When looking for a € 500 loan, no one probably thinks that such a lesser amount of credit will bring some obstacles and hurdles on the way to taking them. For 500 € sounds little at first, so that no one can really imagine that it will be difficult to borrow such a sum from a bank or any other donor.
In reality, it is exactly this small amount that can sometimes cause some difficulties. Because the manageable sum ensures that the selection of the donor must take place very precisely. After all, a € 500 loan can not be borrowed from any bank or lender.
500 euros instant loan despite Private Credit
We recommend these four providers for a € 500 quick loan without Private Credit exam or despite negative Private Credit entries:
- Cre loan ( our TOP recommendation )
- Express credit
500 Euro credit despite negative Private Credit with immediate payment
A € 500 loan brings with it the first consideration, which deals with what kind of credit it is ultimately. Is it a micro-loan that can be fully repaid within a few weeks, or is it a small loan repaid at reasonable rates over a period of time? This question must ask the prospective loaner, before he goes on the search for a suitable € 500 credit.
A microcredit is a loan offer that can be used to borrow money in a straightforward way. There are some vendors who provide such microcredits and promise to place them within a few hours or a day. The microcredit is taken over the Internet and the prospect does not have to submit any or very few documents regarding its creditworthiness. However, for this lending commitment, the lender requires the prospect to repay the money in full after 60 days at the latest. The borrowed € 500 will then add the interest that is incurred for borrowing the money.
A micro-loan is therefore only suitable for those who have a short-term liquidity shortage and who know that they can make the money available for repayment in a timely manner. Otherwise, this offer would not work and the selection must fall on a microcredit.
A € 500 loan as a microloan has regular monthly installments. This means that the borrower can decide which term of the € 500 credit must or can bring. Since a € 500 loan is a very manageable loan amount, the term will of course not be extremely generous. The starting point is that a maximum term of twelve months is desired.
What can a € 500 loan be used for?
If the borrower decides on a € 500 loan for an offer without earmarking, then of course he can freely decide what the money from the loan is used for. Due to the low sum, it can be assumed that consumer goods are purchased, the account is balanced or a down payment is made on a larger purchase.
But it would also be possible that with the help of the 500 € credit other family members are supported or a smaller investment is made towards the future. Ultimately, the borrower can decide on his own responsibility with a 500 € loan with free use, where the money flows.
However, if you decide on a € 500 loan with a fixed purpose, then it is decided from the outset what the money will be used for. The borrower thus informs the lender about what he wants to do with the money. This would be the case, for example, when a consumer loan is taken out via a trading company or when the € 500 is called up in the form of a car loan.
Find the right provider
Due to the lower loan amount, it is relatively difficult to find a bank that provides a € 500 loan. Most banks have higher minimum amounts that can be borrowed. Usually, these start at 1000 or 1500 euros. It is therefore worthwhile to work with a comparison computer or a credit calculator to find the right provider. This means that the more than 2,000 banks that are domiciled in Germany do not have to be individually requested, but it is possible to find the right provider for the € 500 loan with the help of a simple comparison.
The following key data is required for the credit comparison:
- loan amount
- desired duration
If these data are entered into the reference computers, the comparison computer can work out corresponding offers, so that it is shown exactly which banks or lenders can provide the € 500 credit.
500 € credit despite negative Private Credit
Even though € 500 is not a large loan amount, the lenders still demand appropriate safeguards against the granting of the loan. A positive Private Credit is usually always desirable. If this can not be provided, then work can be carried out with the help of a guarantor or a second borrower. Furthermore, the following safeguards are necessary or recommended:
- A fixed income
- A german bank account
- A permanent residence in Germany
- For the legitimization of a valid identity card or passport
The 500 € credit with bad Private Credit and credit rating
There are many consumers who are negatively affected by default. Even with a € 500 credit, this can be an obstacle.
In such a case, it is possible to work with a guarantor who balances the negative Private Credit and thus allows borrowing. However, it is also possible to apply for the loan as a Private Credit-free loan. This would be possible with credit intermediaries specializing in such offers.
However, it must be kept in mind here and there that 500 € are a fairly small loan amount and it must be looked at exactly which intermediaries can and want to act in this credit line.