Borrowing money and paying off quickly: the best options

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Repaying quickly is an excellent way to keep the costs of a loan low.

After all, you pay interest for the duration that you can dispose of the borrowed money.

If you pay it off earlier, you will pay less on balance.

We explain how you can and may do this, and of course where you need to be.

In this article:

Small amount up to 2000 US dollar

If you want to borrow an amount between $ 100 and thus $ 2000, it is easy, because with a mini loan you always have a relatively short term! Namely 15, 30, 45, 62, 93 or 124 days. Just say 1/2 to 4 months. Which choice you have in this regard depends on the amount of the loan you need.

Although the interest is high in percentage terms at 9.86%, the interest that you actually pay is therefore not high. Close this via Money Now or Savings Hand . The only parties that are allowed to offer this product in NL and they have exactly the same conditions. So it doesn't matter which one you choose. For example;

You borrow 600 US dollars . With a term of 45 days you pay 7 US dollar at loan interest . You pay back the total in one go.

You borrow 1600 US dollars , with a term of 124 days. Then you pay back in 4 equal installments of 31 days and the interest is 23.25 US dollars in total

And a mini loan, which we also call a flash loan, has even more advantages:

  • No BKR review, so you can borrow with a negative BKR registration
  • You don't have to show any documents, papers or payslip at all
  • Only proof of identity, so passport, ID card or driver's license is enough
  • Applications are therefore arranged very quickly in 7 minutes
  • After approval, the money will be in your bank account within 24 hours
  • You do need a guarantor
  • Don't have a personal guarantor? Then Money Now will arrange one for you.
  • This will of course cost a fee.


A mini loan / flash loan is ideally suited to bridge a short period . After all, you have to pay back quickly. For example, it is a solution if your car, washing machine or refrigerator suddenly breaks down and you will not receive a salary again for a month. Or when you will receive holiday pay in a few weeks, but would already like to buy something to celebrate your wedding anniversary or have planned a nice holiday and want to buy a nice camera for that.

So it is important that you can pay back , that's what we mean to say. Because if that doesn't work, you will still have to pay more in interest and possible fines, and you don't want that! Only take out a loan if you know that you will receive enough money to be able to repay before the term is over. Your next salary, bonus, return from the energy company, inheritance, etc.

Revolving credit

If you want to borrow more than a mini loan , you will end up in the more regular loan forms in the Netherlands. As a rule, there are two: the personal loan or a revolving credit . The latter in particular has certain characteristics that make it very easy to borrow something quickly and repay it more quickly.

You simply get access to an amount, but you can know when and how much you withdraw. And if you don't withdraw anything, you don't pay interest either! So this is super flexible . This is compared to the personal loan where everything is fixed: term, interest and monthly repayment. There you will also receive the entire amount in one go into your account at the beginning.

But you can often also pay off personal loans earlier, but pay attention to that in the conditions. Whatever type of loan you choose, a low interest rate is always an important feature! Below you can see a real-time overview of the lowest loan interest rates at the moment. If you click through 'all loan interest' you can compare loans even more specifically for, for example, only 1 type of loan, or specifically for a car or transfer of an existing credit.

Read more about what is a personal loan and what is a revolving credit for more features, advantages and disadvantages of these types of borrowing money.

borrowing money and paying off quickly pays off

Advantage of quick / early repayment?

Paying off earlier means that you pay less in interest. How did that happen? A loan or credit is actually nothing more than borrowing money and paying it back later. The interest is a compensation for the time that the provider or lender does not have access to the money and may therefore miss out on return. So: you pay interest for time. So per unit of time. If you don't need the money for as long, that compensation is logically less high.

In addition, making interim repayments on a loan also means that the monthly amount that you have to pay decreases, if the term does remain the same. This gives you more financial flexibility / space to make your next repayment even faster. Then you will work faster and faster towards fully repaying the loan.

Free advice from an expert

Do you still have doubts about which loan form you want to take out, or whether it suits your purpose? Or find you anyway be nice if someone with business sense as your watching or indeed you have the best deal? You can, and for free!

Credit Group USA , a recognized financial advisor by the AFM, will find out for you, without any costs, which loan is the best and most advantageous, and will send you the quotation without any obligation . You can then respond to this including a closing service. But at the very least you can keep their findings next to your own comparison and see if you had already figured it out properly yourself ...

The advantage of Credit Group USA is not only that they have been the recognized advisor in the Netherlands for years, but also that they are independent of, for example, banks, insurers, leasing companies, etc. They do not have their own preference, but it does have an interest in being you offer the best deal so that you accept it!