Borrowing 10000 euros with low-interest rates is very easy to compare with current online providers. Not that online providers, unlike banks, differ a lot from each other, but a slightly lower interest rate at 10,000 euros can still save a lot on your monthly amount. It also depends on which loan form you are going to take. A revolving credit often has a slightly higher interest rate than a personal loan.
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The general interest rate is currently historically low and loans also show a clear decrease in the interest payable. While loans such as revolving credit and personal loans have had interest rates of 13% and more in the past, nowadays this is luckily a lot lower. Another advantage is that there are many online providers. So strong competition and that is always to the advantage of the consumer. This competitive battle naturally leads to lower interest rates.
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Reds are no longer popular with the bank
Previously it was nice and easy to be red at the bank, you did not have to apply for credit and everything was automatically settled with your checking account. You paid a much too high-interest rate, but most consumers found it nice and easy. Unfortunately, banks are now also obliged to pass on the option to be in the red to the BKR in Tiel. When applying for a mortgage or loan, this amount is now also included in the application. That is why it is now becoming more interesting to suddenly apply for a loan of 10,000 euros.
Revolving credit with variable interest
In the example with a revolving credit of 10000 euros, you will see that you can take out a loan yourself online with a lower interest rate. Imagine that you would like some money but no longer want to be in the red at your bank. Then it can be a good idea to opt for revolving credit. In general, the term is 5 years (60 months), but there is the possibility to extend the credit for a period after these 5 years. By the way, it is a good idea not only to pay off the interest. Also, repay part of the principal each month, otherwise it will take too long before you get rid of it. With revolving credit, the interest is variable.
Personal loan for a major purchase
When purchasing something expensive, whether it is a car, a caravan, a television or a renovation of your house, it is best to opt for a personal loan. It should be noted that when renovating your house or renovating the garden, you cannot exceed the budget. But anyway, you have to pay a substantial amount in one go and then opt for a personal loan. You often redeem this in 5 years, whereby the interest for the entire term is fixed. So you know exactly where you stand and are completely done with it after these 5 years.
You don’t know for sure yet
If you still have doubts about whether you would be well advised to apply for a loan, or exactly which type of credit suits you, take a look at Nibud, here you will find all sorts of calculation tools that can help you on your way. If you think you are done and you are ready to apply for a loan, take a look at the overview page ‘requesting a loan’. You will find several loan forms here and you can request a free quote if you wish.