Are you looking for a loan with certainty? A loan where you know in advance “how long you are tied to it”? And do you want to borrow money with a fixed, low-interest rate? Then a personal loan can be a good option for you.
With a personal loan, you specify in the loan agreement what amount you borrow, what you will pay per month and what the fixed interest rate is. This interest is fixed during the entire term of the loan. So you know where you stand. In the past, the early repayment of a personal loan often involved a fine. Nowadays this actually no longer happens and you can redeem a personal loan whenever you want. Completely penalty-free.
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We give you free and non-binding advice about borrowing money. We are happy to help you find the best form of lending. And all 100% free of charge and without obligation. This allows you to make a good choice. You will receive hon and thoughtful advice from us. A credit that is easy to carry for you. Not only when you take out the loan, but also afterward.
A personal loan is gaining popularity
Did you know that this loan form has become increasingly popular in recent years? This is mainly because much has changed with this form of borrowing money. We are happy to explain the two largest and most important changes to you. In the past, you were charged if you repaid your loan early. This fine could amount to no less than 5% of the amount that you wanted to redeem. Repaying a loan with an outstanding balance of € 10,000.00 resulted in a fine of € 500.00. Nowadays this is fortunately different. With almost all providers, the penalty for early repayment of your loan no longer applies.
Borrow money more cheaply with a personal loan
Where in the past the interest on a revolving credit was higher than the interest on a personal loan, this has now been reversed. There is still a difference between the interest rate on a personal loan and revolving credit, but the difference has now become to the advantage of the loan form with the fixed interest rate and the fixed monthly installment.
Are there any disadvantages?
The benefits of the loan are clearly emphasized, and to be honest, there are quite a few. Nevertheless, we also notice in practice that there are some disadvantages to the loan. For example, some consumers experience that it is not pleased that there are no interim recording options. Once you have repaid you cannot re-enter these amounts. In addition, there is another drawback that little is discussed.
If you take out a personal loan, your loan will be registered with the BKR. With revolving credit, the limit of your loan is registered with your BKR. With a personal loan, this is different. Your credit is then registered as follows, not only is your limit recorded, but also the interest payable during the term of your loan. A much higher amount is therefore registered than with revolving credit.
Most advised form of borrowing money
In the past, mainly revolving credit was offered. A lot has changed in this. In the past, many forms of borrowing money were offered with special forms of repayment. For example, revolving credit was advised whereby you only paid the interest on the loan. In addition, an investment product was then advised to repay your loan. Fortunately, this no longer happens today. In fact, the banks no longer offer interest-only loans.
In the past, the interest in the personal loan was also higher than with revolving credit. Here too there has been an important change. The interest on the personal loan is now often lower than with revolving credit. The difference can be as much as 0.4%!
But why is the loan most advised? You may think that this is only due to the lower interest rates. This is certainly not the case. The loan is most advised because there are a certain duration and a fixed reduction. This means you always know where you stand.