Consumer credit is credit for consumers to make a specific expense. Loans to companies and mortgages, therefore, do not fall under consumer credit, but most other forms of lending do. Consumer credit must be responsible and match your borrowing goal and your financial possibilities.
The best-known forms of consumer credit are:
Personal loan
You borrow an amount at an interest rate that is fixed for the entire term. You repay this loan within a set number of months. So you know exactly how much you have lost per month and how long you have been paying off. You cannot withdraw the amounts that you repay on your Personal Loan. It is now possible to make extra repayments on your Personal construction Loan proceeds without penalty. Then the duration will be shorter. At Krediet.nl you can be advised about a Personal Loan and take out immediately.
Revolving credit
With a Revolving Credit, you get a credit limit: you can withdraw money up to that amount. Every month you pay a fixed amount in interest and repayment, usually 2% of the credit limit. Interest is only charged on the amount withdrawn. The interest is also not fixed, but is variable and can therefore be different every month. Repaid amounts can be withdrawn immediately and you can always make additional repayments without penalty. At Krediet.nl you can be advised about a Revolving Credit and take out this immediately.
standing red
Your bank allows you to have a negative balance up to a certain amount, sometimes for a limited time. You are then red. You pay interest on this overdraft. Because that interest can rise to 14%, being in the red is often an expensive form of credit. A Revolving Credit is then cheaper, while you have the same benefits. Request a quote from Krediet.nl and see what your advantage is.
credit card
With a credit card, you can pay up to a certain amount in many shops, hotels, and restaurants. You can also use a credit card for online payment. The amounts will be debited from your account within a few weeks. But if the amount cannot be debited, the credit card charges high interest. If you have a lot of money open on your credit card, it is better to opt for a Personal Loan or a Revolving Credit with which you repay that amount in one go. Because you then benefit from a lower interest rate, you save considerably on your costs.
Buy on installment
You want to buy a plasma TV or a washing machine, but you don’t have enough money. The store can then give you the option to buy the product in installments. You pay an advance, usually 15% of the purchase amount. A fixed amount is then withdrawn from your account every month until the purchase is paid off. It seems like an easy way to make a specific purchase. But you do pay a price for it because the interest is often high. With a Personal Loan you are cheaper. You don’t have to wait long for your money. If you take out a Personal Loan with Krediet.nl, it can be credited to your account quickly.
Mail order or shipping credit
It seems so easy and pleasant. Ordering something from a mail order company that you pay in installments. But you often pay a high interest rate. With a Personal Loan or a Revolving Credit you will be cheaper.
What is consumer credit most commonly used for?
- Consumer
goods You want to buy something, but you don’t have the money (yet). You can then wait until you have collected the required amount. But you can also take out a loan. Most consumer loans are taken out for the purchase of a car.
Renovation or making the home more sustainable
A new kitchen, bathroom or conservatory can be realized quickly with consumer credit. We also like to take out consumer credit in the Netherlands for solar panels, double glazing and insulation of the home.
Pay off debts
A rent arrears, a few bills not paid and or the premium for your health insurance that has not been written off. It’s not nice to be in debt. Pay them off in one go with a Personal Loan and you have control over your finances again. Also very suitable for paying off your purchases at a mail order company in one go.
Transferring
a loan If you already have a loan, but you find it too expensive, you can choose another provider. You then repay your old loan in one go with your new loan. But you are better off because your new loan has better conditions, for example a lower interest rate. The new lender will check whether you are eligible for the credit.
Merging
loans You have a number of loans that were all taken out at different times and with different parties. For example, a Personal Loan for your car, a computer that you pay off in installments and are occasionally overdrawn. By merging the different loans, you can save on costs. With one loan you also have a better overview of your finances.
What should you pay attention to with a consumer credit?
It is important that the loan you take out matches your loan goal and your personal and financial situation. That is why a lender will always ask about it. In addition, the Credit Registration Bureau (BKR) will check whether you have other credits and whether you have (had) problems with them. But you also have to feel good about the loan yourself. No less than 44% of consumers therefore first ask for advice. With us you will receive free and non-binding advice about the loan.
What are the costs of a consumer credit?
When you take out a loan, you pay interest. That’s the credit fee. The maximum credit payment in the Netherlands is 14% per year. The interest can therefore be lower, but never higher than 14%.
The lender may not charge additional costs such as a guarantee. And an advisor is not allowed to charge any form of costs for taking out a consumer credit. Costs for the application or administration costs are therefore not allowed. The lender must also be clear about the costs. We naturally follow these rules and also look for a loan that works out well for you.
Looking for a consumer credit? Let us advise you.
you can always take out responsible consumer credit at the most favorable conditions and interest. You will receive advice and clarity about the costs so that you are not surprised afterwards.
