Microcredit | Compare Microcredit ProvidersUncategorized
What is a microcredit?
Microcredit is a common term in the financial world. In the first instance, you may associate this form of borrowing with developing countries, where small self-employed people can build a livelihood through microcredit. But did you know that microcredit is also a popular loan with us? This concerns a small amount of between 100 and 1500 euros, which you can borrow quickly and also have to pay back within the foreseeable future. A microcredit is also called a mini loan or a flash loan. This loan is usually provided to people who unexpectedly incur additional costs and then just do not have enough resources to withstand it until their next salary.
When do you use a microcredit?
Suppose your car suddenly breaks down. Very annoying of course. Certainly if you depend on it for your daily transport or for your work. Then you cannot wait with the repair until your next salary arrives. Unfortunately, these types of costs quickly go into the papers and there is a good chance that you do not have that money somewhere. You can then use a microcredit for such situations. With a relatively low loan of several hundred euros you have been helped out and you can continue your way. Once your salary has been deposited, you can start paying off the loan amount. You usually have about two months to do this.
Where can you go?
There are various providers of mini-loans on the internet. But how do you know which lender suits you best and which one is the cheapest for you? Kredietspotter.nl can help you with this. This site offers you various free quotes from a number of very reliable lenders. All you have to do is enter your details and the desired amount and Kredietspotter will search for the right loan with the lowest interest rate for you. You can compare quotes and conditions at your leisure and make a well-considered choice. Even if the amounts involved are relatively small, it is always wise to be properly informed first.
How do you request a microcredit?
On the Kredietspotter site you first enter the requested information. How much money do you need and how much is your net monthly income? Do you have a partner with an income? Or are you registered negatively at the BKR? How many fixed housing costs do you have per month? This and other data ensure that Kredietspotter can offer you appropriate quotes from various lenders. Of course, you decide with whom you will ultimately work, on the basis of the conditions set and the various interest rates.
What is the duration of a microcredit?
The duration of a microcredit depends on the amount borrowed. If it really concerns the smallest loan of 100 euros, you can often repay the loan within 15 days. Up to and including 400 euros you usually have a choice between 15 and 30 days’ duration. And for the maximum amount of 1500 euros, a repayment period of two months is generally used. Because the amounts involved are relatively low and the term is relatively short, the interest due on these amounts is usually easy to pay.