Before you borrow it is wise to look at whether you want a personal loan or revolving credit. With a personal loan, the interest is usually fixed. You cannot borrow extra money for this. If you choose to pay off the loan earlier, you often pay a fine for it. Even if you want to repay part of your loan extra, you pay an extra amount for it.
With a revolving credit you can withdraw extra money in between. There is a variable interest rate. If you want to pay off, this can be done without penalty or other consequences. You can look best at what suits you. Do you want a fixed interest rate or a variable? Do you want to pay extra in between or not?
Do you want to be able to withdraw extra money in between or not? These are all questions that you need to think carefully about. Once you have chosen a loan, you cannot go back.
The interest usually depends on the term. The least duration does not always mean the least interest. Compare this well. This is useful to know and can save you a lot of money. Also think about whether your duration is realistic.
Can you handle repaying the entire amount and interest within the term? Also consider the monthly charges. Sometimes you just need a longer duration.
Good Credit Agency
On the website of the Good Credit Company you can see very clearly how much which loan with what amount will ultimately cost you. Ideal. If you go for a personal loan with a term of 48 months and you want to borrow 2500 euros, the final amount including interest will be 3024 euros.
Then you pay 3024-2500 = 524 euros in interest. If you go for a revolving credit with a term of 41 months and you borrow 2500 euros, your final amount will be 3034 euros. You therefore pay 3034-2500 = 534 euros in interest.
Unfortunately, there is no calculation tool on the site of the loan broker to calculate the final amount. There is, however, a table with the final amount for amounts of 15,000 euros.
It also says that the revolving credit is from 4.7% interest. The personal loan is available from 5.1% interest. To calculate the exact amount for a loan of 2500 euros, you can request a quote from this site.
On a website it is stated that the revolving and the personal credit have an interest from 4.7%. Unfortunately, there are also no calculation aids here. Here too there is a table with the amounts of 25,000 and 45,000 euros. A final amount is then calculated. There is also the option to request a quote.
You can find out which lender is best for you by going to all sites and using the calculation tool there or requesting the quote. There is, of course, a different interest rate for each situation, which is why there is no cheapest or best-known lender. All these lenders do have a license from the AFM
Who is the cheapest
The comparison shows that the Good Credit Company is the most conveniently arranged amount to be repaid, so you will not be faced with any surprises. Applying for a loan of 2500 euros is simple, another advantage is that you have your money in your account within 2 days.