Free loans and credits
The large number of financial institutions in the micro-loan and mini-credit sector also means a high level of competition. In order to attract new clients, some lenders provide free loans and credits, that is to say that the borrower on the day of the expiration of his loan only returns the amount borrowed, without interest, commissions or fees. However, most of these offers are welcome promotions, available only to new customers when applying for the first loan. The maximum amount is normally limited to about € 300 to be returned within 30 days (although offers of up to € 800 to be returned in 2 months can be seen). The conditions of loans and free credits, promotions, loyalty programs and interest discounts, depend on private financial institutions.
Normally they are not just requirements to apply for a free loan, however it depends on the particular offer. In general it is necessary to have residence in Spain and be of legal age, justifying it with a valid identity document (DNI / NIE). Also have a bank account, to enter the money, a mobile phone and an email account to communicate the request with the lender. In addition, it may be necessary to show periodic income (be it payroll, pension, subsidy), as well as not being included in the files of delinquents for financial debts.
Micro loans and free mini credits
The application and all processing of micro loans and free mini credits is carried out 100% online, with hardly any paperwork. Most companies put a calculator on their website, to choose the amount you need and the time of the loan contract. Then you just fill out a simple form and the lender informs you about whether your loan application was approved and will quickly deposit the money into your bank account.
All the parameters of the free loans and credits, the amount, the repayment term, the requested requirements or the possibility of anticipating or extending the payment depend on the contract and the particular conditions of each lender.