6 tips for saving with a mini loan.

More and more people have crossed the threshold. Where it used to be a shame to borrow money, we are now making massive use of the possibilities, so that we can live easier or more pleasantly. It has to do with many factors, but the increased prices and the problems on the income side are usually the reason behind the search for a loan.

Unexpected unemployment, long-term incapacity for work, an unexpectedly high bill or perhaps a machine or appliance that has stopped working. Annoying, but often a mini loan is enough to get out of trouble, so that you can just pick up where you left off. Purchasing these small loans is no problem at all and that way people are quickly helped both private and business. Because nowadays we will have to do without a bank.

Why purchase a mini loan?

When you go to the bank to request a mini loan, you are generally looked at strange. The bank does not see this as one of its functions, but larger loans or credits are also being issued less and less.

The personal loan that was once so in demand has now moved to the credit companies. You can go to the banks for a chat and a cup of coffee, but you no longer have to bill for a signature.

This is not only the case in the Netherlands. Globally, banks have come in second and are still reacting very cautiously. The Dutch are fed up with this, when money is needed urgently, there must be money. An advance or a small financing that should simply be possible at a financial institution?

Where can you borrow a small amount?

Do you want to borrow 200 US dollars or do you need more and do you want to borrow 1000 US dollars? Then it is not wise to go to the bank. Borrowing money urgently is no longer possible there and getting a mini loan without a payslip is out of the question. A mini loan without BKR testing is completely out of the question, regardless of how small the micro credit may be.

You cannot apply for a mini loan at this place, you have to go to the mini loan providers and it is fortunate that there are a lot of them nowadays. They have filled the gap in the market when the banks have stepped back. Although there was some hesitation about it in the beginning, there are now thousands of people in the Netherlands alone who have a mini loan, a flash loan or an SMS loan here.

It's easy, it's fast and you have money in your account right away. Because you really do not take out a mini loan for fun. There is a hurry and that is very well understood.

Need money today?

If you still need pennies today, it is a good time to use the internet. An online mini loan can be closed quickly, but in addition to the speed, it has a number of advantages. Calculating the costs of the mini-loan are, for example, easier than getting started with a calculator and in addition, the providers can easily be compared online, so that you can quickly see which of the provider suits you best, and in your situation.

Because the situation can very determine what exactly you want to get out of the mini loan. Do you have to complete a month without any money coming in this month or are you currently out of work and preparing for the next job? It is a completely different approach and online you can see exactly who has the best option for you.

It is of course important to look carefully which of the providers you choose. Most people tend to compare providers purely on the interest rate, but that's a dangerous starting point if you don't look beyond these numbers. Believe it or not, but the lowest percentage of interest does not even mean that you have found the cheapest mini loan.

Many people forget that the interest is paid on the total outstanding debt and the higher it is, the more expensive the mini loan is. If a provider does not offer different options for repayments on the loan, this mini loan can suddenly become a lot more expensive than a provider that does offer the option to repay a higher amount. The interest on the debt will then decrease much faster and will remain lower.

What about other costs for a mini loan?

Like other loans, there are costs associated with borrowing money with a mini loan. Borrowing for free is impossible, the provider must be left with something from running the risk and not being able to use the cash. That is why interest is charged, the most well-known cost item of a loan. However, some providers try to make money from the loans in several ways and this can make the loans considerably more expensive. Consider, for example, costs for taking out the loan or a fine amount if a payment is missed.

The costs for taking out the loan are stated in the terms and conditions and are often deducted from the amount. If you borrow 200 US dollars and € 25 is charged for creating the loan, then you will receive € 175 deposited. That does not have to be a problem, but you must know in advance and have included it in the calculation. Despite these costs, the provider can still be the best for you.

Early repayment is also always a good point to inquire about, but this is less relevant with the mini loan. When borrowing a small amount, it is less attractive to repay the loan early or to transfer it. This is generally done with larger loans, a large number of loans or a mortgage that can become cheaper over time.

How much money do you need exactly?

The most difficult part of applying for a loan is determining exactly how much cash is required. Especially when it is a longer-term situation, it is difficult to estimate how much money is needed to fill the gap.

If you are going to renovate or are working on a larger project, a revolving credit may seem more attractive, but there is the danger that there is no need to repay, which means that the level of the interest can be considerable. A mini loan can also be a solution for this situation.

You can order the materials all at once on the mini loan and then get started and earn back the money in the meantime. Renovation goes with the seasons and borrowing can ensure that the floor stays dry.

However, when it comes to paying an overdue account or another payment on a debt that really cannot be missed, then you know exactly how much money is needed from the mini loan. Although it may seem like an annoying option, borrowing money is the best move in such a situation. Waiting for reminders and reminders will only make the costs considerably higher, many times higher than the maximum interest on the loan can be. Please note that the mini loan must also be repaid; By keeping a close eye on the amounts, you can avoid problems in the future.

Are there any more ways to save by borrowing?

Nowadays there are many people who are innovative. Better insulation of a house can save heating costs, replacing a car that is inefficient and that requires a lot of tinkering can save a lot of money, replacing inefficient appliances can also save a lot on electricity costs. There are many options for significantly reducing monthly costs, but money is needed before this can happen.

Anyone who goes to the bank with this story will be told that it is a good plan, but that the bank cannot cooperate. Borrowing money from friends, family or acquaintances is dangerous (by definition it causes problems in the long term and very rarely goes well), but providers of a mini loan will not have any problem with this construction. In fact, they won't even ask you about the reasons for the application. In most cases, filling in a pair is enough to welcome the money into the account a little later.

And by investing the money in the places where it returns, you can earn money for many years to come through the mini loan that you will take out very soon.

This small loan is an ideal loan for people who need a small amount. If you need more money, it is wise to look at another loan. If it needs to be fast and if it is mainly about getting money today, these providers are the ideal party for you.

When you urgently want to borrow a relatively small amount

Sometimes situations can arise where you urgently want to borrow a few hundred US dollars, but your family or friends do not have the financial means to help you. Taking out a loan from a bank is often not an option because this takes too much time, you first have to submit all kinds of evidence and you are subjected to a credit check to see whether you have had any payment problems in the past. In short: a lot of hassle.

Take out a small loan urgently.

If you urgently want to borrow money, a relatively small amount, then taking out a mini loan may be the solution. A mini loan is very accessible and easy to take out. You do not have to make an appointment with a bank or take into account any waiting times to request a mini loan. No checks need to be carried out and there are only a few conditions that you must meet in order to take out a mini loan. A mini loan can therefore be taken out quickly and easily online. Sometimes applying for a mini loan only takes a few minutes.

The application for a mini loan only takes a few minutes of your time and can therefore be considered an excellent addition to arranging your banking affairs online. It can even be compared to making online purchases or booking a holiday online. You can request the relevant mini loan at a time that suits you best. You do not have to make appointments online and there are no waiting times . It is quite possible that after taking out a mini loan you can access the requested money the same day. There are even providers of mini loans that give you the guarantee that the money will already be in your account within 10 minutes.

How high is your mini loan?

You determine the amount that you want to borrow by urgently taking out a mini loan. For the providers of mini loans, it is not relevant to know how much you want to borrow and what the purpose of this loan is. The only thing that matters for a provider is that you can fully repay the borrowed amount after the term of the mini loan has expired. But just as the provider ensures that you receive the requested amount of money urgently in your account, you will be expected to have properly arranged the refund before the expiry of the term. If this is not the case, you will notice that the costs will increase enormously. Moreover, you will have to put in a lot more effort next time to get a mini loan. Providers simply do not like to work with people who do not, or not fully , fulfill their payment agreements as agreed.

Find a mini loan

A mini loan is arranged in no time with the providers. Because there are several providers of mini loans, it is advisable to first compare them with each other and in this way be assured of the best possible loan conditions. When you have found the most favorable mini loan, you only have to indicate exactly how much you want to borrow and fill in the application form. The provider of the mini loan will then send a confirmation and transfer the money to be borrowed as soon as possible.

When can you take out a mini loan

A mini loan can usually be taken out fairly quickly. If you have already received a loan before, this can even be arranged within 10 minutes . However, to take out a mini loan it is necessary that you have a fixed income. A mini loan can also be requested and granted on the basis of your income. In addition to the interest payment, which must be paid for a mini loan, a provider can also charge certain additional costs. Mini-loans can be requested online.

Borrow a small amount quickly

If you want to borrow money quickly with a mini loan, or if you have become curious about the possibilities, you can apply online. The provider of the mini loan will then check whether you have already asked for such a loan before, or whether this is your first time.

If you request a mini loan for the first time, you will of course have to provide some personal information. You will also have to indicate what amount of money you would like to borrow, for example to have a necessary repair carried out. Because you borrow money without a bank with a mini loan, the assessment and allocation process will generally run more smoothly.

A mini loan is not a usual loan

A mini loan can be used in many different ways, in all cases it is no more than a few hundred US dollars. You borrow the money for a short time, usually for 2 to 3 weeks. After the term of the mini loan has expired, you pay back the amount. Because you have not taken out a regular loan, the provider of the mini loan will not conduct an extensive investigation into your creditworthiness. This means that no ordinary loan will be registered in your name and you will not be found in the administration of the provider after repayment. Usually, no CKP check will be carried out before taking out a mini loan. The lack of this check will greatly increase the chance of a mini loan.

A steady income is necessary

If you want to take out a mini loan, you must in any case have a steady income that is sufficient to be able to repay the loan amount. Self-employed persons or students who occasionally receive payments, cannot therefore use a mini loan because their income is too variable.

If you have a permanent job or benefit and receive a fixed monthly amount, then you have a good basis for a mini loan, provided your income is high enough. You then have the option to repay the mini loan as soon as your income comes in. This way you ensure that you have a plan in advance to repay the borrowed money and prevent you from building up any debts that you can no longer pay off. The repayment of a mini loan, just like taking it out, must be done in the short term.

Close online

If you want to take out a mini loan, and therefore want to borrow money quickly without a bank, you can indicate online at one of the providers what amount you would like to borrow. You must of course indicate to the provider what your fixed income is. In addition, you will have to provide proof of this so that the provider has certainty that you can actually pay off the loan amount. When your mini loan has been approved, the provider will deposit the requested money into your account. After the term, however, you will have to ensure that you can immediately repay the borrowed money.

Take out a mini loan? AFM recommends paying close attention

Many consumers take out a mini loan at their own bank or on the internet. However, there are also consumers who do not immediately take out a mini loan , but who look for other options. The Netherlands Authority for the Financial Markets advises consumers to pay particular attention if a mini loan is not taken out by regular means.

Take out a mini loan via an advertising website

The AFM mainly points to the abuses that can occur when taking out a mini loan via an advertising site. Several times a year, the AFM receives notifications about credit providers that charge a fee for taking out a mini-credit. The consumer first pays a fee to receive a mini loan, but then does not receive that loan amount. In addition to the fact that such credit providers offer mini-loans on advertising sites, use is also made of placing advertisements in regional newspapers.

When taking out a mini loan, the AFM always advises to check in case of doubt whether the credit provider does have a license to offer credit. Anyone who wants to offer credit to consumers on a commercial basis must have a license from the AFM. The providers who have a license must meet strict criteria. Incidentally, if a credit provider has a license, there is no guarantee that the party will also comply with the rules.

Borrow smaller amounts.

All too often, borrowing money is automatically equated with borrowing large amounts for the purchase of more expensive purchases such as a house or a new car. Yet we can place the vast majority of today's loans under the heading of borrowing smaller amounts. Just think of purchases such as new kitchen appliances, a new bicycle or an ultra-modern television set.

In this way, a mini loan enables people to immediately make this purchase without having to save for a few more months or even years. Of course, when something sticks out your eyes, you want to get it and enjoy it as soon as possible. And you are certainly no exception. A mini loan is therefore the tailor-made loan form for these people. To get this amount in a quick and carefree way.

Opting for a small amount is opting for a loan based on the principle of collateral. Very simple and very self-evident. You give something of value in collateral and you receive a nice sum of money in return. For this transaction, the bank always relies on recognized and qualified appraisers who can estimate your article perfectly. This way you can be sure that you will receive a fair sum of money for your item as collateral. Products that rapidly decline in value, such as computers or mobile phones, are often not eligible. This is logical, of course, if you know that the collateral must be used to pay off the debts if a default occurs. This is something to keep in mind when heading to the bank to borrow a small amount.

With a small amount, you naturally not only have obligations and responsibilities. After all, a loan also has advantages. The big advantage is that you can borrow a small amount without any problems. Most credit companies and banks do not allow you to borrow a small amount. You are only eligible for a loan from a certain amount. In addition, there are various other conditions that determine whether or not you can borrow an amount of money from these institutions.

You don't have to worry too much about it and you can immediately access the amount. This way you immediately have the money you need to buy your desired item. Borrowing a small amount is the ideal loan form for a quick loan.

What do you have to pay for a mini credit?

It is recommended never to pay for a mini credit . In addition, a credit intermediary may not request compensation from the consumer either, because in that case the intermediary will already receive a fee from the lender in the form of a commission. Incidentally , for consumer mini-loans , from January 1, 2015, the maximum permitted interest is 14 percent.

Borrow 100 US dollars in 10 minutes

Sometimes you are short of cash at the end of the month and you want to borrow a small amount . A mini loan can offer a solution because borrowing 100 US dollars and directly on your account becomes a piece of cake.

Borrowing 100 US dollars via the internet is simple and easy. Borrowing 100 US dollars is also possible with a BKR code, because with small amounts there is often no BKR assessment, this makes it accessible to a relatively wide audience.

Borrow a small amount in 10 minutes

You want to take out a loan quickly and borrow 100 US dollars, this can be done in various ways. For example by taking out a mini loan. A mini loan is a loan of a low amount, for example 100 US dollars, often for a month or less.

Well-known providers are LendNow.nl and Cashper.nl. The advantage of these loans with a mini loan is that it is often in your account within 10 minutes .