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The best loan rates

Well, how do you find the lowest interest rate for a loan? And how do you know which rate is really the best? Certainly also in combination with the loan form. It depends on how much you want to borrow. You can divide this into two groups, up to 1500 euros and everything above that. We explain how it works:

Borrow $ 0 to $ 1,500

If the amount of the desired loan is a relatively modest amount of up to fifteen hundred euros, then you are dealing with a so-called mini loan or flash credit. This is a very different world where different rules apply. Much less rules, because the small amount poses little risk for the lenders.

This way you can already apply for this sum of money without a payslip or other documents. Only an ID-proof / Passport is enough. No BKR assessment is even done! You only need a personal guarantor, but even that can be arranged for you (this is called an external guarantor and is not free). As a result, you may have completed this entire process quickly. For example, applications only take 5-7 minutes and, after approval, the money often arrives in your bank account within 24 hours.

Bankate is the primary party and market leader in this area. They do this worldwide and are specialists in this. They are active from Australia to Canada and in almost all of Europe. The Finnish company has existed since 2005 and are listed on the stock exchange in Fankoes, Germany. In the Netherlands they have recognition from the AFM. We recommend applying for a mini-loan through them in particular.

Further characteristics are the short lead times. This ensures that the interest you pay on the loan remains limited. Especially because Dutch legislation sets a maximum interest rate on an annual basis. We give two examples:

Example 1: If you borrow $ 300 via Bankate, then the duration is 30 days. So you have to pay off in one installment after a month. You then pay back the loan sum plus the interest. That is then $ 3.24

Example 2: You borrow a little more, say $ 1,200, then the term is 62 days and you pay back in 2 installments. Half after 31 days, the rest afterwards. The interest is $ 19.84

Remember that this type of credit is really a bridge. It is therefore important that you can repay this amount in time. On the other hand, that makes it ideal for example to be able to buy a new GoPro camera for your awesome long-distance trip, because you know that you can then pay it off again because you will receive a bonus from your work or the holiday pay will be paid.

$ 1,500 to $ 75,000 or more

This is the domain of regular loans. In the Netherlands, that is a personal loan or a revolving credit. Here you must of course meet all requirements such as a BKR check and salary requirements. But that seems logical to us.

For this you can very well compare the loan rates yourself via the internet and apply directly and conclude online. In the following overview you can see live the state of the most economical rates. These are always real-time and are constantly refreshed.