If you are looking for quick money and you need small amounts, mini loans are the best option to solve small problems of economic liquidity caused by small defaults, unforeseen end-of-month or unexpected bills.
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Mini personal loans are a fantastic solution to solve problems with unforeseen expenses or when you do not get to the end of the month. Hence, its spectacular growth in recent years, as a financial solution for individuals, students and the unemployed. Because if you need money quickly and with small amounts, for example 200 euros, the mini loans allow you to get the money now and easily without paperwork or long waits.
So in a few minutes you can have the money already in your account to deal with those unforeseen payments or simply to make ends meet. But before applying for a mini personal loan you have to keep in mind that although the credit is small, usually around 600 euros, the return period is also. Because you will have to repay the mini loan in a maximum of 30 days. That is why it is important that you bear in mind that they are a timely financial solution that allows you to have your money in less than 24 hours when you apply for a credit online. And that even without payroll and with FCIA.
In the market there are many offers with different advantages, such as entities that offer mini loans with the first free. But among all the supply of companies. You should always look for the best mini personal loans according to your needs. It is not the same to request mini urgent credits that without payroll or without endorsement, especially when the amounts exceed 600 euros. That is why it is essential that you take into account the following recommendations:
In what cases is it recommended and in which cases do you not request mini loans?
It is recommended to request mini loans when you need money in a timely manner, for an unforeseen expense such as an urgent repair, a traffic ticket, or a trip. Remember that the term to return the credit is small, so you have to be very sure that in 30 days or less you will be able to return the borrowed money.
It is not recommended to apply for mini loans when your money needs are recurring because you spend more than what you pay. Neither do you have to apply for mini personal loans when you are sure that you will not be able to return the money within the agreed period, since in that case, in addition to paying more money in interest, since the APR or annual interest rate is very high, You can end up in a list of debtors like FCIA or RAI. Which will make it very difficult for you to get more financing.
Advantages of requesting a mini loan
Given that there is a wide range and variety of mini loans in the market, the advantages of applying to one or another credit institution are very varied. Although most entities offer the following benefits when applying for a mini loan:
- You can get fast money from 50 euros to 1500 euros, although the most usual amount is around 300 euros.
- Private entities offer more concession facilities than banks, although there are also mini personal loans at Banco Santander, Bankia, or BBVA.
- You can get extra money in less than 24 hours
- They will not ask you for any kind of justification of the loan destination
- You can have the money very fast by making everything online
- In the mini loans the procedures are simpler and without paperwork unlike other types.
- The expenses and interests of the mini loans are affordable by anyone
- Most credit institutions will not ask you for a guarantee or mortgage guarantee
- It is not necessary to have a payroll to request a loan
- Some entities grant mini loans to people who appear in FCIA or another register of defaulters.
- Offers between credit institutions are common, which allows you to get money urgently, easily and cheaply.
Disadvantages of requesting a mini loan
Although this type of quick credit has more advantages than disadvantages, it is important that even if you think that “I need immediate money”, consider the following aspects before requesting a mini loan:
- When you reject our application, you should know that they will not explain the reasons.
- When they are not paid, the costs of delay are quite high.
- You should not resort to mini loans when you have permanent liquidity problems, because in that case you will pay more interest so you can accumulate large debts in addition to appearing in delinquent listings as the FCIA file.
How to apply for a mini credit online?
One of the great advantages of these quick personal loans is that they are online, that is, via the Internet, which makes them one of the easiest and most paperless solutions available. To request a mini personal loan, follow the following steps:
1. Choose the minipréstamo that suits you best
Given the huge offer that exists, we recommend you to look for personal loans with an online comparator like the one we have in Crédito SMS. This way you can save time and money by analyzing hundreds of offers of mini personal loans. Through our comparator you can use filters for a search more adjusted to your needs. For example if you are in FCIA you can search only the companies that grant mini loans with FCIA. So you will not waste time in requesting financing from companies that do not specialize in mini loans with RAI and FCIA. And you will have more chances that your application will be accepted.
2. Select the amount of money and the return terms
When requesting a personal loan online there is usually a credit simulator available so you can check the total cost before hiring it. For this you have to indicate the amount you need and the repayment term. In any case remember that it is not a long-term financing, and that the sooner you repay the loan amount, the lower the interest and therefore the total cost of your mini loan. That is why it is important to ask for financing in companies that allow the early cancellation of the borrowed money.
3. Fill out the online form
Requesting an online loan means doing it without paperwork, but in return you will have to complete your personal information in an online form. Through the Internet, those data sent under security protocols will be used by the lender to make a financial study about your credit application. The data they usually request is basic, such as if you are in FCIA or have a fixed income. In some cases you will have to justify this data by sending scanned documents such as:
- DNI or NIE readable on both sides.
- Bank statement updated to check your monthly income (without payroll, pension, or rental income, it is more difficult to get a credit).
- The 20 digits and the IBAN of the account where you want to receive the money income.
4. Wait for an answer to your request
The credit institution will verify your data online and as quickly as possible, even in less than 5 minutes, will give you an answer through your email accepting or not your request. Keep in mind that to grant the credit the entity will check requirements such as:
- Be of age.
- Have regular and demonstrable monthly income.
- Do not have debts of more than 1000 euros in FCIA or in other lists of defaulters. Remember that for companies that offer mini loans with FCIA it is essential that you do not have debts with banks.
5. Confirm your credit request
When the mini loan has been approved, you will have to confirm that you accept the terms of the contract. For this, credit institutions usually request acceptance by e-mail or SMS. In any case it is convenient that before any doubt after reading the contract, and before signing anything, do not hesitate to call the customer service number.
6. Get the money in your account immediately
Once the credit agreement is signed, the lender will make a transfer with the amount of money requested to the bank account that you indicated during the application process.
After that, you will receive an e-mail with the service invoice and a summary of the loan contract. It is important to read all the information to know the conditions of the entity and especially the total price of the mini credit, including the fees for the service and the return period, normally indicated in days.
How long will it take to receive my money?
Most of the cases the great advantage that mini personal loans have is that they allow you to get money instantly. But for this it is important that your account number corresponds to one of the banks and financial entities with which the lender works. Because otherwise the transfer will not be at the moment, and you will have to wait for your transfer to arrive between 48 and 36 hours. Depending on when the credit application is accepted, if it is later than 6:30 p.m., the transfer is made the next day, or if you have applied for the mini credit on weekends or holidays. But in addition to banking operations you have to take into account that not all companies that grant mini loans that offer a 24-hour credit service 7 days a week. So if you need money instantly urgently, you should ask for a credit from Monday to Friday and if possible before 18:00 for your mini loan to arrive as quickly as possible and even have the money instantly.
Can you ask for mini-loans without a payroll?
Fortunately in the current financial market there are many lenders that allow you to apply for mini loans instantly without payroll so that, if you have some kind of fixed income, you can get extra money now and so cover any mishap immediately. It is important to remember that any credit application must demonstrate a source of income proportional to the money you ask for. Because without stable income it is more difficult for an entity to grant you a loan. Your source of income can be very varied, as long as you can prove it. For example: the rent of a rent, a scholarship, a pension for retirement or food, an unemployment benefit or a job even part-time. The case is that you can justify that you earn enough money in order to make the request. In any case and if you do not have income derived from an employment contract, you have to know that with the instant loans without payroll, you can get the amount of money you need in less than 24 hours. And all this in a totally online, through a web page where you can make the request easily and conveniently from your home. In less than 10 minutes you will be able to know if your credit application has been accepted, and so you can have the urgent money you need.
How do you get the mini loans with FCIA?
Within all the credit institutions there are some that are specialized in difficult situations, and for that reason they grant mini loans with FCIA. You have to keep in mind that being on a list like FCIA does not mean being a defaulter. Many people are in FCIA for debts derived from supplies such as electricity, telephone, internet ADSL, etc. And it is not because of lack of payment of the debt, but because they were not satisfied with the receipt. Many companies use the records in FCIA as a way to force their clients to pay debts that are in claim. And in some cases the lack of payment was due to an overdraft, that is to say, lack of balance by red numbers, in the bank account. That is why some lenders do offer mini-loans with FCIA, although they establish some important requirements that must be met:
- That your debt does not exceed 1000 euros.
- That you have always paid your previous credits.
- That your debt does not have it with another financial entity.
- That you can justify and have a source of regular income, in case you request a loan without endorsement.
What happens if I do not pay the mini credit?
In the event that you can not afford the payment of the credit you have requested, as soon as the lender receives the non-payment, it initiates a process that increases the debt daily while the personal credit is not reimbursed. This process has the following phases:
- First unpaid installment: at the moment, commissions begin to be applied and a higher interest due to delay. For example, in many cases the commission for claiming unpaid installments is usually 30 euros, which is added to the existing debt.
- Second unpaid installment: if the second month you still do not pay the debt, the credit institution sends your data to lists of defaulters as FCIA, RAI and other records of unpaid. Although as established by law, you must be notified before they register your name in the file. This way you will be able to know who has put you in FCIA and for what debt he has done it.
- Third unpaid installment: the third month of not paying the installments the credit institution can initiate the judicial claim. Although if the debt is very small, the costs, fees and legal costs may be higher than the amount receivable. So the judicial route would not begin. But in the case that the lender makes a legal claim, then and as a debtor you have the obligation to pay the loan debt, the interest for delay and all costs arising from the judicial process.