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Borrow without BKR – Student loan

In the Netherlands it is not possible to borrow money without BKR testing. All banks affiliated with the AFM test with the AFM. On the basis of that assessment, it is determined whether they grant a loan to someone with a BKR registration.

Since the start of the credit crisis, there are not so many banks in the Netherlands that provide money to people with a BKR registration. But fortunately there are still banks that still dare to take that risk and who want to help these people. Borrowing money without BKR testing means that people are going to borrow without informing them at the BKR in Tiel. If the lender does not perform a BKR review, they therefore have nothing to consider and therefore a loan will also be rejected.

Mini loan without BKR review

Mini loan without BKR review

A mini loan is a loan up to a maximum of 1,000 USD. In addition, a mini loan is always of (very) short duration. These types of loans are, however, always very expensive and the cry that borrowing money costs money certainly applies here. Mini loans such as “advance payment” or “mini-loan” that are provided here in the Netherlands are particularly popular.

The very big advantage of such a mini-loan, however, is that no BKR review is requested and no BKR registration takes place. In all or in almost all cases you get a mini loan only if you have a job. No interest is charged, but instead you pay handling costs and they don’t lie. Most mini loans are between 100 and 750 USD and have a duration of 15 or 30 days before the loan must be fully repaid.

That is also the reason why there is no BKR assessment. A BKR assessment is only required for amounts greater than 1000 USD and for a term longer than 3 months.

Not all lenders perform a BKR review

Not all lenders perform a BKR review

Not all companies or agencies can request the NID data. Only you or companies and organizations that are members of the BKR can do that. In total there are more than 220 organizations with more than 4000 branches that currently use a BKR assessment.

A list of all participating organizations can be found on the BKR website. So if you want to borrow money and you have a BKR registration, you can look in this list and then search for a lender that is not on this list.

Organizations that do not perform a BKR test

Organizations that do not perform a BKR test

Far away most organizations carry out a BKR test before they start providing a loan or a mortgage. But there are still a number of organizations that are not yet participating. There can be various reasons for this, namely:

  • The lender wants to supply as many products as possible and thereby increases the payment risks on the purchase.
  • The interest on these loans can be very high, in any case higher than the interest at a lender who does a BKR test. With that higher interest rate, the lender compensates for the higher risk.
  • In some cases, banks or lenders with whom you have a long-standing relationship or friendship with you may also want to help you. A loan form based on “good will” also falls outside the scope of the BKR test and you could therefore take out a loan without a BKR test.
Where can you borrow money without BKR?

A lot of people search for hours on the internet for banks or agencies that want to lend them money without a BKR check. This seems to be very difficult in practice. There are, however, some banks where you can borrow money even if you have a BKR registration.

These are banks in the Netherlands that nevertheless dare to risk lending to people with a BKR code or that lender does not even carry out a BKR check. If you want to know which banks and other lenders do not perform a BKR review, it is best to go to the BKR website for this.

They keep a list of all bodies that do perform a BKR assessment. If you know which body does, you can also check which ones do not. They are not on the list.

Always pay close attention to the fact that the BKR is not just about helping institutions decide whether or not to grant you a loan. The BKR is also meant to prevent you from taking out too many loans or a much too large loan that you cannot pay off and that you cannot pay your debts. The BKR is therefore also there for your own protection.

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