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Apply for a Mini Loan

At Bankate you can borrow a small amount in the form of a short-term mini loan. You can borrow an amount of 100 euros up to an amount of up to 1500 euros. With a loan of 100 euros or 500 euros, the term is often 15 days to 30 days and with larger loans of 1000 euros or 1500 euros there is a term of 62 days.

What is a mini loan?

What is a mini loan?

A mini loan is a money loan for a relatively low amount that must be repaid in the short term. At Bankate you can borrow amounts between 600 and 1500 euros. You apply for the loan online and if the application is approved you have the money in your account within 24 hours. As soon as you select the desired amount via the scroll bar on the Bankate website, you will immediately see how much interest you pay. The loan must be repaid in two installments, the first installment expires after 31 days, the second installment after 62 days. This is the most important feature of a mini loan at Bankate. You must take into account when taking out that you must repay the borrowed amount within two consecutive months.

How does a mini loan work at Bankate?

How does a mini loan work at Bankate?

Requesting a mini loan from Bankate is very easy. You apply for the loan entirely online. In addition, Bankate does not have a credit registration check. They use their own system, so you can also borrow money if you are already registered with the BKR with other loans. As a result, you often cannot take out a loan with a bank because the financial risk is considered too great. But if you are sure that you can repay the borrowed amount within 62 days, you can take out a mini credit with Bankate. This will be assessed after the application. If your application is approved, the loan amount will be transferred immediately. You have this on your account the next business day at the latest. Ideal if, for example, a device breaks down in the house that needs to be replaced immediately, such as a refrigerator or washing machine.

Cost of a mini loan

Cost of a mini loan

You can choose from different amounts at Bankate. The lowest amount that you can borrow is 600 euros. The highest amount is 1500 euros. The screen immediately shows how much interest you pay on the amount you want. Because it concerns a short-term credit that must be repaid quickly, the interest amounts are not that bad. However, you must bear in mind that you must absolutely comply with the repayment obligation with 31 and 62 days. If you do not do this, a fine will follow and the costs can rise quickly. Before applying for a loan from Bankate, it is therefore advisable to first check whether you are able to repay the borrowed money within the specified period. It is therefore really unwise to borrow more than necessary. If you apply for the maximum loan of 1500 euros, you will have to pay back more than 750 euros for two consecutive months. If you can estimate that this is not feasible for you, then it is better to see whether you can also solve the financial problem with a lower amount.

How long do you have before you have to pay it back?

How long do you have before you have to pay it back?

At Bankate you have 62 days to repay the loan. Two payment terms are used. You repay the first part of the loan amount including interest within 31 days. You repay the second and last part within 62 days. This means that you have two months and can therefore use two payments from your salary or benefit to pay off the loan. You can of course also repay earlier. Suppose you borrow 1000 euros on the 20th of the month and receive your salary five days later. Then you can repay the first installment immediately if you wish. This is certainly advisable to prevent you from spending the money on other things.

Conditions of a mini loan

Conditions of a mini loan

A number of conditions apply to be eligible for a mini loan. Bankate only provides loans to persons who have reached the age of majority. In addition, you must have a valid proof of identity, a copy of which must be submitted. Bankate requires a guarantee for the loan. You can appoint a guarantor yourself. This person guarantees the repayment if you are in default. The guarantor must enter the data and provide a copy of his ID0 proof. If you do not have anyone who can guarantee you, you can also make use of external guarantees arranged by Bankate. Additional costs are prohibited. To check whether your bank account number is correct, Bankate requires a test payment of 1 euro cent. This check is only performed once per bank account number, even if you request a mini-loan from Bankate again later.

 

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