Do You Opt For a Mini Loan or a Revolving Credit

When you take out a loan, you will be faced with various choices. The first thing you start with is of course the amount you want to borrow, is this a large amount for a long period, or do you need a little more financial room for a short time. The second step is choosing the right credit form. You can choose from many forms of credit in the Netherlands, which is handy, but it does not make it clearer. In this article I will explain the difference between the most common loan. This involves looking at a revolving credit and a mini loan for borrowing a relatively small amount. Of course with a revolving credit the amount to be requested becomes higher and the repayment period is a lot longer than when you are going to borrow a small amount.


Where to start

Where to start

Start by calculating your money requirements. How much do you think you need and what are you going to use it for. I will list a number of facts so that you can easily see which loan form could help you. With regard to the amount you think you need, you can quickly make a choice for a free quote.


Differences loans

Differences loans

Mini Loan Revolving credit Personal loan
Minimum of € 100 Minimum € 2500 Minimum € 2500
Maximum € 1500 Maximum € 50,000 Maximum € 50,000
Repay in 2 months Variable duration Repay in 60 months
Fixed interest Variable interest Fixed interest
Extra cost No additional costs in addition to interest No additional costs in addition to interest
No credit check authorization credit check assessment credit check assessment

Big differences

loan vs debt

As you can see from the overview above, there are considerable differences between loans. That is why it is important to properly absorb these differences before you make a decision. Later in this article you can also read what the purpose of the various loans is and what conditions you must meet to be able to apply successfully. Just as in the table, the mini loan, revolving credit and personal loan are discussed. The mortgage is not taken into consideration, as there are completely different rules that I have described in previous articles about mortgages.


What can you use the credits for

What can you use the credits for

Of course it is your own choice at the end of the ride, but there are differences that make one credit more attractive to your situation than the other. It is as follows:


Mini Loan

Borrow a small amount quickly and also pay back quickly (in 62 days). You pay the maximum interest and there are also other costs involved. Suitable for people who have a bad credit score because there is no credit check check. With an income of around € 900 you are already eligible.


Revolving credit

A revolving credit is suitable for holding a cash reserve. If you do not withdraw money from the credit, you also do not pay any interest. There must be sufficient income in return. Depending on your personal situation, you can apply successfully from € 1400 net. You may not have a negative credit check registration. The interest and the term is variable / flexible.


Personal loan

With a personal loan you get the requested amount deposited into your account in one go. Suitable for financing an expensive purchase. Interest and duration are fixed and you immediately start paying interest and repayment. Also for this credit you must have sufficient income and you may not have a negative credit check registration.