When you search for mini-loan providers in the Netherlands, two names always come up: Saldodipje and LendNow. Which of these two lenders is the best choice for a mini-loan? Balance dip is an independent company but at the same time it is part of LendNow UK. The English branch in turn belongs to the LendNow Group. This company is listed on the stock exchange and the market leader in Europe, providing mini-loans in 23 countries. Their ambition is to become the largest mobile bank in the world. LendNow Group complies with the legal rules of European law and is therefore legally allowed to offer online mini-loans in the Netherlands.
Interest on a mini loan
The interest that you pay on a mini loan from LendNow is around 14%. The amount of this interest is no more than the interest that you pay for an order from Wehkamp. What usually makes a mini loan more expensive is the guarantee.
As you may know, people with a negative BKR listing may also apply for a mini loan . Due to the increased risk of non-payment, the lender does require a guarantee. This means that someone personally guarantees you that you will pay back the money. This person must have a valid Dutch identity document. If you have someone in your private environment who wants to do this, you have a fairly cheap mini loan. You only pay the interest. About USD 13 interest is charged on a small loan of 800 US dollars with a term of one month. Do you not know a person who wants to guarantee you? Then you have to rely on an external guarantor. You then have to buy the guarantee and this makes the mini-credit a lot more expensive. It is up to you whether you want to take out a short loan quickly at substantial additional costs. If approved, the money can be in your bank account within 24 hours.
Terms of acceptance
The acceptance conditions for a mini loan are lower than for a revolving credit with the Across Lender, RABO bank or ABN AMRO. However, this does not mean that everyone can borrow money. Some basic conditions for a mini-credit are: a fixed income of at least 1000 US dollar net and an age of 21 - 69 years. People who work for a temporary employment agency, self-employed persons without staff and benefit recipients are not eligible for a short loan. Do you have a temporary shortage and are you able to repay the full credit within 1 month? Then a mini loan can be the solution for you.