Borrow money : It happens a lot, consumers who are looking for a small loan of € 500, -. Or something more or less.
But how can you make 500 Euro loans as affordable as possible? Where can you go if you need this amount quickly? Who makes sure that it also happens in a responsible manner, and what are the fables borrowing over 500 euros?
Profitably borrow 500 euros
In practice, we notice that many people who want to borrow 500 euros are mainly looking for a fast loan. We do not look at the conditions because it is “paid back again”. Yet it is true that “wrong” borrowing 500 euros can have major consequences.
This is especially true when borrowing 500 euros in the form of a mini-loan. With this form of borrowing money you get a loan of up to € 800, =, and you have to repay € 600, – or even more, for example, with an amount of € 500, = within 30 days. That is in any case not advantageous to borrow 500 Euro.
A very advantageous form of borrowing money for € 500, – can borrow 500 Euro in the form of a revolving credit . The disadvantage with a revolving credit is that you have to borrow a minimum limit of € 2,500. Because you can also leave amounts in deposit with a revolving credit, you can immediately leave € 2000 in deposit. Here you do not pay any interest and repayment. The amount of € 500, – will be paid directly to your account. You then only pay interest on this amount. The statutory maximum interest rate is 15% on an annual basis.
That looks like a lot, but is still a lot lower than the 300% for the mini-lifts.
How long does the loan application take?
Whether you want a large or a small loan really does not matter. The treatment of the application is identical. Your application is assessed for affordability, and a BKR assessment is done. Then we will go through the proposal with you and mail the quotation to you.
You can then print, review and sign the offer at home if you agree with our proposal.
You can submit all documents directly via our upload page. During office hours these documents are generally assessed within 1 hour. Depending on the busyness at the bank, the money can quickly be in your account.
Fables borrow over 500 euros
There are a number of fables about borrowing € 500, – the round. The most important of these is that borrowing money within 10 minutes in the form of a mini loan would be possible. However, if you request a mini loan for the first time, this is certainly not possible. The processing time of the bank is longer and your documents have to be assessed.
It is also the case that the rounding of a loan of € 500 can take as long as a loan is paid out of € 50,000. The checks on these files will be identical.