If you need financing immediately and for free, in the current market you can get loans, even if your credit is bad in a matter of minutes. These minicréditos without interests offer you the best offers so you can get the extra financing you need comfortably and without losing time in paperwork.
Does interest mean free?
Thanks to the strong competition that has emerged in the mini-credit market, several lenders operating in Spain have decided to launch promotions and offers regularly to differentiate themselves from the rest of the companies and thus attract more clients. Some companies, even, have gone a step further and offer free mini-credits for new customers. So if they lend us money, we will only have to return the amount requested, nothing more.
These minicréditos are a financial product that has no interest cost, so if they did not have it for commissions we would leave completely free. We ask for 300 euros and when the repayment period is over, we return the 300 euros only.
Therefore, we will not be able to access more than 300 euros if it is the first time we request a free mini credit. Also, the maximum amount to the request is 300 euros, as well as its term, does not go beyond 30 days.
Precautions when hiring a mini-loan without interest
In general, private lenders do not enjoy a good reputation, but in reality, their offers and promotions are very serious and rarely contain additional costs hidden in their “fine print”. Therefore, your interest-free credits are totally free, although it never hurts to take certain precautions to ensure that we will not have to pay fees or other expenses when we sign the contract :
- Beware of the commissions! Some lenders, almost always banks, offer bids at 0% but with some trick, since they do not charge interest but commissions, such as maintenance or opening. Before signing a personal loan, we must check that your interest is 0% APR (and not TIN), since this indicator takes into account both interest and commissions. In addition, we must carefully read the contract to make sure that there is no additional cost.
- Beware of breaching the terms of the contract! In case of not fulfilling the requirements established by each company (such as returning the money within the established period or being a new client), the interest will be similar to any normal mini credit, that is, between 25 and 40 euros per every 100 euros lent to return in 30 days.
As we can see, before requesting a mini-credit with no interest, it is very important that we make sure to comply with each and every one of the conditions of the promotional offer, otherwise, it would not be free.