Apply for a Mini Loan – A Mini Loan Immediately
Do you want to request a mini loan, a small loan of 100, 200, 400, 800 or 1000 euros? A simple form is enough to get this to your account quickly and within 24 hours. But pay attention to which mini-loan provider you directly request a mini-loan or mini-credit. The costs can be quite substantial. Fortunately there are also alternatives.
- Tip: nowadays you can also get a loan of 1500 euros through the Spanish bank Bankate, without extra high costs. If you opt for a revolving credit with Bankate of 1500 euros, you do not have to take everything out of your loan immediately.
- You can request a mini-loan directly from Merratu or Dapodle, but there are high costs involved. These are in 2019 the only mini-loan providers in the Netherlands.
- These costs for a mandatory guarantor are not immediately visible from the websites of the mini-loan providers, but are between 25% and 30% of the loan. If you have your own guarantor, you only pay the low interest costs.
- The risk of a mini loan is therefore high. The mini loan is therefore often discouraged for people with debts or low incomes.
- People with debts, a low income or a negative BKR registration in particular have to think carefully about whether they want a mini loan.
- There are also alternatives to the mini-loan that are cheaper. In this way you can also directly request a loan of 1500 euros through the Spanish bank Bankate.
Merratu Mini Loan
The best known provider of mini loans is Merratu. The provider offers a loan quickly (within 1 day) and easily without paperwork. You often only have to fill in a form, send a photo of your identity card. You will almost immediately receive a proposal by e-mail to borrow a maximum of 400 euros. After your approval, the money will be deposited immediately. During weekdays you have the money in your account almost immediately.
Pay close attention : the loans from Merratu are expensive and that is not clear. You have to choose a mandatory guarantor and they ask 20 to 35 percent costs, depending on how long you want the loan. For example, a loan of 300 euros for 30 days quickly costs you 85 euros. In addition, the following also applies:
- You must repay the loan within the agreed period (15, 30 or 45 days) including the very high costs for the guarantee.
- If you have previously had a loan with Merratu, you can borrow up to 800 euros and you can arrange this yourself online.
- Merratu also offers mini loans under the name Dapodle.nl, but the costs and conditions are exactly the same.
- The mini-loan provider does not review the bkr and does not require any conditions or submitted documents.
- But you can find information about Merratu here and you can directly request your loan here
Balance dip Mini loan
Requesting a mini loan from Dapodle is simple and fast. Balance dip works the same as the Merratu mini loan and is actually from the same owner. You choose a guarantor here when applying. This costs extra money, around 20 to 30%. So if you apply for a loan of 200 euros, you pay 40 to 60 euros in extra costs. Be aware of this when you make the application.
If you have already applied for a mini loan from Merratu, then you will not be able to get a loan from Dapodle. Only when you have repaid the mini loan is this possible again. It is therefore not possible to take out multiple mini loans at the same time with Dapodle and Merratu.
Viloan Mini Loan
Note: Viloan stopped offering mini-loans at the end of April 2016. Viloan was a new provider of mini loans in the Netherlands. With Viloan you pay extra for a mini loan if you want to receive the money within a day, do not want to fill in forms and if you want the application to be processed immediately.
- A mini loan with Viloan costs little (you only pay interest) as long as you can wait a week. You then pay no extra service costs.
- In the other cases you will lose more money for a loan. Viloan charges 20 or 25 percent in extra service costs if you want to receive the money within 1 or 4 days.
- If you want more information about Viloan, check out this webpage
Credime Mini Loan
Until recently you could also contact Credime for a mini loan. The Credime website is no longer in Dutch and it is unknown whether you can still apply for a loan. Credime is a company that finances small loans with private money and is not a bank. Credime places higher restrictions on a mini loan.
A negative BKR was no problem, but if you have a benefit, you could not apply for a mini-loan here. A minimum income of 1200 euros is also required for a loan. Experience also showed that Credime is very strict with the loans: you do not stand a chance if you do not meet the conditions.
The costs at Credime amount to a 20% reimbursement on the loan amount. That is 40 euros with a loan of 200 euros; Costs 80 euros with a loan of 400 euros. But beware: not only are the costs high, the interest also continues if you are late in paying back. If you are late, you can easily get into big problems due to excessive bills.
Alternative to the Mini Loan
Do you also think the mini-loan is too expensive? No problem, there are quite a few alternatives to the mini loan. You can also take out a loan with a higher credit limit, for example a revolving or flexible credit. With such a loan you can withdraw money up to your chosen credit limit. If you only need a small amount, then you do not have to withdraw more than that – even if you have a revolving credit of, for example, 5,000 euros.
- Through these providers you can have paid your loan within 3 to 5 days. You can go there immediately for a loan from 2,500 euros.
- If you opt for a revolving credit, you do not have to withdraw all of this money. In many cases, you will be cheaper than a mini loan. Even if you only want to borrow 500 euros or 1000 euros.
- View the options for example via Dutch Credit Group. There you can borrow from € 2,500 and you will receive an answer to your application within 20 minutes.
- And here too: if you opt for a revolving credit, you do not have to take everything out. Withdrawing a small amount from your credit is just as possible as possible. You only pay interest on the outstanding amount.
- You can also borrow cash quickly through so-called pawnshops. You will then receive money for collateral.
- In addition, there are more other alternatives to the mini-loan. For example if you want to borrow money to buy things, such as buying things and paying afterwards without interest
- You can also borrow from private providers via Loandres where you can borrow money from a personal loan starting from 1500 euros. Moreover, you can also borrow briefly at Loandres, for example 6 months.
- There are also special options for people with debts through the Credit Banks of the city. You may be eligible for a social loan, for example to repay existing debts.
Milionscred and other providers
Milionscred was one of the first mini-loan providers in the Netherlands. You could request a mini-loan from this company until the beginning of 2014. The company had many complaints, but eventually ceased its activities following a lawsuit. It no longer saw any bread in the mini loans.
Under Dutch law, it is not permitted (on an annual basis) to calculate more than 14% in costs for a loan, including interest. That makes the mini-loan for the lenders not profitable. The costs of the mini-loan from Merratu and Viloan are on a yearly basis much higher than that. Otherwise the companies would not make a profit.
That is why many other providers of the mini-loan, stopped providing credit between 2011 and 2014. In addition, many providers, including Merratu and Viloan, have received high fines from the AFM or have been banned.
At present, mini-loan providers are deliberately avoiding the law by officially operating from abroad or using other constructions. As AFM states : “Institutions prove creative in coming up with new forms of credit and cost reimbursements.”