Mini loans can become a trap

Munich (the needle). High inflation and rising energy prices have put many people in financial difficulty. Financial companies exploit this unscrupulously, as various offers on the Internet show. “Mini loan now with 0% interest”, and the “quick and simple” one, starting from 300 euros as an “introductory offer”, says a supplier for example. What sounds tempting, however, can be darned expensive for borrowers.

Polls show that nearly a third of Germans have no savings. However, if the bills need to be paid or the house bank doesn’t increase the overdraft further, some consumers turn to mini-loans to solve their financial problems, at least temporarily.