Discover the best offers of personal mini-loans that are currently sold in the national market and find the financing you need with the best conditions. With mini personal loans, you can get up to 1,000 euros in less than 15 minutes.
Personal loans for bad credit: borrow online from $100 to $1000
Before resorting to these financial products it is convenient to know what are all their characteristics to request them in a responsible manner. These loans are granted by private equity entities and allow us to obtain up to 500 euros if we are new clients or up to 1,000 euros if we are already clients. Its maximum term does not usually exceed 30 days and has an average cost of 1.1% per day. In addition, they must be reimbursed in a single payment consisting of interest accrued plus the total amount of money requested. Thus, if we request 150 euros to 1.1% daily to be repaid in 30 days, we would have to pay a total of 149.5 euros after one month.
The mini personal loans are designed to obtain extra liquidity at specific times in order to deal with unforeseen events such as paying a fine, replacing a household appliance or as reinforcement for dates where the cost increases as Christmas. In any case, it is advisable to request these products for whims, recurrently or without the certainty that we can reimburse them within the agreed period.
As we can see, online personal loans for bad credit are rapid loans and have features that make them interesting for times when we need money quickly and instantly. Of course, we must take into account that each private lender will establish the conditions of their quick mini credits, so the maximum amount that we can get, its price and the repayment period will vary slightly among lenders.
What is the guarantee of a mini credit?
As indicated by its own name, personal mini-loans have a personal guarantee, which means that the holder responds to the payment of the debt with all his present and future assets. In addition, by having such a low amount, companies do not need additional guarantees, so they will never demand that we endorse a guarantor.
Of course, as we are the only responsible for paying the fees, in case of delay we will also be the only ones to suffer the penalties for non-payment, which will go from the application of interest and additional fees to the registration of our data in files of defaulters.
In the worst case, if we do not reimburse our mini loan, the company could see us through the courts and could end up sentencing the seizure of our personal assets, such as the balance of our accounts or a percentage of our income.
Main purposes of mini personal loans
Due to their characteristics (low amount, short-term, almost immediate concession …), these financial products are specially designed to face specific contingencies that require a very fast economic response. For example, we can come well to pay a fine and benefit from the discount of the prompt payment or to pay the cost of an invoice and thus avoid having an overdraft in our checking account.
The mini personal loans can also be used circumstantially in months of high spending, such as the “back to school” of September, Christmas or summer holidays. Of course, to request this type of credit is essential that we have the regular income that allows us to correctly return the total cost of the loan requested in the time previously agreed with the lender.
Also, we must not forget that a personal mini loan can come in handy as financial support in a timely manner, but we should never use it as a recurring source of funding. If we request these products too often, we can run the risk of over-indebtednenterinto a debt spiral, which would be very damaging to our economy and from which it would be very difficult for us to get out.
How to hire a personal mini loan instantly?
Mini personal loans are advertised as a practically immediate service that allows us to get the money we need very quickly. However, in certain cases, we will have to wait up to 48 hours to receive the transfer of the mini-loan.
This is because the transfers between different bank accounts are not instantaneous and since the mini-loans do not have accounts in all the banks in the country, if we choose an entity that does not work with our bank, the money will take longer to arrive.
Is it safe to apply for personal mini-loans online?
Yes, Mini personal loans are very safe to apply for. However, due to the proliferation of these loans, financial bars that seek to deceive people seeking financing have also increased. It is also very easy to distinguish the mini legitimate personal loans taking into account some parameters.
On the one hand, legitimate mini-credit entities will never ask us to send money in advance. The mini-loans do not have commissions and in the case that they had, they would be paid along with the first installment of reimbursement. So, if you ask us to send money in advance, whatever the concept (administration costs, management costs …), we must pause the request directly and not send, under any circumstances, money or any personal or economic data.
Another of the hooks used by these fraudulent entities is that they offer to take us from files of defaulters such as ASNEF in exchange for management costs or costs of lawyers. Normally they offer us financing, but they indicate that by being in these files they can not grant us the credit, but that they can negotiate with their lawyers how to eliminate us. However, no financing entity can offer us another service in addition to the financing products themselves.
Finally, legitimate entities have web pages, they will not contact us through social networks or emails. These web pages, in addition, are sites with security measures that ensure that the personal and economic data we detail will be safe. To see that a page is safe, we must look for the URL to have a green padlock at the beginning and that the web address starts with “https”. The S means that the online data transfer security protocols are activated.