Have you had any problems or unforeseen and need a € 400 loan to spend the month? Quiet! We have all gone through a similar situation at some time. Let us show you the best options to get that money and successfully overcome the bump you are going through.
If you are looking for a € 400 loan it must be because you have had a very important unforeseen event. For example, because your washing machine has been damaged or a similar problem, right?
We have all met in that situation sometime, and finding the money to deal with that cost is not always easy. That is why loans are often used to deal with that small (or not so small) unforeseen.
It is normal to go to a mini-credit company
In the case of an amount like this, because it is the one that offers the best conditions for such small amounts of money. Now, are they always the best option?
In the next section we are going to delve a little into the characteristics of this type of mini-loans, but, before moving on to it, you should know that it will always be preferable that you try to obtain the money by more informal means.
For example, if you can take your own savings or get some extraordinary income in some way, it will be a better solution, because you will save yourself having to pay interest on that loan you receive.
It can also be a good option to go to a family member or friend to lend you the money, so that you only have to return that amount of money without interest (or with very low interest).
However, if you are here, you have probably already considered those options and are not viable, and therefore you need to go to a mini-credit company. So, clarified that you should consider the above options before, let’s see how these types of companies are.
How can I request a loan of 400 euros?
To apply for a loan of 400, you have to go to a mini-credit company, because the largest entities dedicated to more “usual” loans are not going to give you a loan for such a small amount.
Therefore, you must go to a mini-credit company. In the next section we are going to mention which are those mini-credit companies that we consider better (after having done our analysis).
But, before that, let’s see what are the general characteristics that have this type of financial institutions (yes, keep in mind that they must not necessarily have all the characteristics, they can only have some of them):
- It does not matter if you are delinquent: One of the first characteristics of this type of companies is that it does not matter if you are on lists such as Financial Credit Institutions, because it is the company itself that is responsible for making a risk profile for you, and deciding if they give you or not the credit. Therefore, these mini-credits are usually the best option for those who no longer have other alternatives.
- Up to € 500: Normally, mini-credit companies give between € 50 and € 500, so if you need € 400, these types of companies are the best to get that money (yes, keep in mind that you will have to return it with interests, how could it be otherwise).
- One-month terms: The repayment terms of the mini-credits are slightly different from those of other loans. Here, normally, you have to return all the money (the loan and the interest) in a month, although sometimes it can be a little longer or a little shorter term.
- Possibility to extend: In the case that the day comes to return the money and you do not have it, you can extend the term, although that will imply an extra commission that you will have to pay. However, it is usually a very good option, because it will always be better to pay a small amount and then return the loan that cannot be repaid.
- High interests: This must be clear: These types of loans offer many comforts to the borrower and the lender assumes many risks. That is why it is natural that these companies seek to protect themselves against this risk as much as possible. And that is why they charge quite high interest rates (compared to other financial entities).
- Fast and online process: Another very common feature in all mini-credit companies is that loans are always carried out online and the entire process is telematic. Therefore, there is no need to visit any physical office or send papers by mail. This makes the process very fast.
- Instant money delivery: Money delivery is also very fast. As soon as they have given your approval, they will send the money to your account and, depending on the bank, it will take a few hours or a day. So, from the moment you start the application until you have the money in your account, just a few days pass.
- Without endorsements: And all this without the need for guarantees. In some cases, they ask you for a minimum creditable income to make sure you are going to pay. But, in some other cases, they don’t even ask you that. So access to mini-credit money is very simple and convenient.
Where can I apply for a loan of € 400?
The market offers a good amount of options when hiring an urgent mini-loan of € 400. It is important that you keep in mind that, for this quantity, there are no longer so many options as for smaller quantities. But, despite everything, you still have enough options.
As you can see, today you have many ways to solve these small contingencies, and € 400 loans are an excellent option. If you have any additional questions about it, you can leave us a comment and we will try to advise you better.