1300 dollars mini loan
A major financial bottleneck can always occur. For example, if you have to pay rent, discounts and insurance at the beginning of the month, you can take out a 1,300 dollars mini loan if your salary payment is shifted for once. For larger purchases, an installment loan of 1,300 dollars is more advisable. Here you can find out what you should know about mini loans and how you can get a 1,300 dollars loan.
Which providers offer a $ 1,300 mini loan?
If you want to take out a $ 1,300 mini loan, you can do so at Spin Lender or Fine Bank. However, such large amounts of credit are only granted to existing customers.
1,300 dollars is also an amount that not many people can afford in 60 to 90 days. If there are other fees, it can get really expensive. For example, if you apply for a 1,300 dollars loan from Spin Lender, you pay interest of 12.30 dollars for a term of 60 days. However, the term requires the 2-installment option, which costs 149 dollars. The total cost of your loan is 1,461.30 dollars.
An installment loan from a bank usually does not require such additional fees. Even with a better interest rate, you are likely to pay more interest overall than with a mini loan. But you have to pay lower installments and the total cost of the loan is probably lower than that of the mini loan.
If no bank grants you a 1,300 loan, you can turn to a personal loan brokerage platform. Prominent examples are Agree Bank and Instant Cash bank. Once you have registered, you can set your credit request. Registered private individuals then have the opportunity to participate in the loan amount. If this is reached, you will receive the loan. The loans are processed through a bank. This also takes over the repayment of the individual partial amounts to the private donors.
Who can take out a 1,300 dollars loan?
You are probably familiar with the terms of the mini loan providers, because you can only take out a loan of this amount if you have already taken out a loan there.
Otherwise, anyone can take out a loan who has reached the age of 18, is fully legally competent, and has a German place of residence and a German bank account. Over-indebted people generally have no chance of taking out a loan.
Whether you get a loan or not is at the discretion of the bank or broker. In any case, your credit rating will be checked. The test criteria are interpreted to different degrees. With banks, a negative Credit Bureau entry is often sufficient to prevent the loan from being approved. However, it is not impossible because you can also present your current financial situation and offer collateral.
Mediation platforms are usually less strict. Even with a bad Credit Bureau score, you have the chance to get a loan. The platforms also assess your creditworthiness yourself, for example you have the opportunity to prove your regular salary receipt. Similar to a bank, it is also the case with credit platforms that you get better interest rates with a very good credit rating than with an increased risk of default.
What is a 1,300 dollars loan needed for?
You can take out a mini loan of over 1,300 dollars to bridge an acute financial bottleneck. Such situations usually arise in phases in which they are least useful. Perhaps you are earning quite well and have just made a major purchase that slipped you into the disposition. That is not a problem, because the salary always comes on time and the financial planning works out as you planned. Right now there is a system error and your salary will only be transferred two weeks later.
If landlords, utilities and insurance companies want their money at the beginning of the month, the situation can become a problem. In this case, you can take out a 1,300 dollars mini loan and pay your debts. Once the salary is there, you can easily redeem the loan.
Nevertheless, it is advisable to first seek dialogue and request a delay in payment. In most cases, this is not a problem, unless you are regularly in arrears with your payments.
A mini loan is usually not a good idea for larger purchases. If you are sure that you can repay the loan during the short term, you can probably also wait a little longer to save the money. The offer would have to be very good if it were still a bargain despite the additional fees of the mini loan. Financing or an installment loan would ultimately be the cheaper option.
How quickly is a 1,300 dollars loan paid out?
As a rule, you will receive your 1,300 dollars within a few working days. In the case of banks or credit platforms, the transfer is usually made no later than the day after the loan has been approved.
Fine Bank promises to pay out within three to five working days. If you are in the situation of having to have the 1,300 dollars as quickly as possible, you can use the express option. This will cost you 39 dollars. Fine Bank will process your application as a priority and after confirmation, it will take a maximum of 30 minutes for the money to be transferred via flash transfer. Depending on the time, you will receive your money on the same day, but no later than the following working day.
When do you have to repay a 1,300 dollars loan?
When you have applied for your 1,300 dollars loan, you have decided on a specific term. At Spin Lender this amounts to 60 days for the stated amount. You must have paid back the second installment no later than 60 days after the loan approval. Fine Bank offers a choice of 15, 30, 60 and 90 days. On request, you can also arrange a practical installment payment for a fee.
You usually pay back an installment loan in monthly installments. Unless otherwise agreed, the repayment phase begins on the day of approval.