Most people associate personal loans with large loans, underestimating the importance of a small debt. Yet often 500 USD loans can also be sufficient liquidity to deal with sudden spending.
Precisely for this, several banks and financial companies have thought of products dedicated to micro credit, intended as a small loan that provides for the disbursement of capital not exceeding $ 2,000.
What are the dynamics and functioning of 500 USD loans? What are the financial companies that grant them? Read the article to find out!
Micro Credit of Postal Service
Postal Service offer 500 USD loans, small loans (up to a maximum of 1 500 USD). It is a simple and affordable product that provides a repayment plan with 22 monthly installments and an interesting interest rate.
To access it, it is necessary to have a postepay evolution since the sum of money will be credited to the card in question.
The advantages of this solution include the simplicity of dispensing, while among the negative aspects there is the obligation to have a prepaid postepay evolution card.
Loans 500 USD with Good Bank
Good Bank offers a well-structured product, halfway between a loan and a credit line and dedicated to those who need a small personal loan. The finance company makes the requested sum available on a prepaid card and, gradually, the money is used and the payment of the installment proceeds, the capital is regenerated.
There is always the possibility of accessing capital, however the interest rate is quite high, given that it is around 15%.
Getting 500 USD loans: the other solutions
The opportunities offered by the microcredit market are manifold and among other solutions.
Unicredit offers small loans starting from $ 1,500 and up to $ 3,000, with an interest rate ranging from a minimum of 9 to a maximum of 16%. Instead Better Bank offers tailor-made packages tailored to the customer’s needs.
Do not underestimate the ability to access the loans between individuals.
Credit or financing: what is the best solution?
It is very difficult to answer this question because everyone has different needs. Generally speaking, if you need a small loan and you are sure that it is an extraordinary situation, it is worth opting for a classic loan. On the other hand, if you think that the need may arise several times in the future, better opt for a credit line.