Borrowing money is not easy, there are always checks and questions.
Not surprising, because a lender does entrust you with a considerable amount of money.
But what if you are really in a hurry ?
Or do you not expect to pass a check because you have a registration with the BKR?
Even then there are still possibilities that we will explain to you.
There is one type of loan in NL that you can request without BKR assessment, difficult questions or salary slip : the mini loan or the flash loan . There are only two providers of this with an AFM license: Money Now Bank and Saldodipje.nl
There are several reasons why they do not perform this check. Firstly, this is due to the relatively modest amount that you can borrow, namely a maximum of 2,000 US dollars. This means that the risk for these parties is smaller than with a considerably larger amount. Moreover, they do work with a personal guarantor that you must appoint.
In addition, the conditions are a lot more straightforward. You also borrow for a somewhat shorter period of 15 days to 124 days, or a maximum of 4 months. This depends on the amount of the credit. But a short term certainly is, whereby the risk is therefore also lower that you will lose your job, for example, than if you have to pay off a loan over several years.
So see this way of borrowing mainly as a bridge . For example, if you already want to buy a new camera or backpack for your holiday, but you are already sure that you can pay it off in a few weeks or months with your upcoming salary, holiday pay, bonus or other windfall.
Also makes it super suitable for an emergency , because applications only take 5 minutes and the money is in your bank account within 24 hours. So you can also help if you suddenly have to replace your refrigerator, washing machine or car because it has broken down.
The short term also has a kind of advantage with it, because you also pay a shorter period of interest on the amount you have borrowed. At the moment, that interest is high in percentage terms, but in an absolute sense it is not. We give you some example for illustration:
Suppose you borrow 400 US dollars. Then you have a term of 30 days and you then pay back the amount, plus an interest of $ 1.97
If you need more, such as 1200 US dollars, you pay this back in two installments of 31 days each. The total interest that you have to pay is $ 10.54.You can also choose 3 installments and a term of 93 days, but then the interest is $ 13.93
As a last example, the maximum amount of 1500 US dollars. Here the minimum choice is 3 installments of 31 days each and an interest owed of $ 17.36 in total, but you also have the option of 4 installments and therefore a term of 124 days and the interest comes to $ 21.70
In Money Now or Savings Hand you can besides the loan with its own guarantee, service as a guarantor lets arrange them. In principle you have to bring one up yourself, they call it a personal guarantor, but if you have no friends or family to whom you can or want to ask this is still a way out.
With other types of loans may be an option right to the amount borrowed you need. You often see this happening, especially with mortgage applications, so that children can still buy a house with the help of their parents. We will not consider the mortgage later in this article.
What if a mini-loan is not enough to borrow what you need? Then there are still two forms of credit that are used in the Netherlands, with differing properties, advantages and disadvantages. These are the personal loan and the revolving credit .
Here you cannot escape a (BKR) check because it concerns amounts from 2,500 to 75,000 US dollars or more. (And many providers and brokers only do business from 5000 US dollars.) But even then, don't give up!
One bank or institution may have slightly different rules about what they will or will not accept in an application. For example, they view people with a certain benefit differently or they calculate differently with different incomes and components in it.
So try it especially by requesting multiple quotes. Of course, always look at the lowest interest, because then it will also cost you less money. Below you can see live the best loan interest deals of the moment. This overview is real-time. You can immediately click through to the providers for more information and online application.
Via “all loan rates” you can even more specifically compare on certain types of loan or even goals for which you need the money, such as borrowing money for a car or renovation. Then you may be able to find an even more suitable loan.
In the introduction to this article, we briefly noted that it is perfectly logical for lenders to check who exactly they are going to lend their money to. Of course they want to be able to assume to a certain extent that they will ever get the amount plus interest back, preferably also on time.
But remember, this is not just for their own good. They also have to do this from the Netherlands Authority for the Financial Markets (AFM), which supervises the Dutch financial sector and companies in it. The strict regulations they apply are themselves primarily intended to protect consumers.
In the first place against usurious interest and other malicious practices by fraudsters, but also to protect individuals from themselves . For many people it is attractive to borrow money so that you can do things now, but they forget that paying back must be done.
Hence, for example, the mandatory warning everywhere: "pay attention to borrowing money costs money". Buying something with a loan also costs you extra interest and is therefore simply more expensive than saving for it, for example.
That is why all loans, even those of a mobile phone subscription nowadays, are kept by the Credit Registration Office (BKR) in Tiel. For example, people who cannot properly assess it cannot just take on too much hay and therefore run into serious financial problems . Very good!