It seems like an easy task, borrowing money with a loan that suits you. But what do you have to take into account, what are you going to use the money for and what kind of period do you want to repay this for?
Perhaps even more important is the question of what interest you have in mind, while interest may be historically low, but compared to neighboring countries, such as Belgium, it is still on the high side. So it remains important, certainly with a loan that you have been committed to for many years, to take a good look at this interest rate.
At first glance, a percentage more or less does not seem that much, but in several years this can be quite a problem in your wallet and often comes down to paying tens of euros more or less per month.
Borrow money with a loan that suits you
Let’s start by asking what you need the money for. Are you going to buy something expensive, are you going to redecorate or redecorate your house, or do you just want some money in the back of an emergency.
For all these reasons there is a suitable credit where one credit works out more expensive than the other. But because there are different forms of credit, they each have their own advantages and disadvantages.
It may also be that you want to borrow a small amount for a short period, here comes a completely different loan. Let us go through them step by step so that at the end you have a clear picture of a loan that suits you.
You are going to buy something expensive
Something expensive can be anything, a car, a television, a camper or caravan, etc. In any case, it is something that has a high price and that you have to pay in one go.
For this you can opt for a personal loan because you get the amount paid into your account in one go and you are sure for the entire period of the amount that you have to pay back each month, and the interest rate does not change during the entire term.
You can apply for a personal loan from as little as 2,500 euros, but a more usual amount is around 10,000 euros, depending on your credit requirement. A usual term for a personal loan depends on the circumstances, but usually this is 5 years.
You would like some money
You do not necessarily need money now, but you are happy that in the event of an emergency you immediately have some money at your disposal, or if you go on holiday and you are short of money, you can opt for a revolving credit.
This money loan has the advantage that you will only pay interest when you actually start taking out your loan amount, in other words, you do not have to pay interest if you are not yet going to use the revolving credit.
If you suddenly need money for whatever reason, you simply transfer what you need to your own private account. However, the interest is variable and the term does not have to be fixed.
Quickly put some money in your account
Now we are not going to talk about large amounts, but rather about a relatively low amount. If you have a regular income of 900 euros net per month you can opt for a mini loan. This mini credit is actually an advance on your salary and must also be repaid quickly.
You can easily request this online without many difficult contracts and the minimum amount you can request is 100 euros with a maximum of 800 euros. No BKR assessment is done here, so if you meet the income requirement, you soon have a chance of approval. You must repay the mini loan within a maximum of 45 days.
But I want to buy a house
Now it becomes exciting, because you are about to borrow a huge amount. It is important that you request multiple quotes on paper so that you can place them next to each other at home for a good comparison.
A quote does not oblige you to anything and if you do not take any action, it expires and you are not committed to anything. There are many factors to take into account when buying a house, that is not only the interest, but also mandatory insurance such as a life insurance policy where you can save tens of euros a month by looking around the internet.
Some mortgage providers try to have you take out insurance with them at the same time. Often you pay more costs than if you yourself go to Google death insurance.