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Further Below: Our Guide To Loans in Spain, Everything you need to know.
Find out how to get money fast in 15 minutes with this type of credit. We help you to easily find out how they work, the best current offers of mini-credits and what to take into account to hire them.
Mini-credits are financing products known as personal loans that arrived in Spain during the 2008 crisis. Their current function is to provide extra solvency to those people who do not have savings to quickly face an unexpected timely payment.
One of the most outstanding aspects of these loans is the speed, since we will be able to obtain the mini credits immediately, in less than 15 minutes. This happens thanks to the fact that the application, signature and granting of the mini-credit is completely online and with hardly any paperwork.
With them we will be able to get up to 300 euros if we are new clients and up to 1,000 euros if we have already repaid an old one without any problems. The return period of the mini quick credits does not exceed 30 days and their return is made in a single payment.
The average price of these credits is 1.1% per day, although the easiest formula to compare and estimate their cost is to calculate the price of 100 euros lent for 30 days.
What we should know about mini-credits
A mini credit online is an alternative to get money quickly in a very comfortable and simple way in case of economic emergencies. However, it works very differently from other types of consumer credit. For this reason, it is important to know how it works and in what situations applying for it is beneficial.
✔️ It’s a one-time expense
✔️ It is for an urgent contingency
✔️ We can reimburse you without problems
✔️ We do not solicit on a regular basis
✔️ We know how much we have to pay
✔️We know how they work
❌ It is a regular or habitual expense
❌ The purpose is not urgent
❌ We are not sure we can return it
❌ We would like to request them on a regular basis
❌ We do not know how much we will pay
❌ We don’t know how they work
Taking into account these parameters we will be able to evaluate according to our economic situation and the need for which we require the cheap online mini-loan whether or not we should apply for it or if it is a measure that suits us.
With the instant mini loans we will be able to obtain small amounts of money to solve small contingencies urgently. For this reason, the amount of these loans is much lower than that of other financial products and, furthermore, varies according to our relationship with the entity.
Up to 300 euros
Up to 1,000 euros
The lack of background of our behavior as borrowers makes the entity does not know us and we can not access a higher amount
We have applied for and returned a mini-loan before without problems, so the lender knows that he can trust us and will allow us to get more money
Some mini-loan institutions also have loyalty levels where we can get more and more money at a lower interest rate as we apply and repay the previous application.
When granting small amounts of money, the conditions of online mini-loans are less demanding than those required by other entities that grant large amounts of money, although it will be mandatory to comply with a minimum number of conditions to be able to access this type of financing:
In order to analyze if we comply with these requirements and thus be granted the mini-loan, we must fill out an online form so that the lenders know our profile.
The documents that these companies will request are simple and can usually be sent by uploading directly to the online form or by e-mail by scanning them or sending a photo. These are the documents that we must have ready to ask for a mini loan:
Many companies currently use mini-credits with Instantor to avoid this step. This is an online identity verification application that will analyze our bank details to avoid sending any kind of paperwork and make the application process faster.
Steps to contract a mini loan
Online mini credit companies make money quickly to their customers, with a process that can take less than fifteen minutes. Thanks to your completely online application and automatic data analysis, we can get mini-credits without payroll without any problem and in only four steps:
Once the entity has the signed contract, the contract will be formalized and they will give the order to transfer the money requested to the account number we have detailed.
What this page is for: our goal is to help you get the best financing for your needs. Therefore, here we explain you what credits with payday guarantee are, how you can compare them to know which one suits you and which offers are the most attractive right now.
Source: the information regarding the main characteristics of payday loans and their current regulation comes from Law 16/2011 on consumer credit contracts among other reference portals.
Methodology: the data relating to the conditions of these products (amount, term, interest, etc.) have been obtained through online research and consultation of the official statistics of the aforementioned reference sources.
About FUNDGECKO: we are an online comparator specialized in personal finance and home economics products. Here you can, in addition to comparing the conditions of all offers, find quality information that will help you identify the payday loans that best suit your needs.
Note: the services we offer are totally free for the user, as FUNDGECKO obtains its income from advertising and its featured products.