Nibble Finance Review

Nibble is one of leading European P2P platforms that connects investors to borrowers. Investors can earn up to 14% returns on loans they advance to borrowers. Investors don’t have to look for borrowers. Instead, they will be investing in Nibble and then Nibble will lend the money to borrowers. It makes the work of an investor very easy since he doesn’t have to look for a borrower. In this article, we will focus on the features, pros and cons of Nibble finance.

Nibble is not a market place, it is a platform for investing in loans. It operates on the model peer-to-portfolio. Nibble is meant both for beginning investors and for professionals. We have automated the investment process: the investor chooses the strategy, the amount, and the term of the investment. The platform itself selects the loans into the investment portfolio and manages the reinvestment.



 

How to Invest in Nibble Finance?

To start investing in Nibble Finance, the first thing you need to do is to register on Nibble website. Then verify your identity and after that, you can deposit money into your account. You need a minimum investment of 10 euros. To invest more than 10,000 euros, you need an additional verification process. You can do so by contacting the support team.

Who Can Invest in Nibble Finance?

You can invest in Nibble P2P lending if you are 18 years and above and a resident of Europe. You also need to have a European bank account or have EEA (EU + Swiss, Norway and Liechtenstein) residence/citizenship. You must also pass the verification process to start investing. Once you deposit money into your account, you need to select the type of portfolio that you want to invest in.

If you are not a resident of EEA and do not have a European bank account, you can open a non resident European virtual bank account with Wise, formerly Transferwise, Revolut or N26.

Go to Nibble website

Nibble Portfolio Options

Nibble offers two types of portfolio options. They include:

  • Test portfolio. This is a trial investment portfolio you can use to invest your cash for 21 days and earn an interest rate of 12%. You can only create a trial portfolio once with a maximum investment of 300 euros.
  • Long-term investment portfolio. This is a long-term investment portfolio that offers a 12% interest rate for a period between 3 and 60 months. There is no maximum investment amount for this account. However, if you wish to invest over 10,000 euros, you need an additional verification process.

How to Deposit and Withdraw from Nibble

Once you have created a Nibble account, you can deposit money and get started with investing. You can deposit money into the account through a SEPA bank account or through a Visa or MasterCard. The balance in your account will reflect on the platform with 1 to 3 business days. The minimum top-up amount is 10 euros while the maximum is 10,000 euros.

Reinvesting Using Nibble

With Nibble, you can reinvest your finances after the end of your term. It offers compound interest which means that you can enjoy interest on your interest. Your account earns interest on a daily basis. You can withdraw your money at any time you wish.

Nibble BuyBack Guarantee

Nibble Finance is now offering a buyback guarantee where all the investments are covered by a buyback scheme. If a Nibble loan is not repaid within 60 days, you can get back your money from Nibble. You will get back the capital invested and the accrued interest. This makes it secure for investors.

Nibble Finance Fees

Nibble does not charge the investors any fees. All fees are charged on interest payable by borrowers. Investors do not also need to pay any commission from their earnings.

Is Nibble Safe?

Nibble is governed by Estonian law. It is also licensed by the Estonian Financial Supervisory Authority (FSA), thereby making it even more secure. It is worth noting that just like any other investment, investing in Nibble has some inherent risks. For instance, it may take longer for some borrowers to pay off their Nibble loans. Besides, Nibble Finance is now using a buyback scheme that is meant to secure investors’ funds. Luckily, Nibble handles such issues.

Nibble Customer Support

You can reach Nibble customer support by email or telephone. Recently, it added a live chat option, a convenient way to reach their customer support. You can only reach customer support via live chat only if you are logged in.

Nibble Supported Countries

Nibble is available in the following European countries; Austria, Belgium, Bulgaria, Croatia, Portugal, Romania, Cyprus, Netherlands, Norway, Estonia, Finland, Germany, Greece, Hungary, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Switzerland, Slovakia, Czech Republic, Denmark, Slovenia, Spain, Sweden and the UK. Nibble Finance plans on expanding to Mexico before the end of 2021.

Nibble Pros

  • Minimum investment of 10 euros
  • High-interest rates of up to 12%
  • Loans are secured by a buyback guarantee
  • Easy and automatic investment

Nibble Cons

  • Rigorous selection criteria for borrowers
  • Limited portfolio options

Nibble Alternatives

You can use the following options as an alternative to Nibble.

Final Word on Nibble P2P

Nibble is a good option to invest your money. You are not required to pay any fees as an investor. Loans advanced to investors are secured by a buyback guarantee, protecting investors from losing their investment. It also has an auto investment option that automatically connects borrowers to investors. This means that investors don’t have to look for borrowers.

Go to Nibble website

Vincent is a writer with an interest in finance, business, technology and health niche. He holds a Bachelors degree in Applied Statistics with computing. Read more about Vincent and see our complete editorial team at FiFi.