Surely it has happened to you that you have haste to cover some expense but you do not have the necessary money. You decide to go to a financial institution to request a loan but they ask for a series of documents that you do not have available instantly, and you must also wait several days for approval. That does not work for you, because you only have your ID and the money you need fast. In this case a solution adjusted to your conditions is to request mini credits instantly with DNI only.
Now Is it possible to get mini loans only with DNI?
Entities specialized in fast mini-loans are flexible in terms of the paperwork required to request money. Some require additional documents to the DNI, but there are companies that grant mini-credits only with DNI for up to 700 euros.
The entities of mini loans do not place obstacles for the request of minicredit only with DNI, because they have applications of verification of identity that allow to verify the banking data of the applicant. These tools work in the following way:
- Once you have requested the mini credit only with your ID, we must enter the online banking application.
- The verification application will analyze the bank data that the entity needs.
One of the recommendations that we can give you before requesting a mini loan only with your ID, is that you resort to a comparator of these products. On the internet you can find many, which will be responsible for researching and comparing the various mini loans with ID only in the market. They take into account the minimum and maximum amount to be requested, the payment terms, the APR, the additional fees and commissions, among others. This in order that you can analyze and choose the product that best fits your economic conditions.
What are the mini loans only with ID.
The micro loans only with DNI are fast loans of low amount, they are granted quickly, their payment term is short and the lender does not require additional requirements to the DNI. These products are an alternative when immediate financing is needed, either to cover an unforeseen expense or for an emergency. Additionally, it offers the following characteristics:
- From the page of the financial institution you can request online microcredits only with DNI.
- For a microloan with DNI you do not need to deliver many documents and they can also grant you the mini credit without endorsement.
- You can request microloans with DNI even when you are on a delinquency list.
- Mini-credits with DNI only have an immediate pre-approval response.
- If the application is approved, you receive the microcredit in a few minutes.
- Because they are small amounts, mini-credits with ID only are returned in 1 or 2 months.
Mini loans only DNI with Financial Credit Institutions.
One of the concerns at the time of requesting mini-credits only with DNI, is the possibility of asking for it even if you are delinquent.
One of the facilities offered by entities specialized in this type of product is that they have no problems in granting loans with Financial Credit Institutions and without collateral. In fact, if you are on a list of defaulters it does not mean that you are a client who does not pay, because the debt can be due to a delayed electricity bill. This is one of the important aspects that you should consider when requesting mini loans only with DNI, since the entities verify that the debt is not bank and that its amount is not so high. Therefore, if you have a bank debt for a considerable amount of money, the odds of being granted a loan are low.
Another point to consider to get mini credits instantly with DNI and being on a delinquency list, is that you must credit regular income to guarantee the return of money. You must understand that the financial institution puts its capital risk by placing it in the hands of people without much liquidity. Declaring some income decreases this risk for the company and increases your chances of accessing the loan. This condition leads us to another aspect to consider: interests.
The interest charged by lenders is quite high, since they must compensate for the unpaid risk of some clients with the effective collection of interest from others. That is why you should prudently handle the mini loan only with DNI and pay it before expiration if possible.
As for your delinquency situation, once the entity verifies your status and confirms your income, the approval of the fast online mini credits only with DNI is a matter of hours.
Mini loans only with DNI without payroll.
To ask for fast mini credits only with ID, you do not necessarily have to be working. Many people hesitate to apply for a loan when they are unemployed. It is not for less, because if they do not have enough liquidity, facing a financial debt can be hard. On the other hand, presenting a payroll is always a reliable guarantee, so that if you fail to pay, the entity can discount the interest on your payroll.
However, some lenders grant mini- loans for unemployed without endorsement. However, as we discussed in previous lines, you must prove recurring income, an example can be an unemployment pension.
In this way, although the circumstances are different, to access a mini loan only with DNI and without a payroll, you must prove that you have an income.
Now the amounts of the minicredit only with DNI being unemployed, are generally the same as for customers who work, ranging between 400 and 1000 euros, even a little more.
This means that even if you do not have a job, this condition does not rule you out as a client at the time you turn to a company to apply for mini credits only with ID.
Mini loans only with ID without paperwork.
Imagine that suddenly a pipe in your house breaks, the tire of the car is damaged or you had a small domestic accident. Something unforeseen can always happen, and many times we have to have immediate money to deal with the situation. Going to a traditional bank involves using time that you do not have and delivering documents that you must manage. That is why the mini-loans only with DNI are booming. Your application is flexible, without complicated procedures, without so much tedious paperwork. In short, it is possible to request mini-credits with DNI without consigning many documents.
This is due to the fact that many mini-loan companies with DNI only have systems that analyze the client’s profile, specifically applications and programs that if you allow it, can examine your bank details and others. This way it is not necessary to send documents.
Also if the urgency of financing is very large, you can request a credit without guarantees between individuals. These loans also called p2p (person to person) are a novel product aimed at obtaining quick money without intermediation of banking or financial entities. These financial products are solicited through specialized platforms, in which borrowers and lenders are contacted anonymously.
P2p loans are also known as crowdlending. They are available to individuals or companies seeking financing for various purposes. Lenders can also be people or companies willing to grant us capital in return for a return.
Our credit profile will be analyzed and evaluated within the platform, which will assign a level of risk. The higher the level of risk, the interest that must be paid for the loan will be higher.
Unsecured loans between individuals have similar characteristics to personal loans from traditional banks. Their main difference is that they can be hired via the web, without much paperwork and their approval is fast. Something you must take into account is that you can not request this product if you are on a delinquency list.
Returning to the mini-loans, a recommendation before requesting mini loans only with DNI is that you must compare the available offers and the conditions that apply to each entity. We already mentioned that you can explore in a comparator, but you should also review the terms and conditions on the company’s website. If you have questions and have a chat on the page, ask the questions you think are necessary. Also take note of the phone number, email and any other important information. Consider that these companies do not have a physical headquarters, which is an advantage because you do not have to be moving to a branch, but at the same time, if you accept a disadvantageous contract for yourself, the claims become more difficult.
In any case, among the minimum conditions that you must meet to apply for mini-credits only with DNI, are the following:
- Be of legal age or meet the minimum age required by each entity.
- Have recurring fixed income.
- Residence in Spain demonstrable with the DNI.
- Have a current account in the country.
- Phone number.
How mini loans work with DNI only.
The mini-loans with ID only are designed for urgent situations so the delivery of money is fast and the requirements few. For this reason, the mini-loans with ID only earn much higher interest than other products because they are risky operations for the lending companies.
The first amount approved in the mini loans only with DNI is not very high. Generally the first loan does not exceed 400 euros, although if you continue with the same entity you can then access larger amounts.
The conditions of online mini-credits with DNI only change depending on the entity. That is why it is important to investigate mainly in a comparator. In general, the terms are short (between 7-30 days) although in exchange for a fee, some companies may extend the term to more than 30 days.
Now, if you compare the APR of these products with those of traditional banking, you will see that they are higher. So if you extend the payment term, the amount you will end up paying will be much higher. So the value of mini credits instantly with DNI only resides in the speed of its approval and its flexibility.
Apply for mini loans only with ID.
One of the objectives of microcredit with ID only is to provide financing to the greatest number of people. As long as you are of legal age, have a fixed income and have your ID, you have the possibility to request a loan.
To apply for mini loans only with ID you must enter the website of the selected lender, fill out the form highlighting the required amount and send it.
Basically what they request the entities of mini credits at the moment only with DNI is the information that comes written in the DNI, in addition to data like an email and a telephone number. So the request is a fairly simple process.
As for the payment methods accepted by most of the mini-loan entities with DNI only, we have the following:
- Direct debit: the entity will charge the customer’s current account for the payment of the debt.
- Bank transfer: the company will give you an account number in which you can transfer the amount you owe.
- Payment by card: from the platform of the mini-loan entity you can pay using your credit or debit card.
Advantages of mini loans only with DNI.
As you can see, the microcredits with ID only offer some advantages that make these products an excellent alternative when we have an unforeseen expense or an economic emergency. Among the most important we have:
- Number of companies: unlike traditional banking, there are many lenders that offer mini loans only with DNI. So the chances of getting financing increase.
- First free loan: due to the number of companies and offers available in the market, some entities have chosen to offer free mini loans. without costs or interests, you can access mini loans of up to 300 euros completely free.
- Fast and easy management: the request is made on the company’s website. Just fill out a form and you’re done. The response to the request is immediate. Minutes after requesting the miniprestamo you can already know if they approved it or not thanks to the instant processing system.
- Quick money: they just approve your request, in a matter of minutes you have the money in your account.
- Few requirements: mini credits instantly with DNI only are distinguished by the small amount of documents requested. In fact, as we have already mentioned, your ID is enough to request financing.
- Some entities have no problems if you are in Financial Credit Institutions.
The above advantages are summarized in ease and flexibility. Without a doubt, mini-loans are your best option when you need money quickly and without much paperwork.
On the other hand, we also have to talk about the disadvantages of mini loans only with DNI. We can mention the following:
- The price to pay for the loan is high.
- The return period is short, usually 30 days.
- The maximum amount of the loan usually does not exceed 1500 euros.
- High interest due to late payments.
- Odds of over-indebtedness
While we have said that mini loans are used for emergencies or unforeseen expenses, it is also observed that they are being widely used to finance summer vacations, since this period produces more expenses due to travel, lodging and meals. Then people ask for a mini-loan waiting to pay it once they collect their monthly salary.
One last tip is that you should use these products wisely, because their immediacy and low amounts can make you apply for many mini loans only with ID and end up being indebted considerably. Remember that the fees charged are extremely high and the more mini credits you request the more you will commit your finances.