use the money for necessary purchases, luxury items, to bridge the gap until their next salary, and much more. They pay interest on this, which can range from a fair 4.4% to an extreme 73% per annum!
Despite these high costs, thousands of people take advantage of the offer, many of them even regularly.
The Creditstar Group is always on the lookout for additional capital to finance even more lending. Through its in-house platform Monefit, investors like you and me can provide the funds. In return, we receive a handsome portion of the interest!
Of course, the Creditstar Group also benefits from this:
- it skims off a portion of the interest for itself. Its profit was recently over 16%.
- Thanks to refinancing by private investors, the group can grow very quickly and issue further loans.
- The additional capital also allows it to operate even more efficiently, increase profits and take full advantage of the opportunities offered by the current market.
Monefit and the Creditstar Group naturally also do something for their money: they check loan applications, take care of the granting of loans, ensure timely payment, collect late payments and operate the stylish website through which everything is done.
The default rates are extremely low, which is probably due to the strict selection criteria: Only about 30 percent of people who apply for a loan are accepted.
Good to know: Monefit SmartSaver follows the same business model as its competitor Bondora with its ‘Go & Grow’ programme, but easily surpasses it. You can find out why in my report Monefit vs. Bondora.
Register and secure your bonus
An important reason why my experience with Monefit has been so positive is that everything works very simply and without unnecessary options! Registration is no exception. Use my link to immediately receive €5 and 0.5% additional interest for the first 90 days.
You will need the following for the registration process:
- Citizenship or residence permit in an EU country or Switzerland
- Smartphone with a working internet connection
- Identity card, passport or residence permit
- An email address
- A bank account for depositing and withdrawing money
Monefit SmartSaver advertises its simple registration process on its own website. As promised, registration is indeed very straightforward.
I was able to complete the registration in less than 10 minutes, but there are isolated reports of people who initially had to submit additional documents.
A look behind the scenes: Monefit SmartSaver uses the experience of the P2P platform Lendermarket (from the same group) for its infrastructure. This has a positive impact in various areas.
Deposit, invest, collect bonuses
Monefit makes it difficult for analysts like me, because what can I say about using such a simple and clear platform? After registering and logging in for the first time, you immediately see a stylish, sleek dashboard:
As a new customer, all your assets are still at €0, but we’ll change that right away! You’ll find the ‘Deposit money’ button in the middle of your dashboard. You can deposit any amount via your bank account or credit card – but the minimum investment amount is €10.
If you used my link to register, you will also receive €5 immediately. There is also an additional 0.5% interest, which will be credited to your account in one lump sum after 90 days.
Thesavings plan is an interesting alternative. If you already have experience with ETFs, you are probably familiar with the concept: you can buy ETFs via a savings plan or a one-off investment. Savings plans are executed at recurring intervals, which leads to price advantages for products with fluctuating prices.
With Monefit, you don’t have this price advantage; nevertheless, the feature is very exciting because it helps you build wealth regularly and effectively! This automates your investments and completely removes any emotions. This ensures better results in the long term.
What can I invest in?
Investing money with Monefit is kept as simple as possible:
- Deposited money is invested immediately and generates interest
- There is no function for temporarily storing your money without investing it
- Interest is paid daily.
For this ‘standard investment’, you currently receive 7.5% interest per annum. Other P2P platforms may offer more in this regard, but they cannot compete in other areas! Daily payouts are a huge advantage that few competitors can offer.
In my experience, Monefit is ideal for passive income from P2P lending– and truly passive, without any loan selection, adjustments, etc.! You can make very efficient use of the compound interest effect thanks to the regular payouts.
The second investment product is the so-called Vaults: they offer you higher interest rates, but also tie up your capital for longer, making them comparable to a fixed-term deposit account. They fit very well into Monefit’s product range, as it now offers alternatives for both instant access and fixed-term deposits!
Interest rates are currently at a maximum of 10.52% and are available if you commit your money for two years. They can be worthwhile if you don’t need the capital at the moment and trust Monefit or the Creditstar Group. I have also had very good experiences with Vaults and use them to increase my returns a little.
How payouts work
Interest is credited daily, so your first profits will quickly accumulate at Monefit after you register. If you want to withdraw them, you have two options:
1. The ‘classic payout’
This is the standard option, where you transfer the desired amount from Monefit to your account. If you already have experience with P2P lending, you will be familiar with the concept, but you may be surprised by the speed: you don’t have to sell loans on the secondary market or wait for the term to end!
Instead, you can withdraw any amount (that is not invested in vaults) immediately. Up to €1,000 per month will be credited to your account immediately. Larger amounts will be credited to your account after a processing period of 10 days.
2. Passive income
The name is a little confusing, but ultimately accurate: with the ‘passive income’ feature, you can have your interest paid out automatically to your account on the 1st of each month.
This option is therefore ideal for anyone who actually wants to use their interest and doesn’t want to wait. Of course, the compound interest effect is lost, but it is still a practical feature if you have already built up your assets.
My experience with Monefit SmartSaver: How I earn up to 10.5% on my €11,000
My experience with Monefit goes back three years and can be summarised very easily: Everything went perfectly! Payments were always made as promised and everything works very easily. That’s why I quickly increased my investment amounts.
I currently have over €15,700 invested, of which:
- Around €10,900 is in the ‘main account’ with 7.5% interest and daily availability
- Over €4,800 is in vaults with interest rates of up to 10.52%, but also terms of up to two years
My effective return (combination of main account and vaults) was 8.21%. For an investment with quick availability, this is an excellent value!
So far, I have earned €1,710 in interest. A very strong result for only three years of investment! Other providers might have offered higher returns, but I would not have had access to my money at any time.
Risks: How secure is my money with Monefit SmartSaver?
As with all P2P investments, there is a fundamental risk with Monefit. However, thanks to the Creditstar Group’s excellent financial position and decades of experience in this business, the risks can be confidently classified as low (compared to other platforms).
Nevertheless, before investing, you should carefully consider whether you are willing to bear this risk! The following factors should be taken into account:
Regulations
Monefit is active in eight European countries and is fully regulated in seven of them. In the United Kingdom, which is no longer a member of the EU, the credit products are different. Here, Creditstar only offers fixed-term lending and the regulations also differ. However, the company works closely with the authorities.
The platform itself is not supervised by any financial authority. This is not an unusual situation and is not automatically a cause for concern: numerous providers in my P2P lending ranking are regulated via the company behind them and not via the financing platform.
The Creditstar Group is fully regulated in these seven countries. In the United Kingdom, it meets all requirements but is not yet officially regulated.
As investors, regulation offers us additional security. Supervision by financial regulatory authorities, combined with the Creditstar Group’s decades of experience, allows us to sleep soundly. Nevertheless, it would be great if Monefit itself were also supervised in the future.
Reports and annual financial statements
The Creditstar Group informs investors extensively about current business figures and The Creditstar Group provides investors with comprehensive information on current business figures and developments, giving us important insight into the overall state of the company and thus also Monefit itself.
There is currently no cause for concern: more than €8 million in profits were generated in 2024! An interim report available to Northern Finance (the 2025 annual report has not yet been published) shows extremely strong profits of over €11 million for the first nine months of 2025.
Even in a serious crisis, Monefit and the Creditstar Group behind it are likely to perform very well. It is broadly positioned, has survived the Covid crisis and has also always paid investors on Monefit on time.
Guarantees
The terms of use of Monefit SmartSaver explicitly exclude financial claims against the company. This means that there is no guarantee that the promised interest will actually be paid out or will be available at the desired time.
The terms of use contain the suspicious point 7.8, which states that the promised return is not guaranteed.
Is this a standard security clause from Monefit? In my experience, such exclusions are quite common; the wording chosen and the response from CPO Kashyap Shah in the interview did not give me the impression that the company wants to keep a back door open here.
Competitors also have such or similar clauses in their terms and conditions, so I see no direct cause for concern here. As always, however, you should be aware that in the event of economic problems within the group, your money is at risk.
My Monefit review: Clear advantages and disadvantages
My experience with Monefit SmartSaver has been positive so far, but a few minor issues remain. The following advantages and disadvantages stand out in particular:
Advantages
- You can withdraw €1,000 per month immediately. There is only a waiting period for amounts exceeding this.
- With Monefit SmartSaver, you are investing in a group with extensive experience and a track record of success. The group most recently generated a profit of €8 million per year and currently manages a portfolio of over €367 million!
- Monefit recently increased its interest rate to 7.5%! This puts it in a very good position compared to other one-click platforms, especially Bondora.
- The platform is super easy to use. It is clearly laid out and limited to the main functions: depositing and withdrawing money, as well as using the ‘Vaults’, ‘Passive Income’ or a savings plan if desired. A tax report can also be generated with a click of the mouse. The website is also available in a German version.
- Creditstar offers comprehensive transparency in the form of audited annual reports and other key figures.
- You get access to very attractive developed markets such as Denmark and the United Kingdom, which are hard to find on other P2P platforms.
- In my experience, Monefit SmartSaver currently has the best referral programme: you and the person you refer can each earn up to €2,500!
- With the Vaults, you also have the opportunity to earn even higher interest rates, but in return you have to tie up your capital for longer.
Disadvantages
- The Monefit platform is not regulated or supervised by financial authorities, whereas the credit broker Credistar is.
- In the past, there have been delays in repayment. During the COVID crisis, some payments via the P2P marketplace Mintos were postponed. However, investors received their money (including interest for the period) a few weeks later.
- You are dependent on the success of the Creditstar Group. Capital invested is made available to the parent company and can be used by it at its discretion. As investors, we cannot choose which regions, types of lending, etc. we want to use. The return also depends on the success of the group.
- There is no deposit protection for your capital.
- Payments of more than €1,000 can take up to 10 working days. In my experience, this is a solid figure for the P2P sector in general, but simply too long for a one-click platform.
Since all payments have always been made on time so far, this is hardly surprising! However, there are also disappointments, usually when investors do not fully understand the Monefit concept (average interest rates but excellent availability).
And, of course, there are also serious disadvantages that some investors – quite rightly – criticise. For example, the waiting time of up to 10 days for payouts is too long for many investors, even if they now receive €1,000 per month immediately. Further acceleration would be desirable here.
Conclusion: My Monefit experience has been thoroughly positive
Monefit SmartSaver is hugely popular with investors – and I am no exception! With 7.5% interest and excellent availability, the platform has carved out an exciting niche for itself as a lucrative alternative to instant access savings accounts.
Monefit is now the largest investment in my portfolio. I have invested more than €15,700 here. I mainly use the main account with direct availability and have had excellent experiences with it.
I have added a few ‘vaults’ to supplement this. My capital is tied up here for up to two years, but also earns up to 10.52% interest. Exciting features such as direct payout of earnings or asset accumulation via a savings plan round off the range.
For all investments in Monefit, we rely on the experience of the parent company Creditstar. Our capital is invested here without us being able to influence it. What may seem unusual at first to many ‘old hands’ in the credit business ensures very simple operation and a high degree of flexibility.
The company itself is very successful and manages a huge portfolio of more than €367 million. The Creditstar Group has performed well even in times of crisis and is recording steady profits.
However, a certain residual risk remains: there is no deposit protection or similar protective mechanisms. The regulation of Monefit itself could also be better.
Based on my experience with Monefit so far, I consider SmartSaver to be a very exciting offer. The interest rates alone are not the most important selling point, as other platforms offer significantly more. However, combined with high liquidity, this results in an extremely attractive product that is rightly very successful!
If the risk is too high for you, you might be better off with competitor Bondora. You can find all the important details in my report Monefit vs. Bondora. My P2P lending ranking also offers many exciting alternatives for security-conscious investors.
FAQ – Frequently asked questions about Monefit SmartSaver
