A mini credit is a loan of a relatively small amount, with a short term, and is also referred to as a mini loan or flash credit .
Basic principles of a mini credit
The starting point of a mini credit are generally:
- Amounts up to a maximum of 1500 euros can be borrowed.
- The application will be assessed within 24 hours.
- You have money in your account quickly.
- The application process can be completed within 10 minutes.
- You can borrow without BKR testing.
As you can see, a mini credit or mini loan is a form of borrowing money quickly
whereby the process of applying for a mini credit is kept as simple as possible. If you need money right away, this can be a good option because it goes much faster than, for example, applying for a personal loan.
For example, if you want to borrow an amount of 400 euros and preferably also quickly, a mini credit is a good option.
Time of reimbursement
The time at which you must repay the loan is generally not too far in the future. The maximum period for which you can borrow this money is generally 62 days. You must have repaid the loaned amount within the expiry of these 62 days. This is important to take into account when applying for a mini loan.
If you unexpectedly have a negative BKR registration, a mini credit is nevertheless an option to borrow money.
Some providers charge additional costs in addition to the interest payable. Fortunately, this has now been somewhat curbed by the government. Yet it is advisable to take a good look at this. Of course you don’t want to be faced with unpleasant surprises.
Mini credit providers
On our website you will find 2 providers of a mini credit, namely Samboki and Zaloan. These are companies that comply with the legislation in the Netherlands. In the past there were quite a few providers who did not comply with this legislation. The government has since intervened and several providers have been forced to stop.
For which situations can you think of a mini credit?
This type of credit is primarily intended to bridge a short period where you need just a little extra money. This is not a good instrument for larger spending. This is because the interest is relatively high, the amounts are limited and the duration is too short. Then it is better to look at other options such as a personal loan, revolving credit or possibly an extra mortgage.