Do you want to borrow money immediately? Then you have to find the right way to do this. You can consider options such as a personal account, revolving credit, a mini loan or a credit card. If you are well informed and have a good overview of all loan forms, interest rates and general terms and conditions, you are already one step ahead. Compare them separately, request more than one quote and then make the decision!
What suits you best?
This is not about your brother, sister or brother-in-law; you are the one who must make important decisions about your future. It is therefore important to choose a loan type that suits you. The four loan forms are: a personal loan, revolving credit, a mini loan and a credit card. Think in advance how large the amount is that you want to borrow. Is it an amount up to 5,000 USD or more than 25,000 USD?
Compare, compare, compare
Despite the fact that there are multiple agencies that do the work for you and compare multiple providers, your personal situation is nevertheless unique. This means that the interest here – just like the highest on the amount that you will ultimately borrow – is dependent. It is also checked whether you are registered with the BKR and your life course.
Borrow personal loan for direct money
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If you opt for a personal loan, this is a fixed amount that you must pay off each month. The term and interest are agreed in advance. An advantage of a personal loan is that the interest is higher than with a revolving credit. If you want to borrow a large amount in one go, you are best off with a personal account. A personal account is therefore a good option for borrowing money directly.
With a revolving credit you can borrow in a flexible way. A revolving credit system uses a predetermined maximum amount. You pay when you have withdrawn the money. You are then talking about a fixed percentage of around 2%. The interest rate is not fixed in advance – it varies per loan limit. The advantage of a revolving credit is that you can borrow more flexibly. The rate to be paid is also lower.
Are you taking out a mini loan? Then you can quickly expect the amount in your account. The only disadvantage of the mini loan is that you (as the name suggests) can borrow a modest amount (usually up to 750 USD). What else you need to know: your BKR is not tested and you are dealing with higher interest rates than with a mini-loan. In addition, the mini loan must be repaid within a certain number of days (usually 30).
A credit card
Do you want to request a credit card? With this you can easily withdraw money and you can pay without any problems, up to the credit limit attached to it. Everything you buy with the credit card, you pay once a month. If you do not have the money for a while, a credit starts to run, which you can repay as a revolving credit.
Request a quote for borrowing money directly
If you want to compare several proposals with each other, and ultimately end up with the best offer, requesting different offers is a step that you cannot skip. Things that you must register as plus points are: an attractive interest rate in combination with good conditions. If possible, also discuss this with people you trust in your immediate environment.
Immediately transfer the money to your account when borrowing money
If you apply for a personal loan or revolving credit, the BKR first tests how creditworthy you are. Once you have been approved, you will receive a loan. If you do not pass the inspection, this is probably due to your negative BKR coding. Expect that this negative code will also make it difficult for you to borrow money from other providers. In such cases, it is a good idea to start a conversation with your bank and possibly get the help of a professional.
If you still want money in your account with BKR, it is better to opt for a mini loan or microcredit. These loans have a limit on the amount. The sums of money are deposited into your account quickly. Note: the interest on mini loans and microcredit is often a lot higher than with other loans. It is therefore best to take a mini loan if you want to have the money in your account as quickly as possible and you can afford this due to your personal circumstances.