Online loans or mini-credits: what is more convenient?

Personal online loans are a type of credit in which the applicant (borrower) receives a money (loan) from the lender and the only guarantee that he or she will return it is their present and future assets. Therefore, personal loans online are loans without endorsement. For us to understand, if we ask for a mortgage, for example, we are putting our own home as collateral in case we do not return the payment.

This type of credits was traditionally requested in the bank. However, with the emergence of the internet, nowadays it is also possible to request credits online, with the convenience that this entails.

When to choose a personal loan online and when a mini credit?

Mini credits, in general, have higher interests. However, having lower repayment terms, the cost is usually affordable.

If we need little money or if we have a lot of urgency, it is best to go to the mini-loans. If what we want are larger amounts of money and we do not mind waiting a little longer and doing some more paperwork, we will go to the online credits. In addition, we have the convenience of being able to return it in installments.

Mini Responsible Credits : Getting extra money with us is very easy and fast. However, we recommend always using our credits responsibly: request only the amount you need to avoid overpaying and always make sure that you will be able to return it within the indicated period, to avoid ending up over-indebted.

Do you need money now? Compare and request a quick credit now and you will have the money in a few minutes.

Differences between mini credits and online loans

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The first thing we must clarify is that the mini credits are actually also personal loans, since they do not require guarantee or guarantee. However, in general when we find the term personal loan, it will be referring to larger loans and repaying in longer terms.

Mini-loans: Loans for maximum amounts normally less than 1000 Euros to be repaid within a maximum period of 30 days, at a single time. They are requested online or via sms. Without endorsement and without paperwork. For any purpose. They are granted by private financial entities. You can get the money the same day.

Online credits: Credits that are normally returned in monthly installments, for amounts that change according to the offer of the company that grants the credits. Some loans are designed for specific purposes and require us to justify the purpose (for example the purchase of a car). They are requested online and, although it is also possible to find quick credits, in general the procedures will last more days, since they take longer to study our application. They can be requested both through online banks and through private financiers. The latter tend to be faster and less demanding in their requirements.