700 dollar mini loan
With a US 700 mini loan, you can quickly and easily overcome a financial bottleneck. If your salary is not transferred in time, you can pay your rent with a 700 dollar loan, for example. Such a loan can also be used to pay unexpectedly high bills. At this point you will learn what you should know about mini loans and also how you can take out a loan of 700 USD.
Which providers offer a 700 dollar mini loan?
You can take out small loans over 700 USD, for example, at Lender Bank, Agree Bank or Best Bank. Agree Bank and Lender Bank, however, have one restriction: loans of this amount are only granted to existing customers.
As a first customer, you therefore have a 700 dollar loan from Best Bank. Loans over 700 USD are available from Best Bank with a loan term of 62 days. The APR is 10.36 percent. This results in an interest burden of 9.25 USD. You can only take out your $ 700 mini loan including the 2-installment option, which costs a further $ 149. Without immediate transfer, the loan would cost you a total of 858.25 USD. If you need the money immediately, you can accelerate the payment for a fee of 199 USD.
Who can take out a 700 dollar loan?
If you have a German bank account and are of legal age, you can take out a 700 dollar loan. Lender Bank and Agree Bank only grant loans of this amount to existing customers. At Best Bank you can also get your 700 dollar mini loan as a first-time customer. You do not need to provide Best Bank with proof of income. It is sufficient if you are resident in Europe and are not over-indebted.
If you are not over-indebted but still have a negative Credit Bureau score, this may be annoying, but not an obstacle. Best Bank and other services do not make their decisions solely based on the Credit Bureau score. It is quite possible that you will receive a small loan despite a negative entry.
What is a 700 dollar loan needed for?
You should not take out a mini loan over 700 USD lightly, but only if you are sure that you can really repay it during the short term. For example, a mini loan can help you pay the rent if you haven’t received your salary in time. As soon as you have your salary in the account, you can repay the loan immediately. However, consider the additional fees for repayment in several installments and, if necessary, the immediate transfer.
You can also pay high bills with a 700 dollar mini loan. However, due to the rather high total loan costs, it would be advisable to first try to agree on an installment payment. Most utilities are quite accommodating in this regard. Alternatively, you can also take out an installment loan from your bank. However, many banks only grant installment loans from a loan amount of 1,000 USD.
Here it may be worthwhile to calculate what the total loan would cost you. You pay interest over a longer period of time, even for the 300 USD that you don’t actually need, but you save expensive additional options, so that the total loan amount may be less than that of a mini loan.
How quickly is a 700 dollar loan paid out?
All the providers mentioned offer their standard services free of charge, so you only have to pay the loan amount plus interest. You can get your money quickly at Agree Bank, where the money is usually in your account within three to five working days. Lender Bank takes up to seven working days, while Best Bank can take up to 15 working days to get the money.
However, if you don’t want to or can’t wait, you can also pay an acceleration fee. This is particularly cheap at Agree Bank. If you pay 39 USD, the money will be transferred within 30 minutes by express transfer. Lender Bank charges 99 USD for the express transfer, which is called the Super Deal. This service is only offered to existing customers. With Best Bank you can also book an XpressService option for 199 USD.
When do you have to repay a 700 dollar loan?
When you have to repay your US 700 loan depends on the agreed term. The term usually begins with the payment of the loan amount. Agree Bank is the only one of the providers mentioned, from whom such relatively large loan amounts with terms of 15, 30, 60 or 90 days can be borrowed.
Loans of this amount are only available to existing customers with a term of 60 days. The standard term of 30 days is not offered. With the longer term, payment in two installments is mandatory. As a result, the 2-installment option is automatically booked, which entails additional fees of 99 USD. Plus interest, you would have to pay a total of 805.62 USD for your loan.