In fact, not much has changed since I wrote about the providers in the previous year. Nevertheless, it is worth reviewing this form of credit once again and sees whether details and/or conditions may have changed. After an earlier storm of criticism about the working methods of the providers of a payday loan, you will only find two in the Netherlands and they are also from the same company.
Where it is no problem in other European countries to provide this type of short-term loans, in the Netherlands it always keeps scouring between the provider and the government. The AFM, in particular, is keeping a close eye on this and in the event of any violations of the regulations, this supervisor will take immediate action. Not only with sky-high fines, but also with the summation to stop offering in the Netherlands.
Payday loan remains popular
Despite all these conditions with regard to the payday loan, this loan form remains very popular. If we can believe the scant public figures, this is tens of thousands of new loans per year. Certainly worth paying attention to.
Borrowing in this way is expensive and certainly not advisable to use with great regularity. However, if you are once in a great financial need, you can make a conscious choice for this and take the high costs once in a while. It is not handy to fill in financial gaps, it is far too expensive for that.
Which providers will there be in 2019?
As previously written, nothing has changed compared to 2018 and we can still use the same providers. After a difficult start, Moneytum and Caldaloan have been active on the Dutch market for many years. With both you can go from € 100 with a maximum of € 1500.
With the last amount you have the option to repay in 2 installments with a maximum duration of 62 days. You have to take out a guarantee for both providers and here the costs are hidden. I have written extensively about the exact costs of a payday loan with one of these two. When you read this information you know exactly what the total costs are at the end of the ride. The interest payable is unchanged at 13.99%. Slightly below the legal maximum of 14%.
Why would you choose this?
If you are in an acute need for money once, you need money quickly and you do not worry about the costs, then you can use it once. You can say a lot of this loan, but it is super fast in your account (usually within 24 hours). This is an advantage, after all, you do not request this for luxury reasons.
On the website of the providers, it is very clearly indicated that the end of the term must comply. Read all information shown carefully so that you know exactly what you are starting. It is always better to ask someone in your area for help, much cheaper and you probably don’t have to sign a contract.
I have written a lot about the payday loan in the past and will, therefore, limit myself here to listing useful information that you can find elsewhere on this website. Have you read enough information and do you want to continue with it.
Then view the payday loan request page. Here you can go directly to the provider of your choice and request a free quote. Again, read carefully what you are starting to do and do not do it if it causes you further problems.