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What are the eligibility criteria to become a lender?

To lend on the Monexo marketplace, you must meet the following basic criteria.

As an individual:

  • Be 21 years of age or above
  • Have a valid HKID Card and a Passport
  • Have a bank account in Hong Kong

As a business/company:

  • Be a valid HK incorporated entity
  • Have a valid business registration certificate in Hong Kong

Note:These are the minimum requirements. All lenders are subject to Monexo screening and approval process.

Can I open more than one account for lending?

At Monexo, you need just a single account to manage your portfolio. With this account you can fund several loans and have a dashboard view of your loan portfolio.

Is there a minimum amount I need to open a lender account?

As a lender, the minimum amount that we currently require to open a new account is HKD 100,000. This amount may change in the future. We will update the website and inform you if there is a change.

What are the fees charged from a lender?

Monexo charges a one-time non-refundable application fee in addition to a percentage of the monthly loan repayments from borrowers as servicing fees.

What are the returns I can expect from the funds that I lend?

The interest you earn on the funds that you lend depends on your selection of the loans that are listed in the marketplace which clearly mentions the interest rate. The interest rate is locked for the tenor of the loan once the loan is funded. The information presented here is for information purposes only and is not intended to be investment advice, guidance, or a guarantee of the performance of any loan agreement or portfolio. Please also read our Terms of Use on this issue.

Why do you ask for my documents?

Please note the reason we ask for some documentation is to comply with requirements of Hong Kong government regarding anti-money laundering activities. We obtain and record information that identifies each person who registers with us. 
What this means for you: When you open an account, we ask for your name, address, date of birth and other information that will allow us to identify you. We do not disclose your income and wealth self-declaration to anyone outside Monexo.

Who makes the decision to lend?

As an approved lender, you make the lending decision, decide on the amount to fund and manage your own money.

What are the loan products currently listed in the marketplace?

Currently, we are offering 2 loan products, namely Personal Installment Loan and Rent Cash-in Loan. For Personal Installment Loan, the loan amount ranges from HKD10,000 to HKD500,000 and the loan tenor varies from 6 months to 48 months. For Rent Cash-in Loan, the loan amount ranges from HKD50,000 to HKD1 million and the loan tenor varies from 6 months to 48 months.

What does Monexo verify prior to listing a loan in the marketplace?

Monexo verifies the information provided by the borrower viz.,

  • Personal information – HKID, Passport, Residence Proof
  • Property information – Stamped Tenancy Agreement
  • Financial information – Income Tax Returns, TransUnion Report Monexo approves only those borrowers for loan listings who pass through its screening process.

Monexo will reject all borrower applications wherein material information cannot be verified or there are inaccuracies in the information provided.

What is a Monexo Rating?

Every loan application received by Monexo is screened and given a Monexo Rating.

The Monexo proprietary screening system is based on the information provided by the borrower in his loan application form and the supporting documents (which includes his income details and past payment history).

The ratings range from M1 to M10, with M1 being the best. The interest rate associated with the M1 to M10 band will vary based on Monexo’s Policy. Currently, Monexo does not list loan applications that have a Monexo Rating of M9 to M10.

Once the loan listing is approved, the Monexo Rating is displayed in the marketplace along with the loan listing details for you to view.

You may choose a range of rated loans if you wish to earn an interest in a specific range. Do note that Monexo Ratings are not a guarantee from Monexo on the performance of the loans.

What are the risks involved and how are they addressed?

All investments involve risk, but we are 100% committed to providing outstanding products and customer service, and protecting the safety and security of your personal information. Risks are addressed through:

  • Online security measures
  • Third party, independent trust company holding the funds
  • Diversification – by lending to many borrowers

What is diversification?

Diversification is an important feature in peer to peer lending. It gives you the ability to lend small amounts to different loans instead of funding one loan in entirety without the administrative hassle of managing these small loan amounts. By diversifying the amount that you lend to a number of borrowers, you diversify your risk.

How do I build my loan portfolio?

Instead of funding an entire loan, you can participate by funding parts of loans.

You may choose to spread your money across several loans in order to create a diversified portfolio. Using the Monexo Ratings or other selection criteria, you can balance the risks & returns and build a loan portfolio that suits your goals. You can choose a mix of different loan products, loan amounts, tenors, Monexo ratings and purpose of loan etc.

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How will I know when a loan is listed on the marketplace?

We encourage you to login to the marketplace regularly and view the loans listed. We will also periodically inform you about new loan listings in the marketplace. Here is an illustration on how loans are displayed in the marketplace.

View marketplace screenshot

What is the minimum amount that I can lend to a borrower?

The current minimum amount you can lend on a loan application is HKD1,000. You can fund a loan in multiples of HKD1,000. This can change in the future and our website will be updated with the new amount.

Where and how do I transfer money to lend through the Monexo marketplace?

Once you are an approved lender, you need to transfer a minimum amount of HKD100,000 into the administrative account. You should transfer the money from the same bank account that you have provided in your application process. All bank charges will be borne by you. Once we sight the funds in the administrative account, the same will be reflected in your account details in the Monexo marketplace. Administrative account details:
Bank Name - Standard Chartered Bank
Bank Address - G/F, 55 San Fung Avenue, Shek Wu Hui, Sheung Shui
Bank Code - 003
Branch Code - 973
Name - The Hong Kong Trust Company Ltd - Monexo Innovations Limited
Account Number: HKD C/A 973-0-030291-3

What is HKTC?

The Hong Kong Trust Company Limited (HKTC) was incorporated in Hong Kong in 2009 and is registered under the Hong Kong Companies Ordinance. HKTC has obtained registered status as a trust company under Part VIII of the Hong Kong Trustee Ordinance.

It holds all funds on behalf of the lenders and receives repayments from borrowers who transact through the Monexo marketplace. This provides you as a lender with additional safety. Monexo keeps an arm’s length from borrower and lender money transactions. This is the best practice from UK FCA regulations for Peer to Peer Lending.

HKTC simply acts as an administrator and does not guarantee your investment in any way. You should undertake careful study of the loans you choose to satisfy your requirements. Your money is in your control through the HKTC administrative account.

View account management screenshot :

Can I continue to lend or withdraw funds?

It is easy to lend the money you receive from monthly borrower repayments by funding new loans listed in the marketplace. You manage your own money. We give you flexibility to withdraw your available cash at any time by requesting a withdrawal transfer from your administrative account with HKTC to your registered bank account by writing to info@monexo.co. Please note all bank charges will be borne by you.

Are funds withdrawn from my administrative account each time I fund a loan in the marketplace?

Every time you bid for a loan in the marketplace, the amount you have funded is set aside while the listing is still active in the marketplace.

For example: If you have a balance of HKD450,000 in your administrative account and you fund a loan with an amount of HKD40,000, the amount available to you for funding further loans in the marketplace will reduce to HKD410,000. As soon as the listed loan gets funded as per funding norms, your funds (HKD40,000 in the above example) are withdrawn from the administrative account and disbursed towards the borrower loan.

In the following scenarios, your funded amount that has been set aside will not be withdrawn from your account and will be made available to you for lending:

  • If there is insufficient funding for a listed loan – less than 60% of the requested loan amount on the last day of listing
  • If Monexo cancels the listing
  • If the borrower withdraws from the listing

What happens if a borrower is late on a payment?

If the borrower does not transfer money by due date, e-mail reminders will be sent. The borrower is given a grace period whereby he needs to pay latest by the 5th of the month.

A late payment fee of HKD350 is also charged for payment after the grace period.

In case of late payment, the defaulting borrower is charged with an additional penal interest of 24% p.a. calculated on a daily basis till the date of receipt of the amount due.

The late payment fees and penal interest received from the borrower is distributed pro-rata amongst the lenders of the loan.

What happens in case a borrower defaults?

Monexo follows a screening criteria for approving borrowers. However, Monexo cannot guarantee repayment of borrower loans as borrowers may miss repayments due to various reasons.

When a borrower misses a payment, Monexo makes reasonable efforts to collect outstanding payments. Regular follow up with the borrower is done by Monexo for overdue amount.

When the overdue is for more than 30 days, it is referred to a professional HKMA approved collection agency to collect the overdue amount on your behalf. The fees charged by the provider will depend on the period of the default and effort required to collect. Monexo will pass on the fee to you transparently and will not make any money on the collection process.

How do I receive my monthly payments?

When a borrower makes a repayment on a loan, after a short processing time, your portion of the payment will be added to your available cash balance in your HKTC administrative account. You can use the funds to invest in more loans or transfer them to your bank account, as you wish.

What happens if a borrower pays off a loan early?

The borrower has the option to prepay the balance loan amount, provided he intends to repay 100% of the amount due (including the interest due till date) in one go. There is no penalty or charge to the borrowers for prepayment. On receiving the balance amount from the borrower, your portion of the repayment received will be added to your available cash balance in your HKTC administrative account.

Partial prepayments are not allowed.

What happens if the Rent Cash-in Loan borrower decides to sell his property?

The Rent Cash-in Loan borrower has a choice to sell his property. However, according to the terms of the loan, he will have to pay off his Rent Cash-in Loan completely under the Monexo agreement before the sale is completed.

For a Rent Cash-in Loan, what happens if the tenant does not pay the rent to the borrower?

The borrower is still responsible for the Rent Cash-in Loan even if the tenant stops paying rent to the borrower.

What happens if Monexo shuts down?

Monexo has appointed an independent administrator The Hong Kong Trust Company Limited (HKTC) to manage the administrative account. In the event of Monexo's assets being harmed or Monexo going into liquidation, this will not affect your money. This still belongs to you. For money that has been lent, HKTC will continue to receive repayments from borrowers and distribute the collected payments to the lenders.

What are the risks involved and how are they addressed?

All investments involve risk, but we are 100% committed to providing outstanding products and customer service, and protecting the safety and security of your personal information. Risks are addressed through:

  • Online security measures
  • Third party, independent trust company holding the funds
  • Diversification – by lending to many borrowers

Is this product a note, bond or Collective Investment Scheme?

No. This is a pure loan in which you are the lender and the person who is receiving the funds is the borrower. Monexo has created this marketplace to connect smart and savvy lenders to smart borrowers.

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What are the fees charged from a lender?

Monexo charges a one-time non-refundable application fee in addition to a percentage of the monthly loan repayments from borrowers as servicing fees.

Do I earn interest on my money held in the administrative account?

You start earning interest when the loan that you have funded is disbursed to the borrower. You do not earn interest on your committed funds in the marketplace or in the money held in the administrative account. To maximise your returns, please monitor your loan portfolio regularly to deploy your funds effectively.

What are the returns I can expect from the funds that I lend?

The interest you earn on the funds that you lend depends on your selection of the loans that are listed in the marketplace which clearly mentions the interest rate. The interest rate is locked for the tenor of the loan once the loan is funded. The information presented here is for information purposes only and is not intended to be investment advice, guidance, or a guarantee of the performance of any loan agreement or portfolio. Please also read our Terms of Use on this issue.

When do I start earning interest?

When you have selected the loans to fund and we have disbursed the funds to the borrowers you will start earning interest. You do not earn any interest while your funds are held in the lenders funding account.

Contact Us:

+852 2861-8757

+852 9548-0040

info@monexo.co