When you apply for mini-credits, you want to receive the money the same day and, if possible, in a matter of minutes. Therefore, below, we show what factors you should contemplate to get the best mini loans in 10 minutes and have up to 1,200 euros in your account without waiting or traveling:
How to get mini loans in 10 minutes?
Before requesting these products, we should know that private equity companies will not always give us the mini loans in 10 minutes. So much so that, depending on several factors, the transfer can take up to 48 hours to complete. For this reason, to get mini urgent loans, we must bear in mind that, although transfers between accounts of the same bank are immediate, transfers of money between accounts of different entities can take up to 2 calendar days to be effective, that is, 48 hours.
The mini-credit lenders do not work with all the banks in the country, so we can not always get the money instantly even if the lenders transfer the money at the time. To get mini loans in 10 minutes we must inform ourselves and choose a lender that works with the bank where we have our associated checking account.
How much will I get with the quick mini-credits?
If we need to get extra money and our bank does not offer us financing, there are companies that can grant us mini loans in 10 minutes. These companies will lend us up to 1,200 euros , although they generally do not exceed 1,000 euros, to be repaid in a maximum of 30 days in an agile, fast and flexible manner , although as it is not necessary to have a seniority in the entity or change banks to be able to request them, the most common is that new customers can access a smaller amount that usually hovers between 300 euros and 600 euros, depending on the entity, since the lenders do not know us.
The minicréditos are thought and created in order to deal with unforeseen events such as a breakdown in the home or an unexpected reform, so the procedures to request them are very simple and do not require excessive paperwork, since the objective for which is they created is to dispose of the money in a matter of minutes. For this reason, it is recommended not to use them as a usual means of financing and, in the event that we do so, we must always ensure that we can face the debt without unbalancing our economic situation.
There are 5 steps to take to get an immediate mini credit
Requesting payday loans is very simple and it will not take us more than 5 minutes since the processing is 100% online and does not require just paperwork- loan for payday can be negotiable. If we want to get the money as soon as possible, in the majority of the financial establishments, we will have to follow the following 5 steps:
- Compare between the different minicréditos instantly for incidentals and click on the button “Hire” of the offer that interests us the most. Remember that if we request mini loans from more than one company, we will increase our probabilities of concession.
- Select the amount and term of the mini-loan. The company will verify that with our level of income we will be able to return the credit, so if we ask for more money than we can refund our request will be automatically denied. Thanks to the simulators we will know in advance how much the selected credit will cost us.
- Fill in the online form and send it along with the required documentation. If we want to get minicréditos in 10 minutes we will have to send all the documents that ask us not to delay the process.
- After receiving the approval, we will have to confirm the request by accepting the terms and conditions of the contract and sending it back to the lender.
Once the entity has received the contract, the contract for the mini-loan will be formalized. Then, the transfer will be made at the moment, being able to enjoy the financing that we need at the moment regardless of the day or time in which we make the request since being online is available at any time.
When should I ask for quick mini loans?
If we are surprised by a punctual economic mishap and we do not have enough money to face it, asking for quick mini-credits can be a good way to resolve this situation. Online mini-credits can come in handy if, for example, we need to have liquidity in a few minutes to pay a fine, invoices or repair domestic breakdowns.
However, since the price of these products is higher than that of other loans, it is not advisable to use them as a normal financing system. In fact, if we ask for fast mini loans too often, we run the risk of not being able to return the borrowed money on time or of falling into the error of requesting a new one to pay the previous one, something that could put us in a debt spiral which is very complicated to leave.
In short, to use them responsibly we must always use them knowing that we will have sufficient financial stability to reimburse them within the agreed period without problems and using them only for very specific incidents that require an immediate economic response.
Conditions to obtain mini loans in 10 minutes
Although the mini-credits have more lax requirements than other types of financing. If we want to get mini-credits, we must make sure we meet all the conditions that the lender demands. These are the requirements that, as a general rule, they will ask us:
- Be of legal age and reside in Spain. Some lenders of online mini-credits in 10 minutes may require us to be at least 21 or 25 years old due to their reluctance to lend money to young people.
- Have a sufficient source of income to return the mini-loan and pay the corresponding fees without this implying an imbalance for our economy. It can be a payroll, a pension or any type of income that is monthly, sufficient and justifiable.
- Do not have outstanding debts. If we are registered in any register of defaulters, many companies will reject our application, although some will grant us mini-loans with ASNEF provided that the debt is not a bank or exceeds a maximum limit that is usually around 500 euros.
In case we do not fulfill any of these points, our request will be automatically rejected, which will force us to look for another lender willing to grant us a mini credit instantly. For this reason, it is recommended that we inform ourselves about the demands of the lender we want to contact, before carrying out the application process.
What documents do you require when requesting mini credits instantly?
As we have seen, one of the steps that you have to follow to get mini loans in 10 minutes is to send all the documentation that the company asks us without any error. Each company can ask for some documents or others, but, in general, these are the ones that we will have to provide in most cases when we request a mini credit:
- Identity document to prove that we are of legal age and that we reside in Spain. It will be enough with a DNI or NIE in force.
- Proof of income: photocopy of the payroll, pension, unemployment benefit … a document that shows that we enjoy a monthly payment, lengthened in time and justifiable.
- Bank statement with the latest income and expenses so that the company can check our level of solvency and that we are the holders.
The companies will analyze the documentation provided to know if our profile is suitable to be able to access the credit and reimburse it without it implying an imbalance for our financial situation. Thanks to the use of automatic algorithms we can receive an answer instantly.
What if I do not pay the fast mini credit on time?
In case of not fulfilling the deadlines for the return of the mini credits already, the lender companies apply a series of penalties that, in most cases, will increase the debt of the holders for each day that passes. In addition, if we delay the payment of one or more mini-credits, the companies will contact us by phone or email to inform us of the situation and ask us to pay what we owe. The process that most lenders usually follow in the event of non-payment by a client’s mini-credits is as follows:
- If we do not pay the first installment: interest on late payment will be more expensive than normal interest, indicated in the terms and conditions of the contract and that normally cannot exceed 20% of the debt. Also, the company may charge us a commission for the claim of unpaid fees that is usually 30 euros.
- If we do not pay the second installment: that is, if we have not yet reimbursed the cost of the quick mini loan in the second month, it is quite likely that the company will register us in a record of defaults.
- If we do not pay the third installment: it will be from this moment when the lender has the right to initiate a legal claim to receive his legitimate money, as well as being able to collect the corresponding interest plus the penalties for delay. In case of losing the judgment, the debtor will have to pay the debt plus interest for late payment and court costs.
In order not to end up in this situation, it is best that before requesting mini loans granted in 10 minutes, we are sure that we are able to face your reimbursement and the rest of the conditions established in the contract. If for any reason, we are unable to cope with the reimbursement of the quick mini-credits, we can request an extension.
How to avoid default on a mini-credit
The first thing we must take into account when requesting express financing is that the maximum repayment term is 30 days and that we must return them in a single payment the total amount of money requested plus the fees generated during that time. This means that we must be completely sure of being able to face the credit on the chosen date. However, if for any reason we can not cope with the repayment of the loan, there is a way that will allow us to obtain a few additional days to avoid falling into default: an extension.
Minicredit means to extend the repayment period mpliar the 7.14 or even 30 days from the date of the end of the agreed period to repay the loan. Although we must also pay for these extra days during which we enjoy the credit, this option is much cheaper than not paying since in the case of non-payment we would be charged higher interest in addition to commissions for claiming debit positions.
It is important to request the extension before the deadline because if we do it the last day or a day after, it will count as a non-payment and we will not be able to request this option and we will lose a great advantage when renegotiating the terms of the refund of the credit.