Wandoo is one of the best mini - loan companies on the market. And this is so for several reasons. Do you want to know them? So keep reading, because we have the most comprehensive in-depth analysis you'll find anywhere on the web.
Who is behind this entity? Is Wandoo legit?
Wandoo is a member of the Wandoo Finance group, a guarantee entity that is totally reliable. It offers flexibility as a differentiation from its competition, since it is capable of granting indefinite extensions for a long time.
This fact speaks clearly of the high competitiveness of the sector. All entities must offer something different from the rest, so Wandoo's proposal regarding more flexible and customer-adapted conditions seems something with sense to achieve its objectives.
This flexibility is especially evident in the possibility of extending the mini-credit indefinitely for up to 11 months. It is something formidable to be able to get out of a hurry for not being able to repay the credit in the agreed time, which always generates more problems.
And not only in these extensions is flexibility seen. There is also the option of canceling the credit in advance, getting you to obtain advantages for it. That is, whether you can return the money early or if you need to do it later, Wandoo gives you options.
The Wandoo Mini Loan
Once we have seen that the entity is reliable, it is time to take a look at the characteristics of this mini-loan. You are sure to love them!
- Maximum amount: € 850. The maximum amount of this entity is quite high, above average. There are entities that offer even more, but Wandoo is not far behind. Even so, it must be borne in mind that these maximum amounts are not usually used regularly.
- Minimum amount: € 50. At this point Wandoo is normal. That is the floor that most companies tend to put, since below that it is not worth it to request or grant one of these mini-credits. From € 50, even if it is a small amount, it can be a good idea.
- First credit of € 300 . Like most entities, this entity places an initial credit well below the maximum that it then grants to clients who have already demonstrated that they are capable of repaying the credits in the corresponding terms. It is a way to minimize the risk for the company, and for the client to test with an interest-free credit how the entity works.
- Maximum return period: 30 days . Here it is also in the average of the rest of the companies. 30 days is usually the term in almost all of them as a limit to return the money. The advantage that Wandoo offers is that there are possibilities of extension, so it is not a rigid deadline.
- Minimum return period: 1 day . In such a short period it is already possible to mark the repayment of the loan. It is clear that it is not something usually, but what the company wants with this is to give you all the flexibility possible so that you can mark the deadlines that suit you best.
- Response time: minutes . You do not have to wait long to grant these loans. In just a few minutes it is already possible to know the affirmative or negative answer regarding your request, which means that the wait is minimal.
- Time until you have the money in your account: if your banks match, in 15 minutes you will have the money in your account. It is the type of product with which you can have a considerable amount of money in your account faster.
Requirements to request it and other conditions
Obviously, to apply for the microcredit, we must meet some requirements. These are the requirements to qualify for this credit:
- No need for payroll: Wandoo does not require payroll to request a loan with them. The important thing is to have regular income, since that is the requirement that these entities usually put.
- No endorsement is necessary: you do n't need to have something with which to guarantee your mini-loan to be granted it. This is one of the great advantages of this type of product with respect to bank loans, in which the guarantee is usually required.
- They are not admitted for those who are in ASNEF: those who are on this list of defaulters cannot access the Wandoo mini-credits. The ASNEF is a way for entities to check which people already have accumulated debts, helping them so that this risk sector can be blocked from accessing their credits.
- It is necessary to be a natural person: as with the rest of the entities, mini-credits are granted only to natural persons, never to companies. It is a point to keep in mind if you were thinking of putting the mini-credit in your name.
- Minimum age: 20 years . Wandoo is one of the companies that sets a minimum age for its customers, although it is somewhat lower than what the rest do, since this minimum age is usually between 21 and 25 years old.
- Maximum age: 70 years. There is also a maximum age for Wandoo customers. Many companies have studied that it is not compensated for them to grant loans to people from a certain age onwards, so they are not allowed to apply for them.
- It is not specified whether the self-employed, the unemployed and pensioners can apply for it. These groups are usually expressly cited in each mini-credit entity. However, Wandoo does not specify in its conditions whether they can request credits or not. In any case, the important thing is to have regular income, since otherwise it is not possible to access these mini-credits.
- Early cancellation allowed: not only is it allowed, but an early cancellation implies advantages for the following credits. It is clear that Wandoo seeks with this to reward those clients who not only meet the deadlines, but also show sufficient solvency to be able to anticipate them.
- Permitted extensions: another of the strengths of this entity. Indefinite extensions can occur for a maximum of 11 months. As we have said, this entity is very clear that flexibility is one of the most attractive proposals it can make to its clients.
Procedure to obtain your mini-credit
Having already seen the requirements to qualify for the mini-credit, let's see what are the steps to follow to get it. As is customary in this type of company, it is a very simple process:
- Fill out a web form with the amount to request and the term you set to return it.
- Identify yourself with your internet banking account , and wait for the response.
- That response to the request comes a few minutes later and, in the case of sharing a bank, only a few minutes later it is possible to receive the funds that have been requested in the account.
It is a process during which no more than a few minutes pass. When someone requests a mini-loan, they do so because they urgently need money. Therefore, it is essential that the entity adapts to the speed that the customer demands, and Wandoo does.
Opinions of the clients of your microloans
The evaluations and opinions about Wandoo are quite good for the most part. This flexibility that the entity shows is highly valued , and makes customers appreciate the advantages that come with being able to adapt the return deadlines to their needs.
That you can cancel the loan in advance without expenses for yourself and that you can extend it indefinitely for almost a year is clear that they are very positive comforts for the client. Therefore, it is normal that the evaluations on these points are so positive.
Flexibility is much more important for many people than the maximum amount they can lend you or the conditions and interest of that loan. When someone requests one of these mini-credits, they are often not clear about what the next few months will be like, so this flexibility is very interesting.
There are not too many criticisms regarding this entity, and these come to the point that they do not admit people who are in Financial Credit Institutions . It is normal for those on that list to complain about it, but it must also be borne in mind that it is a high risk sector for the company.
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I need money
As you can see, Wandoo is one of the microcredit companies that offers the best conditions to its clients. For our part, we can only recommend that you bet on them if you have any kind of need for fast money.