Borrow money directly with a mini credit
May 19, 2019
You can borrow money in different ways. The revolving credit and the personal loan are the most common variants. Directlening.com is specifically aimed at these two forms of borrowing money via the internet. Here you will find a detailed description of both options plus tips and information about borrowing money via the internet.
Take out ongoing credit
The revolving credit is a flexible form of borrowing money. You hereby agree on a maximum disposable credit with the lender. The term is not fixed and you can withdraw or repay money at any time, as long as you stay within the agreed limit.
The revolving credit can be useful when it is not clear how much money you will need. You are not tied to a certain amount. Every month you pay interest on the amount actually borrowed. The interest that you have to pay is variable in almost all cases. For more information, go to revolving credit.
A repair of your car or a new washing machine, these are things that belong but that you do not always count on and that sometimes come out bad in terms of your financial situation. You often do not know exactly what the costs will be and you do not want to borrow too much. Then a revolving credit is a suitable solution. With a revolving credit, you request a maximum disposable credit from a lender. You can then borrow money at any time up to a maximum of the agreed credit. Ultimately, you only pay interest on the part that you have withdrawn. Interim repayment is possible and is free of penalties, and it is also possible to take over repaid credit later.
- Flexible because you are not tied to a certain amount.
- Interim repayment possible.
- Repaid credit can be withdrawn.
- You only pay interest on the loan amount.
- The interest is variable and therefore the costs that you pay to repay are not clear in advance.
- There is also a danger in the possibility of taking out repaid credit again, because the loan can be extended in this way and you will continue to have debts.
Danger of a revolving credit
Because it is allowed to keep on borrowing again and again, it is very tempting to keep borrowing for small items, while this is often not necessary at all. In this way you remain stuck to the loan and the interest that you have to pay on it. Some discipline to repay the total loan is therefore required.
In contrast to the personal loan, it is permitted to repay early without penalty. This is partly because there is no fixed term for a revolving credit and the amount borrowed can vary. If you no longer need the loan, you do not have to wait until the end of the term.
Review in advance
With every loan application in the Netherlands, the relevant lender can check whether the applicant has previously taken out loans and whether these loans have been repaid on time. Depending on the result, the lender may reject or approve the application.
Take out a personal loan
The personal loan is the simplest form of borrowing money. With the personal loan, the loan amount, the term and the interest are determined when taking out the loan. In this way you know exactly where you stand in advance. Because the lender also knows what to expect in this way, the interest is often lower than with the revolving credit. For more information, see personal loan.
Are you planning to buy a new car, book a vacation, or do a renovation on your home? And do you just not have enough savings to realize this? Then a personal loan may be the solution for you. You borrow a fixed amount that you receive immediately and you repay this amount within the agreed period, at a predetermined interest rate. So you immediately know where you stand! There are numerous lenders who offer a personal loan so request different quotes and find that cheap loan.
- Clarity about your monthly charges.
- Fixed interest during the agreed period.
- Long term possible, sometimes up to 120 months.
- Immediately available the total loan amount.
- Not flexible, when it appears that you need extra money, you will have to take out a new loan.
- In the case of early repayment, a fine must be paid in most cases.
- Repaid balance cannot be withdrawn again.
It is often possible to transfer a current personal loan to a loan with another lender, for example because the interest there is a lot lower. If you are considering taking out your loan, first carefully consider what the fine will be that you have to pay with your current lender. They will charge a fine because you pay off your loan before the end of the term. So determine whether the difference in interest outweighs this fine!
It is legally established that consumers with a credit up to € 40,000 have the right to repay their loan before the end of the term. Above this amount, the loan contract will determine whether and how much can be repaid prematurely. In almost all cases, a repayment is charged on the repayment because the lender misses out on interest income.
Review in advance
With every request for a personal loan in the Netherlands, the relevant lender can check whether the applicant has previously taken out loans and whether these loans have been repaid on time. Depending on the result, the lender may reject or approve the application.