Do you need extra liquidity to deal with unforeseen events? With the microloans, you can get up to 1,200 euros in a matter of minutes to solve any emergency. Compare and choose here among the best offers of micro personal loans in the market.
How much money will I get with the microloans?
It depends. First of all, we must know that microloans are designed to get extra liquidity at specific times to face unforeseen events that can unbalance our economy. Payday loans offered by Purple online are characterized, above all, by their speed and convenience at the time of requesting them, since we can do it through a 100% online process and obtain the desired capital in just a few minutes. Depending on the entity we go to, we can get more or less financing.
However, depending on our situation, that is, if we are new or old customers, the maximum limit that we can access may vary:
- If we are new clients: the lender does not know us, since he does not know our financial behavior, only our solvency degree, so the maximum amounts we can access will not exceed 750 euros, although the vast majority will only allow us to access up to a maximum of 300 euros.
- We are already clients: if we have already requested and reimbursed a mini-credit as agreed, the confidence of the entity in us will increase. For that reason, the maximum amount will be higher and we can get up to 1,200 euros, although the amount will depend on the entity to which we go.
We must bear in mind that, although we can access a larger amount from the second request, we must only request the necessary capital to rebalance our economy and only at specific moments of need, never recurrently for expenses that do not require an instant economic response. Thus, using personal microloans in a responsible manner will help us avoid over-indebtedness and not fall into a debt spiral from which it can be very difficult to get out.
When will personal microloans arrive?
Microloans are instantly known for the speed with which they are requested and granted. Thanks to the application of fintech in its analysis processes, we can get an approval in just 5 minutes. However, although entities make fast money transfers at the time they receive our signed contract, there are times when the capital we have requested may take several days to reach our account.
The main cause of this happening is that the lenders work only with some banks, so when they transfer the money to an account of an entity with which they do not work, the income can take up to 2 business days to be made. For this reason, it is always advisable to ask for a personal mini loan to a company that works with our bank, because that way we will receive the money practically instantly. In addition, we must take into account the schedules of the lenders, since they are not operational for 24 hours.
How are mini-credits returned with a personal guarantee?
Companies that grant microloans without collateral usually have several payment methods so that their customers can repay the money in the way that is most comfortable for them.
Let’s see what are all the ways to return the capital plus the interests of personal micro-loans, although not all companies will offer us these ways to make the return:
- Transfer of the microloan: it is the most common option. To reimburse the requested capital simply we must indicate the lender’s account number and transfer the capital that we must indicate our identifying data. We can do it either through the Internet or at our bank branch.
- Payment in cash: we can also reimburse the microloans by entering the cash of the capital that we have requested in any of your accounts. To carry out the reimbursement with this option we must go to the bank where the lender has the account. In this case, it is very important to specify our data so that the entity knows that we have repaid the loan.
- Card payment: as if it were an online purchase, we can pay the personal microloan through the online platform of the lender.
As a general rule, we can choose the reimbursement method that suits us, since many lenders offer all the return methods we have mentioned. If for whatever reason, we can not meet the reimbursement period indicated, the best way to avoid incurring a default is to ask for an extension before the deadline expires. Thus, we will not have to pay late interest, only the extra fees to extend the return period and the cost of the extension, since the costs for failure to pay will always be higher than the delay costs.
Are online microloans safe?
Yes. In general, ordering and contracting these products through the Internet is a very safe process. However, due to the popularization of personal micro-loans, several fraudulent companies have appeared that try to deceive the applicants of financing with suspiciously attractive offers. Therefore, when looking for immediate mini-loans it is important to take into account several factors that will help us differentiate legitimate mini-loan companies from those that are not :
- That they are members of AEMIP: the seal of AEMIP means that they are partners of the Spanish Association of Micro Loans and it allows us to know that it is a legitimate site and that they follow its code of good conduct. However, there are many lenders who are not in this association and are not fraudulent, but it will give us extra confidence.
- That they have security online: when contracting personal microloans we must introduce some sensitive information, for this we must make sure that the platform is safe:
- The web address has to start with the acronym https://, an indicator that the information is encrypted and can not be accessed by third parties.
- A green padlock appears before the URL.
- Do not ask for money in advance: no microcredit entity will charge us commissions, so we should suspect any entity that asks us to pay before transferring the money quickly.
- Nobody can take us out of ASNEF: the only way to get out of a delinquent file is by paying the debt for which we are enrolled. No entity can eliminate us in exchange for “management expenses” or “attorney costs”.
- Search for opinions: before hiring a microloan, it is convenient to conduct an online search for the opinions of other clients. It is important to know how to distinguish between unsatisfied users of the victims of a hoax.
Taking into account these factors we make sure that we are facing a legitimate and safe page. If you have any doubt, it is best to go to personal micro-loans companies that many users have already trusted. For this, we can also search in different associations of mini credits instantly and see if the entity we are going to figure in.
Offers and advantages of personal microloans
Because of the great competition that has arisen in the financial sector and specifically, among private equity lenders. Most have decided to include new features, offers, and advantages in their products to attract as many customers as possible and differentiate themselves from other companies.
Thus, we can currently obtain different urgent microcredits with a great variety of new features that may be very useful depending on our needs and our profile:
- Free: some lenders will allow us to get mini-credits without any additional cost, that is, only to return the amount they grant us.
- Discounts: other companies have chosen to apply discounts on the fees of their products.
- Deadlines of more than 30 days: on the other hand, if we are interested in reimbursing the capital in more than one installment, we can also resort to microcredits with terms longer than one month.
- Loyalty programs: lenders interested in customer loyalty have also launched loyalty programs full of advantages.
Although all these advantages are interesting and tempting, we must be responsible and request personal microcredits only if we need them and if we are sure of being able to reimburse them without problems.