Nowadays it is often possible to arrange important matters online, so you can also take out a loan online. The advantage of this is that you can apply for your loan safely, easily and quickly.

Do you want to know what is involved when taking out a payday loan online? Then read on.

Why take out a payday loan?

The reason for taking out a loan is a personal decision and different for everyone. For example, people take out a loan for solar panels , a renovation of their home, to pay for their studies or an expensive operation. But the car can also break down, for example, or a household appliance suddenly stops working. If you do not have a financial buffer and need money in the short term, taking out a loan online can be a good solution.

Advantages of taking out a payday loan online

Advantages of taking out a loan online

  • FLEXIBLE

    Internet is available day and night, 7 days a week. This allows you to apply for your loan at any time.

  • ANONYMOUS

    You can take out your loan online anonymously from the computer. Of course you provide your personal details, but you do not have to show your face to the lender.

  • CHEAPER

    In many cases, borrowing money online is cheaper.

  • SAFE & EASY

    The application process is secure via the internet and is also easy to complete.

  • FAST

    When you request a quote online, in most cases you will receive it in your mailbox the same day.

  • NO PAPER WORK

    You can deliver important documents faster by means of a scanner and e-mail. This way the loan can be made even faster.

Types of loans that can be taken out online

Types of loans that can be taken out online

There are various forms of consumer credit that can be taken out online. The two best-known forms are the Payday loan and the revolving credit.

Payday loan

Personal loan

A Payday loan is a loan for which the loan amount, the term and the interest are fixed. You know exactly where you stand with a Payday loan, so this loan offers a lot of security. With a Payday loan you can borrow an amount from € 2,500 to € 75,000. The amount that you can borrow depends on a number of factors, such as your income, expenses, assets and age.

Appointments with the lender about

Appointments with the lender about

  • The loan amount
  • The duration
  • The credit compensation
  • Payment terms

Revolving credit

If you do not know exactly how much money you need or need extra financial space, you could also choose to take out a revolving credit. You can take out this loan online. It is a flexible form of loan where the loan amount, the term and the interest rate are not fixed. You agree a maximum credit limit with the lender, from € 2,500 to a maximum of € 75,000. You can then withdraw money up to the maximum credit limit, how much you want and when you want. You only pay interest on the amount that you have withdrawn. For example, if you have only withdrawn 500 euros instead of the entire credit limit amount, then you only pay interest on those 500 euros.

Borrow a small amount online

Sometimes it can happen that something breaks that you need to have repaired as quickly as possible, such as a car or an important household appliance. But the month is only half gone and you have already had to pay a number of expensive bills. Your financial buffer is also not large enough, which means that you cannot currently finance it yourself. You know for sure that you can pay for the repair next month when your salary is paid again. Waiting for the payment of your next salary is an option, but not always possible. Certainly when it concerns an important device. With a mini loan you can borrow a small amount online. You borrow the amount you need (maximum € 1,500) and pay it off within a short period (maximum 2 months). That way you can absorb unexpected expenses and responsibly borrow. With Bankate and Dumerty you can take out a small loan online, this is easy and fast online. You indicate how much you want to borrow and when you expect to be able to pay it back. This can be for example in 15, 30 or 45 days or within 2 months. The amount of the term is determined by the amount that you borrow. If you borrow an amount below 600 euros, then you must pay it back faster than if you take out a loan of, for example, € 1,000. The advantage of taking out a small loan is that it does not matter how you are registered with the BKR. You only have to specify a personal guarantor, someone who can guarantee the loan you take out. 

Borrow online and BKR

When you take out a Payday loan or a revolving credit, you are faced with the BKR. A lender is in fact obliged to register with the BKR when they lend you money. The BKR investigates whether it is responsible for you to borrow. In any case, you are always registered with the BKR when taking out a loan, this is called a positive rating. If you stick to the agreements for the repayment, there is nothing wrong. Do you pay a number of times too late or do you not keep to the agreements? Then the positive rating can be converted to a negative rating. So think carefully whether taking out a loan online is justified in your personal situation.

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