Monthly Archives: April 2019

Borrow without regret – Apply for Mini Credit

 

When can you borrow without regret and will you not regret a loan taken out? If you pay too high interest. You think that makes sense. After all, you have carefully compared the interest rates. But unfortunately it is not that simple. Because sly lenders usually have some tricks to mislead you as a borrower and knock out extra money from the pocket. What’s up with that?

The insurance trick

Many large lenders only want to lend you money on the condition that you simultaneously take out a ‘purchase price insurance’ with them. This type of insurance ensures that you can meet your payment obligations at all times. Even if, for example, you are left without work. You will think that is a reassuring thought. In itself there is nothing wrong with such insurance. But there is one big adder under the grass: in most cases the insurance is way too expensive…

Many large donors are out to attract as many people as possible with low interest rates. In other words: the large letters. They later make up for the profit that they miss out on with the compulsory insurance. Indeed: the fine print.

In fact, many lenders are actually insurance sellers, you could say. The ‘benefits’ are clear: many people look no further than the interest rate. And when they hear about compulsory insurance, they are already thinking of the new car, or the beautiful new kitchen…

The ‘now-you-here-still-trick’

 

In addition to the insurance trick, many lenders have another way to earn some extra: selling additional financial services. You could say the ‘accessories’. How does that work?

Suppose you are applying for a loan from a lender that you had seen in the newspaper (let’s hope it is not one of the companies that uses the ‘insurance trick’). This insurance trick company checks whether you are well known at the Credit Registration Office (BKR). If that is the case, you are usually called for an appointment. The “adviser” can then explain everything properly. You go to his office or the “adviser” comes to your home. Everything is neatly arranged: the loan, the insurance, and – now that you are here – a share lease or savings policy. The “consultant”, who naturally works on a commission basis, is out to get you to sign as many signatures as possible as quickly as possible.

How do you borrow without regret?

  1. Don’t be fooled by cheap interest rates. First check whether you are required to take out insurance in addition to the loan. If this is the case, then you will be overpriced in most cases. So don’t.
  2. Is insurance not mandatory, but do you think it is necessary? Then be well advised on the types of insurance and decide which suits you best.
  3. If you take out insurance, make sure you have a favorable rate. In our site you will find the lowest rates that we have found.
  4. Don’t talk to “accessories” that you actually don’t have the money for, or whose financial risks you cannot properly estimate. For example, read our information about share lease.
  5. To get a good idea of ​​the additional costs, we refer you to insurance comparisons, so you know whether you want to take out insurance. For the interest we refer to compare interest. We also invite you to find a cheaper percentage without purchasing premium insurance, we are convinced that this is not possible.

Now that you know these tricks, you have taken the first step towards borrowing without regret.

Borrowing 1500 euros without credit verification

In my search for a small loan without BKR review, I still keep coming across something that I think: ‘Hey, I can do something with that. Now I came across the next loan where you can set a fairly high maximum. Suppose you need € 1500, but you don’t feel like taking out a huge credit for that. You just want to quickly get some extra money for whatever reason. Well, for such an amount you are not really welcome at the ‘normal’ lenders. This way you can see that with a personal loan and a revolving credit, a minimum of € 2,500 applies. Now that minimum application amount is not the worst of course, but it is that with the two credits above a credit check is always done at the BKR. We are just not waiting for that, because I am looking for a credit where this test does not take place.

Borrow 1500 euros without BKR review

Borrow 1500 euros without BKR review

Well okay enough. How can you apply for that € 1500 and what are the total costs. That is the question that concerns me and to which I will try to find an answer. Now it is not so difficult to figure out what the total costs are, especially with a small loan or mini loan. So not only the interest afterwards, but also any guarantee that you have to buy, or in some cases have to organize through a family member or acquaintance. Look, the interest that you have to pay is clearly laid out on the website of the relevant farmer. It is almost always just below the maximum of 14% and also in this case with an interest of 13.99%. Why they sit 0.01% below the legal maximum is a mystery to me, but that must be an idea of ​​a pair of purple trousers to make it seem a little cheaper.

What about the costs?

What about the costs?

Regarding the total cost for a mini loan, I have written extensively many times. But that doesn’t matter, because nothing is as pleasant as the consumer (you) understands what it will cost in total. Nice and nice to offer a mini loan of € 1500, but also look at the total picture. After reading this, you can decide for yourself whether or not to request it. It is all about a lot of money.

The example that makes all other examples unnecessary

The example that makes all other examples unnecessary

Ok, so you go for a mini loan without BKR for the highest amount of € 1500. You don’t have to request this, because you can also choose a lower amount, for example € 500.

✓ Amount: € 1500
✓ Duration: 62 days
✓ Interest: 13.99%
✓ Interest to be paid: € 25.11
✓ Guarantee of family member, acquaintance, etc .: No costs
✓ Guarantee from company: € 574.10

Below you see in the image the costs that are charged for an external guarantor for all amounts that are provided as a mini loan.

Fast and inexpensive

For fun, you should look on Google for a mini loan. People often call out cheaply and quickly. Partly true, because it is certainly fast. After approval of your application you have money in your account within 24 hours. Tuut tuut, that’s certainly fast. However, the other slogan that is used ‘cheap’ should not be possible. Look at the image above and you will see that it is not cheap at all. But yes, the company also has to earn something and of course you cannot apply for it. Therefore, only use this solution if you cannot help it and you really need some money quickly. But please don’t use it for nonsense things, or for shopping or something. Purchasing a mobile phone with this money is also a real asset. But, at least you know what you are starting.

Interest on the mini loan

For the sake of clarity, there is also an image with the interest that is charged for the various amounts and durations. The interest rate is fixed at 13.99%, but you can then see exactly how much interest you have to pay in money for the amount you want. The percentage is high, yet in monetary terms it is not very high amounts. For example, a mini loan of € 400 with a term of 30 days costs you € 4.32 in interest. That is still quite manageable.

How can I apply?

How can I apply?

Look, too, that I arranged for you. Have you weighed up pros and cons and are you aware of all costs? Then you can decide to apply for a mini loan. Below I have indicated in a table which providers are currently active in the Netherlands. This changes sometimes, so the table may also change from time to time. In any case there are 2 providers that no longer participate. Firstly, Cashper no longer offers a mini-loan in the Netherlands for unclear reasons, and secondly, Loandome. The fact that Loandome was a dark company right from the start, the AFM apparently thought so too, and has turned the provider up and down on the Cayman Islands with a sky-high penalty.

A mini loan is borrowing money without hassle

A mini loan is borrowing money without hassle

You can say a lot about a mini loan, but you can borrow money without hassle. You complete the online application in less than 5 minutes. You send your ID and some other information online and you can start waiting for approval. You can also go there on Saturdays. Only on Saturdays it is not possible to pay within 24 hours, because the banks do not process payments during the weekend. But then you have it on Monday.

Test payment

Test payment

After a yes application has been approved, you must make a test payment of 1 cent. Very easy, via iDeal you can transfer this cent in real time. The company does this because it wants to be sure that you have entered your correct bank account. If this is wrong, the money will end up with someone else, while you are responsible for the repayment. With this test payment, this chance of making mistakes is excluded.

Conditions for approval

Conditions for approval

Just like when applying for other credits, you must meet the minimum conditions that are set. They are not difficult requirements and almost everyone is eligible for this credit. A BKR test is not performed, so you don’t have to worry about that. The requirements are:
✓ You are between 21 and 69 years old
✓ You have a monthly income
✓ Your income is not a benefit
✓ Unfortunately no freelancer
✓ You are registered in the Netherlands
✓ You have a Dutch identity card
As you can see, the requirements are not very strict. You must also have an e-mail address and a mobile phone with a Dutch number.