So many providers and so many forms. It is an unclear forest. What are the loans you can choose from and what are you most profitable from? Hereby an overview. highriverhighlandgames.com fleshes this out

A revolving credit is a loan form in which you can always borrow up to a maximum amount. The amount that you can borrow depends on your income and can amount to a ton. With a revolving credit you always have access to that money. Some characteristics of the revolving credit:

  • The interest on the revolving credit is variable.
  • You can repay the loan in one go without penalty.
  • Easily switch to another lender.

Personal loan

Personal loan

A personal loan is the traditional loan that everyone knows. You agree on a certain amount including a fixed interest rate. You get all the money deposited directly into your account, and you immediately start paying off the following month. Early repayment is often not possible without paying a ‘fine’. The interest is fixed, but you always know where you stand.

Are in red

Are in red

It is the most popular form of borrowing: red in the bank account. But it is also one of the most expensive forms of borrowing money. Banks usually charge maximum interest for the amount that you are red (14 percent). It is true that the amount that you pay is usually not higher than a few thousand euros, which depends on your income. If you are able to take out a revolving credit, then that is often a lot cheaper.

Borrow Money With Collateral

Borrow Money With Collateral

A widely used but fairly unknown way of borrowing money is borrowing money with collateral. This form of borrowing money has the least risk. You borrow money by giving something as collateral. After an agreed period you return the money including the agreed interest in exchange for your collateral. This is possible with jewelery but also with game computers or telephones.

Borrow money for car

Borrow money for car

There are also loans to buy a car. You can opt for a personal loan or revolving credit, but there is also a special loan form that makes buying a car easy. This is the lease purchase. With this type of loan, the car dealer or the lender remains the owner of the car until you have repaid the full amount. But this may have a major disadvantage.

If you cannot pay the monthly installment, and you have not yet paid 75% of the amount due, you have lost your car. If the income from the car is not enough to pay off your debt, you still have to pay the rest.

Borrow money with low income

Borrow money with low income

To apply for a revolving credit or personal loan, you usually have to have a fixed income of at least 120% of the minimum income. If you have less income, you can possibly go to a social bank. They also offer personal loans and some even ongoing loans. You can also go here to borrow money with a benefit

Borrowing private money

Borrowing private money

You can also use a new way of borrowing money: peer to peer. Or you can borrow money from private individuals via special online platforms. These platforms are now also increasing in the Netherlands. You can register here for a loan. Once your application has been approved, it will be posted online. As soon as your desired loan amount is credited, you will receive the loan.

Loan loan

Loan loan

You can also refuse expensive loans. This means that you can exchange one loan for another. This is mainly done with a revolving credit as soon as a cheaper one comes on the market. You can also transfer a personal loan, but only after paying a fine. Whether this is the right choice for you depends on whether it is always worth calculating.

Borrow money quickly

Borrow money quickly

Borrowing money quickly is easiest if you already have a loan and can do something about it. That is easy if you can be in the red, if you have a credit card or if you already have a revolving credit. If that is not the case, you can often take out a new loan within a day or even faster.

Mini loans

The mini loan is synonymous with borrowing money without papers. With a number of providers you only have to fill in an online form and you have a loan. However, the costs are often very high. The credit providers charge extra costs in addition to the interest, for example to pay the loan directly. They call these costs warranty costs and often go through a third party (in order to get out of the rules).

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