In case of small incidentals with mini-credits, you can get fast money for any purpose in just 15 minutes, without paperwork, without changing the bank, without giving explanations and with a 100% online process. Compare for free and find the best deals on fast mini credits:
What are the characteristics of fast mini credits?
The payday loans via Purple Payday are non-bank, short-term and low-amount loans with which we can have the money in our account in a matter of minutes thanks to the fact that their application process is completely online. These minicréditos will allow us to get fast money to solve small emergencies that may arise. One of its main advantages is that they do not require us to be clients in advance in order to obtain a certain amount of money quickly and that we can obtain them in our account on the same day without just providing documentation.
This type of financing allows us to get up to 1,200 euros if we are already clients and up to 750 euros maximum if it is the first time we request them. The repayment period of the mini quick loans does not usually exceed 30 calendar days and its reimbursement is made in a single payment of the principal plus the interest generated at the end of the term. Its cost is around 1.1% daily, so 100 euros lent to 30 days will generate 33 euros in fees and we will have to reimburse a total of 133 euros within the agreed period.
How long does the quick mini-credits take to get there?
Mini-loans are the fastest loans we can find in the current market since they allow us to get the money we need on the same day. Thanks to the automation of all its processes it is possible to obtain the money in a matter of 15 minutes. However, there are times when the capital of the quick mini-credits can take several days to reach our account even if the entities make the quick transfer of money instantly.
The mini-credit entities are not banks and must have accounts in different banks to be able to operate with their clients and transfer the money from the quick mini-credits they request. Although transfers between accounts of the same entity are made instantly, transfers of money between accounts of different banks can take several days to become effective. As mini-credit entities do not have accounts in all banks, but only have accounts in some of the main banks in Spain, we must choose the one that has an account in our entity to obtain financing in minutes.
Where to contract fast mini credits?
When looking for financing, the most common is to go to our bank for a lifetime , although it may not be the best option when we look for quick money, since to be able to obtain mini credit instantly we must already be clients with a certain age, with a minimum of linkage and a credit level good enough for the analysis to be done in just a few minutes and allow us to get the money we need at the moment. Among the banking products that allow us to get fast money are the payroll advances, pre-granted loans, and credit cards, although it will be mandatory to have a minimum of linkage and seniority in the bank to get it immediately.
The easiest alternative to get quick loans is to go to a private credit institution. These financial institutions usually have much more flexible requirements and a processing period much faster than that of banking entities. In addition, they do not usually include linked products for the granting of their loans, so it will be more affordable to resort to their loans.
Is it safe to hire quick mini-credits online?
Yes. Online financial institutions must comply with regulations and a series of security protocols for the transfer and processing of data throughout the process of processing and repaying loans since we first entered your website. If we want to get fast mini-credits online, it is important to check that the lender fits these conditions.
They will never ask us to send money in advance: the quick mini-credits do not have commissions of any kind, only the interests that are generated and that will be paid at the end of the term. If an entity asks us to pay a commission before handing over the money to our account, we must doubt its legitimacy.
They will not offer to take us out of ASNEF: we will find many lenders who will offer to take us out of ASNEF with their products, but the only company that can eliminate our information from a list of defaults is the creditor of the debt.
- They have a secure web page: by being able to get them online, the lenders have several security protocols to secure our data. To know if the web page is safe we simply have to see that the url has a green padlock and start with ” https”. It is a security protocol that illegitimate entities that pass themselves off as mini-credits do not have and it is easy to distinguish when entering the web.
Regulated lenders do not resort to classified ad pages. If we find credit announcements on these web portals, it will surely be private lenders.
They will not contact us through social networks. Legitimate financial entities do not carry out customer acquisition campaigns directly through Facebook or Twitter, even though they are advertised through these networks.
Another recommendation is to go to lenders who already have a good number of satisfied customers. For this, we can check the opinions of customers in the HelpMyCash.com tab of the quick mini-credits that interest us or ask in our financial forum, where the experts of the page and other visitors will give us their opinion and their advice. In case we have doubts about the lender to whom we are requesting financing, the best alternative will be to stop the application at the point where we are.
The steps to follow to get quick credits
The application process of the quick mini-credits is very simple and intuitive since the objective of these lenders is to be able to offer their users access to the credit they need quickly. Each entity may have a different contracting protocol in accordance with its risk policies although most mini-credit entities will follow steps similar to the following:
Choose quantity and term: thanks to the loan simulators that most of the quick mini credit entities make available to us, selecting these two values we can check the final price that our loan will have before even making your request.
Fill out the online form: by completing this online document we will be giving the lender the necessary information to confirm our identity and to carry out the credit analysis of our application.
- Deliver the documentation: our identity document, a bank statement and a receipt of income will suffice. These papers will be used by the quick mini credit lender to corroborate the form data.
Read and sign the contract: after analyzing our data and approving our request, the lender will send us the financing contract, which we will have to send back signed.
When the entity receives a copy of the contract signed by us, it will automatically send the requested amount. We will not have any type of agreement or relationship with the company of fast mini credits until we have signed the contract, so we will always have the option to reject the offer until we reach this point.
The forms to contract immediate mini-credits
The process of contracting the immediate mini-credits is very simple and agile since the main objective of these entities is to offer their users financing instantly. Each online mini-credit institution has its own application form and according to its risk policies, the data requested to do the analysis may vary, although the vast majority agrees to request the following data:
Personal information: full name, date of birth and identity document number, either the DNI or the NIE.
Economic data: type of income (payroll, self-employed, pension), amount of income and fixed expenses (mortgage, other loans).
Labor situation: rank, studies, specialty, seniority, type of contract …
Contact information: postal and email address, telephone number and the number of the account where the analysis and the income of the money will be made.
The analysis algorithms with which private entities work will tell us if we have been preapproved almost immediately. In order to obtain the definitive acceptance, it will be necessary to provide the documentation with the proof of the veracity of the data provided in the form. This analysis will also be carried out quickly, being able to complete the entire process in less than 10 minutes, a characteristic feature of the quick mini-credits.
Requirements to get mini urgent loans
One of the aspects that most characterizes quick mini-credits is that the conditions they ask for as access requirements are much less strict than those of other types of financing, although that does not mean that we do not have to meet any conditions. Fast mini-credit entities must ensure that we can cope with the repayment of the mini-loan without problems. In general, the entities will request that we comply with the following conditions:
Be of legal age, although, in general, it will be enough for us to have reached the age of 18, many lenders will ask us to overcome the 21 or 25 years to access their quick mini-credits.
- Reside in Spain permanently: just by providing a color copy and by both sides of our DNI or our NIE, we will comply with this requirement.
Have an income: these have to meet three main requirements. The first is that it is a regular remuneration; the second, that we can justify it by means of an official document to attest its legality.
- Do not have outstanding debts: if we are registered in any register of defaulters, very few quick mini-credit companies will allow us to obtain the financing we need.
To confirm that we comply with the above conditions, the lenders will analyze the data that we have provided in the form, always checking them with the documents that we send them and with the databases of defaults and the CIRBE. In the same way, thanks to new technologies, the evaluation process of our profile have been reduced to a few minutes, and we can count on the quick money we have requested on the same day of the request.
Analysis prior to the approval of the quick mini-credits
In order to accept the request for the financing of the quick mini-credits, the lender will have to analyze our information to see if we fulfill the requirements that will be demanded by means of the analysis of our personal and financial data. Generally, fast mini-credit companies will check the following aspects:
Credit history Through the loan database of the Bank of Spain, which is called CIRBE, the lenders can check if we have paid all the loans we had previously requested. In addition, they will be able to confirm if we have any credit still valid that we have to reimburse at the same time as the quick mini-credit that we want to ask for.
History of default: the lender will consult the ASNEF delinquency database to check if we have committed a non-payment of a loan, mortgage or other financial products. If our default is related to a company that provides services such as electricity or telephone, some free mini-credit companies will accept us as clients.
Reimbursement capacity: the company will conduct a study of our income and our monthly fixed expenses to check our ability to save. In this way, you can check if we will be able to return the loaned capital and interest in the agreed period.
When making the online application of the quick mini-credits we accept the terms and conditions that it includes that we give our approval to review our personal data that we send in the form and in the different databases of which they are partners (CIRBE, ASNEF … ) in order to perform the credit analysis and determine whether or not to approve our request.
Documents to apply for quick mini loans
The quick mini-credits are known for the little documentation they ask us to access the financing we need. However, it is necessary to deliver a minimum of paperwork to verify that we can reimburse the credits without a problem and avoid the fraudulent use of our data. In general, the entities will only ask us to deliver these three documents to carry out the mini-credit application:
Identity document certifying that we are of legal age and resident in the national territory, such as the DNI or the NIE. In the case that we have the expired DNI it will be necessary to present, together with the identity document, the valid passport so that they can give the document as valid and be able to request financing.
Proof of income: we will have to provide an official document detailing the origin and type of income we have. This voucher does not have to be a payroll, we can also use a copy of our VAT or personal income tax return if we are self-employed; A copy of the pension will also be valid.
- Bank statement: this document must include a summary of the movements of the last months. With it, the lender will perform the analysis of our profile to check if we will be able to repay the quick mini credit. Also, it is necessary to confirm that we are the ones who ask for the money and not someone supplanting our identity.
In addition, some private equity companies employ an identity verification system with which we will not have to send any document because they will send in a verified and secure way the data that the lender needs without paperwork or paperwork. Thanks to these applications, the process is faster, because they allow us to send the necessary information to verify the data of the form without the need to send any type of paperwork, simply by accessing our online accounts so that the entity can verify and verify the information without having to documents.
How to get mini-credits instantly with ASNEF
Appearing in a delinquency file, regardless of the amount for which we have been included, significantly reduces our chances of obtaining financing. However, some quick mini-credit companies with ASNEF allow us to access money urgently if we have liquidity problems. In order for our financing request to be approved by appearing in these files, we must comply with two additional conditions to the general requirements:
That the debt does not come from a non-payment to a financial institution, that is, it can not come from a non-payment of a personal loan, a credit card, an overdraft. The types of debts that they accept are usually related to defaults to supply companies since they do not imply that we have not paid for disability, but probably because of some misunderstanding with it.
- That the debt for which we appear in the file does not exceed the limit established by the entity. The maximum non-payment accepted by the lenders will depend on the entity to which we go but can range between 200 euros and 2,000 euros. It is set according to the risk policy of each entity.
If we want to obtain more financing than the quick mini-loans offered by ASNEF, our only option is to make the debt effective to disappear from the file and be able to request any type of financing. Once the debt has been paid, it will be as if we had never been registered with ASNEF and we can contract any product that we wish without any problem.
Can I get quick mini-credits without payroll?
Yes. Not having a payroll as a source of income is not a problem to get financing. However, get quick mini-credits without having a payroll means being able to get them if we receive other types of income alternative to a salary. In order for our funding request to be approved, our income must meet the following requirements:
Regular: we must receive the remuneration on a monthly basis and prolonged in time for a minimum of time. A timely income or that only lasts a few months will not be valid before the requirements of the entities of the quick mini-credits. To be valid we must receive our income during the entire duration of the mini-credit.
Justifiable: it is essential to have a document that indicates that we receive such alternative income on a regular basis in order to access the funding we need. Without this document, we will not be able to get any kind of quick loans. Among the most common receipts of alternative income to the payroll is the declaration of income tax or VAT in case the applicant is autonomous or the pension, for example.
Sufficient: the monthly remuneration that we receive must be of an amount that allows us to face the payment of monthly payments without our economy becoming unbalanced. To verify that we meet this condition, the lender will add the loan amount to our monthly fixed expenses.
If our remuneration meets these three characteristics, we can obtain any type of loan that we want regardless of what our type of compensation is. Among the profiles with alternative income that can obtain quick mini-credits without problems, we find the self-employed or the pensioners since they are the types of income that meet these characteristics.
How fast mini-credits are reimbursed
The mini-credits do not ask for the loan payments in our current account. When dealing with loans that do not require a change of bank and how to repay them in a single payment at the end of the term, the ways of returning the principal and interest on the loan will vary according to the policies of the entity. These are the ways in which we can repay the quick mini-loans:
Bank transfer: this is the most common quick refund option for minicréditos. Simply when the term ends we must go to the online banking or to our banking office and give the order of transfer to the account number that the lender indicates us. If we choose this option, we must take into account the time it takes for the transfer of money between accounts and makes the reimbursement of the quick credit in accordance with these times so as not to delay payment.
Cash income: this is a very common method in the case of quick mini-credits and is the main alternative to bank transfers. To make this payment, we only have to go to a bank with which the lender operates and make an entry in the account number that will provide us. It is important to identify ourselves with our reference number or our name so that it is clear that we have repaid the loan and avoid retaliation.
- Payment by card: it is an increasingly common option in fast mini-credit entities since it allows you to automate the refund as if it were a direct debit. Its operation is similar to that of an online purchase since we will pay in the lender’s own page where they will indicate the amount to be reimbursed and we will detail the number of the card to carry out the return of the quick mini-credit.
Although the most common way to repay a loan is through the direct debit of the monthly installments so that it is automatically deducted from our account and transferred to the lender, mini-credit entities rarely offer this option, as they are reimbursed in a single payment and this option could lengthen the concession process. Likewise, the return form or the different options that will be made available to us will be all detailed in the contract that we sign.
What if I can not return the urgent mini-credits?
If we foresee that we will not be able to reimburse the quick mini-credits that we have in force, it is advisable to contact the entity to negotiate a new form of reimbursement that allows us to return it without unbalancing our economy.
Before hiring mini-credits or any type of financing we must be completely sure that we will be able to repay the credit without problems in the term we have chosen. However, if for any reason we have requested mini-loans online and we can not pay them, there is a way to avoid falling into default and get a few extra days to get the necessary capital: request an extension. This option is about requesting that they extend the reimbursement period a few more days to have an extra time and reimburse the quick loan soon after when our economic situation is more favorable. The terms of the extensions will range between 7 and 45 additional days to the original term, according to the conditions offered by the entity.
This option is cheaper than incurring a non-payment since we will only have to pay more interest for the additional days that we request, which in addition are usually similar to the usual interests, while with a default we would have to pay higher interest rates during those days plus penalties for non-payment. To avoid incurring default, it will be essential to request an extension of the deadline with enough time for the entity to analyze our situation and approve it.
When is it a good idea to ask for a quick mini loan?
Quick mini-credits is a financial tool designed to face an unexpected payment that must be resolved urgently. These loans are a good help in sporadic situations, but they should not be requested regularly, because their high cost and their short repayment period would plunge us into a debt pool that would be very difficult to get rid of.
The first thing that we have to take into account to order these products is that their repayment term is the shortest in the market, with a maximum of 30 days in general. Once this month has elapsed, we will have to reimburse all the mini-credit in a single payment, which will include the capital that we have requested, along with the interest generated in this period.
Another factor that we will have to assess is that the quick mini-credits were designed to face a specific economic unexpected. Therefore, it is not advisable to use these credits as a source of usual financing, to pay a recurrent expense, but in a timely manner, for a breakdown or the payment of a fine or to settle a bank account. Otherwise, we could end up over-indebted, because the cost of these products is too high to request them frequently.
In summary, if we are able to pay the mini-credit and its fees on the date agreed with the lender and we resort to these products in a timely manner and not as a usual funding source, we will be making good use of the mini-loans. Otherwise, it is best to find a source of alternative financing to avoid incurring a non-payment of these products.
Should I pay attention to the APR of the quick mini-loans?
No. By law, the APR (Annual Equivalent Rate) must appear on all financing products, since it is the universal percentage that all lenders and banks use to unify the way in which the costs of these loans are publicized. In general, this percentage is very useful, since it allows us to compare different offers with the same formula and differentiates which of all the promotions will be the cheapest.
However, this percentage is not as useful in the fast minicredits. This is because the APR is a percentage that shows us the annual cost of the loan and the maximum repayment period of the mini-credits never exceeds 30 days, so this percentage reflects what it would cost us a mini-credit if we returned it in 365 days instead of 30, something that would never be feasible, since the cost of quick mini-credits is adapted to a maximum period of one month for its characteristics and purpose.