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Borrowing 500 euros, these are the options

Quickly borrow 500 euros? When you can’t go to family or friends, there are plenty of other options. Kredietverstrekkers.com is happy to list the options for you.

Where can I borrow 500 euros?

Where can I borrow 500 euros?

If you want to borrow an amount of 500 euros, it is a small loan. This is also referred to as a flash credit or a mini loan. There are various providers that offer mini-loans, such as Bankate or Balance dip. You can choose from these providers to borrow an amount from € 100 to € 1,500. Since the amount is small, the duration is also shorter. For example, you can choose to repay the loan within 15 days, 30, 45 or 62 days. This payment includes interest and any additional costs for guarantee. The interest rates for mini loans are higher than for other loans. In addition to a mini loan, you could also choose to take out a revolving credit. You agree a certain amount with the lender, but you only withdraw € 500. That way you only pay interest on the 500 euros that you borrow.

The characteristics of a mini loan

The characteristics of a mini loan

You can take out a mini-loan quickly and easily online on the website of the relevant credit provider. You indicate the amount you want to borrow and the period within which you want to repay the amount. This is useful when, for example, you have an unexpected expense, the payment of which you cannot postpone to the following month. If you are short of money at that time, then taking out a mini loan, borrowing 500 euros just as quickly is a good solution. Note that you must pay back this loan quickly, usually the following month. A stable and steady income is therefore important. The following conditions apply when taking out a small loan:

Small loan conditions

Small loan conditions

  • You live in the Netherlands and have a Dutch residence permit;
  • You are between 21 and 65 years old;
  • You can repay the amount quickly, so a steady and stable income is important
  • You can propose a personal guarantor

Personal guarantor

Personal guarantor

Small loan lenders want to be sure that the loan will be repaid. For this reason they ask you to provide a personal guarantor. This is someone from your area who can guarantee the loan. This person can, for example, be a parent or another family member. When you submit an application, you not only submit your own details, but also the details of the personal guarantor. For example, a copy of a valid Dutch proof of identity and a copy of a bank statement from the guarantor are requested. Your personal guarantor must also sign a special agreement and enclose it. Do you not have a personal guarantor? Then you can request an external guarantor via the lender, but you will pay extra costs for this. As an indication: if you want to borrow 500 euros and want to pay it back within 45 days, you pay more than € 170 extra in warranty costs.

Borrow 500 euros from Bankate

As mentioned earlier, Bankate and Sankuri are lenders for small loans. Do you want to borrow 500 euros? Then you can go to these providers. At Bankate you can request a small loan safely and quickly via the website. The term is short and depends on the chosen loan amount. For example, do you only borrow € 100? Then you must repay this loan within 15 days or 30 days. Do you opt for a loan amount from € 600? Then you can choose durations of 2 months. When you borrow 500 euros, you can take up to 45 days to pay it off. You can request the loan safely and quickly online, you specify the desired loan amount and term, upload your data and verify your bank account. When your application is approved, you will receive the amount in your account within 24 hours.

Advantages of a revolving credit

Advantages of a revolving credit

  • Flexible loan form: being able to withdraw money and repay whenever you want
  • Additional repayments without penalty;
  • You only pay interest on the amount that you have withdrawn;
  • The amount and monthly costs generally remain the same.

Borrow 500 euros through a revolving credit

You could also choose to take out a revolving credit with, for example, a bank or a lender. This is a flexible loan, the duration and interest of which are not fixed. You agree on a loan amount and you only withdraw a maximum of € 500. You only pay interest on the borrowed money. It is a loan that offers you a lot of freedom. You borrow one-off or spread extra money up to a maximum amount. That way you always have extra money. A revolving credit is not only useful for borrowing a small amount, it can also be a solution if you do not know how much you need to borrow or want extra money.

Borrow 500 euros easily and quickly

If you want to borrow 500 euros and want to borrow this money without a bank, there are various options. Apply for a small, short-term loan if you are dealing with a one-off, unexpected expense that you can repay with your next salary. Do you expect to need extra money more often? Then it is best to opt for a revolving credit, a flexible loan with which you always have money in hand for unexpected expenses. Note: borrowing money costs money. This also applies to small loans with interest rates that are often higher than with other loans. When taking out a mini loan it is important that you can nominate a personal guarantor. Can’t you do this? Then you pay guarantee costs, which means you spend a lot more money on.

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