5 questions you have to ask yourself before applying for a mini loan

If you think about applying for a loan, there is nothing to be ashamed of.

ask for a minilening

Namely, almost everyone has a kind of debt. This could be a loan for a car, credit card, a mortgage or student finance. It happens to everyone.

So, if you consider a loan, the most important thing is that you make a decision with knowledge.

First of all, it is important that you apply for a loan for the right reason. Secondly, it is also important that you weigh all options against each other, and that you know exactly what you are looking for.

Before you apply for a loan, there are five questions that you have to ask yourself.

How much money should I actually borrow?

Before you make an application, ask yourself how much money you exactly need. If the purpose of the loan is to purchase a product, for example; it is possible to save half, and the rest to be supplemented with the loan, so your debt is actually halved.

In the event that time plays an important role in your consideration to apply for a loan, saving is not always possible.

In any case, budgeted first, and see where you can save some money here and there. Once you have established a budget, you can see how much you need as a supplement, and how much you can spend on paying off a loan.

Do I have enough income to repay the loan, including interest?

The very first thing you should look at when applying for a loan is that the minimum amount you will have to pay does not have to be paid every month. There is more to it, namely the interest to be paid. Depending on the loan, the interest will be raised daily, weekly or monthly.

Coming back to the budget that you have put together, what you have left monthly for a possible repayment, will have to be higher than the minimum monthly amount that you will have to pay, and also the interest over that month.

How long do I need to pay that loan?

The loan period differs per type of loan. It indeed depends on which loan you want to apply for exactly, and how much money you need. It can be weeks or months. Choosing the loan period is just as important as choosing the amount and the associated interest.

Something you will have to consider at all times is a loan where you can redeem early. , for example, gives customers the option to redeem at all times, without any additional payments. This gives the customer the option to make payments at their own pace, and to give flexibility to the customer.

Choose a loan that you can redeem without any extra costs.

How am I going to solve that with the other debts I already have?

If you already have other debts, be it a credit card or other debts, your debt is no longer a good idea. You only press yourself further into debt.

Before you apply for a short term loan, make sure you already have a plan to pay off your other debts. Do you allow your budget to make another repayment?

Did I find the right provider?

If you want a short-term loan, then you have little choice in the Netherlands. You can request an unauthorized debit from the local bank or you can apply for a short-term loan.

Beyond the costs and the total financial picture, we advise you to choose a provider where you feel that it is the right provider for you.

Find a provider that is especially reliable, and search for reviews on the internet.

Wik and weigh everything up against each other, and the choice you make with knowledge, will also be the best choice.

At , we are all doing a bit different. is internationally known as an innovative and leading provider of mobile financial services, and has been a pioneer in financial technology since 2005

When you apply for an online loan from , you can be confident that you have ended up in the right hands. We believe in clarity and transparency. No hidden costs.

When it comes to money, you have less of a concern with !