Request a mini loan without BKR assessment ?
This is possible with two providers in the Netherlands.
It doesn't matter which one you choose because they have the same conditions.
We will explain what they are.
New: you can now borrow up to 2000 US dollar instead of 1500.
A mini loan is a very special type of credit and a specific case. Normally you can only borrow money in the Netherlands with a personal loan or a revolving credit, but then you can often only go from 2500 US dollars or often even 5000 US dollars. However, you can take out a mini loan for 100 US dollars up to a maximum of 2000 US dollars.
Only two providers are allowed by the AFM to offer this product, namely Money Now and Saldodipje . They do this with exactly the same properties, so it does not matter to which party you ultimately submit your application. What exactly are those conditions:
The only document you need to submit is your ID, such as a passport or ID card. A driving license does not apply. You also need a personal guarantor, but you can submit this information later if you already have the loan in your account.
It was already, no other paperwork, no proof of income or questions about your contract, for example. This makes it so quickly arranged that you can have it done in 5 minutes. And after that, the money is sometimes in your account within 24 hours after approval.
That personal guarantor can be anyone, your uncle, aunt, acquaintance, brother or sister. But maybe you don't have anyone you can ask about this, or you make a conscious choice not to ask people close to you because you don't like it. In that case you can also have a guarantor arrange for you and you can still get the loan.
The interest of the mini loans is not the same for every amount, but is somewhere in the 7-10% range. That is a high percentage, yes, but because these types of loans always have a short term of one to 4 months, do not pay as much interest in an absolute sense . See the calculation examples below. With the loan amounts up to 300 US dollar you can even opt for a term of 15 days.
Can you request this mini loan without BKR testing? Yes, because this is not even done with any request! This is mainly because the amount you borrow is relatively low, after all, a maximum of fifteen hundred US dollars. This does not make the lenders so nervous.
That is also the reason that you should have a guarantor, because he or she will guarantee you when you cannot pay back on time. This is another reason that the application process and approval of your application can go so quickly .
For example, it is possible to take out a mini loan while you do have a negative registration at the Credit Registration Office in Tiel. But even though that sounds like a nice hack, we recommend that you think carefully whether you really need this loan? See the chapter “attention” further on.
Time to list some examples so that you can get back to where you stand regarding the loan interest and the terms. Below you can see in a table for different amounts that you borrow what the term will be and what interest you have to pay. Pay attention! With a term of 62 days or more, you pay back in equal installments of 31 days each:
|$ 100||15 days||$ 0.25|
|$ 300||15 days||$ 2.30|
|$ 500||30 days||$ 2.47|
|$ 800||45 days||$ 9.30|
|$ 1,000||45 days||$ 11.50|
|$ 1,200||62 days||$ 10.54|
|$ 1,500||93 days||$ 17.36|
|$ 2,000||124 days||$ 29.14|
Of course we have to say that borrowing money also costs money . After all, you pay interest. So it costs you money. But there is more to take into account with a mini loan.
Namely in particular the short durations. As mentioned, they ensure that you pay less interest in absolute terms than with a loan with a lower interest rate but a term of a few years, which is an advantage.
But then you really have to be aware that after 15 days - 4 months you really have to pay back, including the interest. If this fails, you will only be charged extra fines.
So see a mini loan mainly as a bridging to a moment where you are already sure that you will receive a large sum of money. For example, if you receive a bonus, your holiday pay and a refund from the tax authorities or your energy supplier in a few weeks.
It will enable you to buy a cool new camera for your next week's vacation, for example, or a new snowboard for when you leave for the snow this weekend. Or maybe you just need to fix your car now because otherwise you won't be able to go to work. It can therefore be a good solution in such emergencies.
Then you really end up with that personal loan or revolving credit, the two regular types of loans without collateral in the Netherlands, each with its own characteristics, conditions, advantages and disadvantages. You can only decide for yourself which one best suits your loan purpose or preferences.
Below you can see live with which providers you can currently take out these types of loans for the lowest interest. Via “all loan rates” you can make even more comparisons for, for example, only one loan form, or for goals such as borrowing money for a car.
Please note that in these cases you have to pass a BKR test. Although you can still go to some providers with some reports. But often not at regular banks such as Across Lender, ABN and Infra Bank.
Credit Group USA can help you with this. In the case of a correction notification or a BKR registration of a few years old , they know exactly which providers are less troublesome. And requesting a quote via Credit Group USA is free and without obligation, while as an expert they will find the best loan for you, so be sure to engage them.