Gandalf.es is an online mini-credit portal that has a financing proposal that stands out among the offers of other similar sites. This company offers credits of 100 to 900 euros to be returned in weekly installments during a period of 13 or 26 weeks. Gandalf has a much more flexible return term than other fast loan portals. In general, these sites offer a maximum return period of 30 days.
The first loan Gandalf can be requested for an amount of 100 to 300 euros. As loans are requested and returned, Gandalf is increasing the maximum amount of financing up to 900 euros. This is another point that distinguishes Gandalf within the category of quick loans. Most online credit portals grant loans for a maximum amount of 300 or 500 euros.
The weekly installments of Gandalf loans are paid by debit card. If a payment can not be met, Gandalf grants 48 hours to resolve the situation. During this period, no fee is charged. After 48 hours there will be a charge for non-payment of 20 euros, Gandalf does not apply other additional costs for delay.
Credit requirements Gandalf
To be able to access the Gandalf loans it is necessary to fulfill the following conditions:
- Be a Spanish resident of legal age
- Have verifiable monthly income (can be a payroll, pension, unemployment insurance, etc.)
- Be a bank account holder
- Have a debit card
- Have a personal mobile phone
Another characteristic that distinguishes Gandalf from other portals is that it grants credits even if it is not working. What is required is to have a monthly income, which can be a retirement, pension, unemployment insurance or other type of verifiable social benefit. This is a point that is mentioned frequently in the Gandalf opinions. Thanks to this requirement many people who could not get a credit in other portals managed to access the money they needed.
You can apply for a Gandalf.es loan even if you have a history of debt registered with Ferb. It only requires that it is not a bank or financial debt. The fact that the company provides credits with a debt history is another characteristic highly valued in the Gandalf opinions.
Gandalf loan application process
The credit application form is available at www.Gandalf.es. On the site you can access the simulator free loans where you can check the conditions that will apply to fast Gandalf credits.
- In the first credit you can order between 100 and 300 euros. If you have already requested a quick credit with the company, the financing limit can reach a maximum of 900 euros
- Gandalf has a return period of 13 or 26 weeks
Once the amount and duration of the loan is completed, the online loan form must be completed.
The data to complete in this application form are:
- Full name
- Document number or NIE
- Email address
- Mobile phone number
- Bank account (it is necessary that the applicant is the owner of the account)
- Data of the debit card that will be used to make the payments
It is a prerequisite that the applicant of the credit is the owner of the contact telephone number. This is a condition that all microcredit sites share. You can not use the number of a family member or friend to request personal loans online. Although this seems like a minor detail, it is one of the main reasons why a request for funding is denied.
After sending the credit request, a Gandalf agent will contact the applicant by phone to confirm the data sent. Credit requests can be made 24 hours a day on Gandalf.es. However, the customer service department only operates from Monday to Friday from 9 a.m. to 7 p.m. In case of making an application after business hours, the company will contact you as of the next business day.
According to the Gandalf opinions, one of the main advantages of this portal is that it allows access to financing even if there is debt registered in Ferb or other similar organizations. Gandalf will also carry out a credit check of all the applications it receives. The company does not guarantee that all credit requests are approved, if in the credit analysis it is determined that the applicant is in a situation of insolvency, the loan will be denied.
When sending the credit request, Gandalf will perform a check of the debit card to confirm that it is active. This verification is done through a charge of 0.01 euros that will be returned to the applicant within 24 hours. The refund of the amount may take between 1 and 7 days depending on the return policy of the bank where the card is domiciled.
If the loan is approved, Gandalf takes between 15 minutes and 24 hours to complete the accreditation of the money.
Interest rate loans Gandalf.es
The interest applied will vary according to the amount requested and the return period chosen. In www.Gandalf.es you can consult the free loan simulator to see what conditions the loan will have.
We will analyze some illustrative examples of personal credits with different characteristics. It should be noted that the interest rate applied is different if it is the first request for quick money that is made or if you are already a customer of the portal.
Loan of 300 euros to 13 weeks that is requested for the first time
- Fees and interest: 167.09 euros
- Total to be returned: 467.09 euros
- Weekly payments of 35.93 euros
- TAE rate: 2229%
Loan of 300 euros to 13 weeks that an existing customer of Gandalf requests
- Fees and interest: 130.69 euros
- Total to be returned: 430.69 euros
- Weekly payments of 33.13 euros
- TAE rate: 1221%
The maximum amount of financing granted by Gandalf is from 900 euros to 26 weeks. These loans are reserved for clients who have already requested and returned loans with the company
- Fees and interest: 760 euros
- Total to be returned: 1660.62 euros
- Weekly payments of 63.87 euros
- TAE rate: 1008%
The APR rate is an annual measure of interest. The repayment period of the Gandalf credits is of weeks, this makes the APR rate higher. Likewise, the APR rate applied to these loans is within the usual parameters for online mini-credit sites.
Loan repayment and arrears
Gandalf makes the monthly payments automatically by debiting the amount of the monthly fee of the debit card informed in the application form. In case of not having the necessary funds to make the payment, the company grants 48 hours to make the corresponding payment. During this period no additional charges are charged. If the 48 hours are exceeded and the payment was not made, the portal will apply a charge of 20 euros per delay.
Gandalf will send the credit holder 3 reminders of non-payment by email. In this instance, the company allows payments by credit card, debit card or bank transfer.
Once 5 unpaid weekly installments accumulate, Gandalf will proceed to make the loan advance resolution. This means that the holder must pay the total amount owed and the additional surcharges for non-payment.
Something very important to keep in mind is that not making monthly payments or paying late can have a negative impact on the credit history of the loan holder. This can mean that new credits can not be requested at Gandalf or other micro-credit portals. It is also possible that the debt is recorded in Ferb or another similar entity.
If you can not make the payments, the best option is to contact Gandalf to find a way to regularize the situation as soon as possible. The customer service department of the portal can be contacted by phone or through www.Gandalf.es.