Take out ongoing credit?

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Take out ongoing credit

Take out ongoing credit

If you need some extra money for a longer period, you can take out a revolving credit. This is a loan that is suitable for people who have a recurring need for money. Exactly what a revolving credit is, what you should pay attention to when taking out a loan and many more tips you can read on Kredietverstkers.nl. 

The characteristics of a revolving credit

Are you a minimum of 21 years old and a maximum of 59 years old? Then you can choose to take out a revolving credit. This loan is often taken out by people who want to borrow flexibly, and therefore do not know exactly how much money they need. For example, do you temporarily have a lower income but do not want to make concessions, or do you want some money to cover unexpected expenses? With a revolving credit you can, if you wish, borrow up to a maximum amount. You can also withdraw amounts that have already been repaid, if necessary.

How is the interest calculated?

How is the interest calculated?

The interest that you pay with a revolving credit is variable and consists of a part of funding costs, risk premium and profit premium. The funding costs are a reimbursement that you pay for the costs that the lender must incur to purchase money. The risk premium, also known as debtor risk, is a payment that you pay for the risk that the lender takes. Therefore, based on your personal financial situation, you are classified in a certain risk class. This way, the lender can estimate how much risk they run when they grant you a loan. Finally, a piece of profit surcharge is included in the interest. Of course, lenders can influence the above factors so that interest rates remain as low as possible. That is why we have already found a number of lenders for you that currently have the lowest interest rates. Taking out a revolving credit has never been so easy!

Revolving credit in short

Revolving credit in short

  • Your credit limit is determined in advance
  • You pay the same amount to the lender every month
  • Interest rates may fall or rise in the meantime
  • Withdraw money whenever you want
  • Duration is not fixed because you can withdraw the repaid amounts in the meantime
  • Interim free repayment is possible

How your maximum credit is calculated

How your maximum credit is calculated

With a revolving credit you can borrow money up to a maximum limit that is set in advance. This limit is usually between € 2500 and € 75000. When you apply for a loan, state how much you want to borrow and provide the correct information. Based on this, your maximum credit is calculated. YOUR INCOME

The most important factor that plays a role in applying for and taking out revolving credit is of course your net income. Do you have a 0-hour contract? Then the income from this contract is unfortunately not included in the calculation. This is different for a temporary contract. That is because 70% of your income is included. This is because a temporary contract is a slightly greater risk for the lender. In addition, a 13th month is not included. The lender would like to see your payslip, so you must include this when applying for a loan. You also often have to send a copy of your account statement. 

When the lender has an overview of your income, they deduct your housing costs from this and a fixed standard for living. The amount that remains is called your ‘repayment capacity’. When you have a mortgage, 75% of your gross mortgage burden is included. With a rental home, the lender looks at your basic rent minus any housing allowance. Are you living or living at home? Then the situation is different again, lenders charge 33% of your net income. So there are a number of fixed rules for determining your borrowing capacity. In general we can state that your maximum loan amount is 50 times your borrowing capacity. For example, if your borrowing capacity is € 100, then your maximum credit is € 5000. Of course you don’t have to borrow the maximum amount, rather not even. The lower the loan, the less you ultimately pay in interest. There are also a number of specific factors that play a role in determining your credit maximum. Consider, for example, alimony that you have to pay, a second mortgage and loans that you still have outstanding.

What other types of credits are there?

There are all kinds of loans that you can take out for private purposes. Not only personal loans or revolving credit, but also a credit card, standing in red, purchase on installment and a lease car are covered by consumer credit. Are you not sure which loan suits you? Then you can request a no-obligation consultation with most lenders. A financial expert will then call you or visit you and discuss your wishes. Extensive time is then taken to map your financial situation so that you can borrow responsibly. Have you taken out a loan before, or do you have enough information to make a good decision? Then you can also take out a loan without a consultation.

Merge loan

Do you already have a loan but does it cost you a lot of money? Then it can sometimes be cheaper to merge your loan with one new loan and take out a revolving credit for this. This is for example offered by Geldshop. When you transfer your existing loans to one, you know exactly how you are financially and you have a clear overview. You also often benefit from a lower interest rate. Make a calculation on the website above to see what your options are.

The lowest interest rate

When you take out a loan for the first time, a lot of information comes to you. Ultimately, you mainly want to apply for a secure loan with good conditions. That is why you will find a number of lenders on our website that we have already selected for you. This guarantees you a reliable loan with a low interest rate. You can easily take out almost any loan, including a revolving credit, simply online. Feel free to read further on our website and then choose a lender that suits you! 

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