Borrowing money without interest, that is possible if you take out a mini loan or a flash loan.
With this form of borrowing, you take out a loan for a short period for a relatively low amount of money (€ 50 to € 800). The amount of money is quickly available, making this form of borrowing extra attractive in case you need money fast.
With a mini loan no interest is paid, so you can borrow money without paying interest. You will, however, have to pay costs when taking out a mini credit. How high these costs are that differ, so it is wise to compare the mini-loan providers, so you can save money on your loan. If you compare, it is also advisable to check whether the relevant lender also provides you with a loan without BKR assessment.
Borrowing fast money
If you want to borrow money as a matter of urgency because you have come to unexpected costs, a mini loan is the ideal solution. You quickly have the loan amount, usually you have the money on your account the same day. With a mini loan, BKR testing is often not carried out and you can also borrow money without payroll, making it possible for the lender to transfer your borrowed money quickly.
Borrow without interest, the mini loan
An advantage of the mini loan is the speed at which you can dispose of the money. Another advantage is that you can borrow money without paying interest. For example, if you are red on your payment account, you pay an average of 12% interest on that, so the interest rate on a mini loan is 0%. You have to take into account that although you can borrow without paying interest you will be charged. You must therefore check carefully how high these costs are compared to the amount borrowed. Our advice is therefore to compare the mini-loan providers before you take out a loan.
Costs for borrowing without interest
The administration costs for a loan without interest can amount to about € 50, – so if you would borrow € 600 every month, then this amount will rise to an amount of € 600, – so this is equal to 100% interest. If you borrow € 600, – once – then the percentage is not yet 10% if you pay € 50, – administration costs. So pay close attention to how much costs are involved in concluding a mini-loan.
Borrowing without interest from which provider?
If you decide to borrow in the form of a mini-loan, you want to take out a cheap mini-loan. Comparing the mini-loan providers is then a must, which provider charges what costs and how high are these costs? All things you need to know if you want to take out the cheapest mini-loan. The savings on a mini loan can amount to a few tenner on a loan and that is quickly earned.
Repay the loan without interest on time
If you take out a loan that you do not have to pay interest on, then it is extra necessary to repay the loan on time. If you do not do this, then the costs are extra high, because you will be fined for not paying the mini loan back in time. So if you have doubts about whether you can repay the borrowed amount on time then you can not request the mini loan, because the penalty is too high in relation to the loan amount.