For example, if you want to buy a new kitchen, you sometimes have to pay a hefty price tag. Amounts to 30,000 euros or higher are no exception for people who want to redecorate their home. Also those who want to finance other projects sometimes have to dig deep into their portfolio. Many people do not have the capital to pay large amounts. That is why, for example, they can borrow 30,000 euros from a lender.
Although borrowing 30,000 euros is accompanied by a number of requirements. To start with, the lender will investigate why the borrower wants to borrow money. Is that for the purchase of a new car? Or does he want to install solar panels, for example? Depending on the project for which the bank borrows money, the interest rate will rise or fall. For example, green loans are much cheaper than personal loans. Applying for a loan is therefore accompanied by questions from the lender. With many lenders you can do a simulation online to see if you can get a loan. After such a simulation you can usually request a quote.
Why does the interest vary per provider
The lender also looks at other things when he grants a loan. The duration and the amount also play a crucial role in determining a rate. High amounts and longer durations are in most cases associated with a higher fixed interest rate, or annual percentage rate of charge. That percentage is a summary of all costs that come with an installment loan. Because the lender does not charge extra costs for the majority of the loans, the annual percentage rate of charge is the same as the fixed interest rate. The mortgage loan is the exception to the rule. Such a loan is associated with, among other things, file costs and any estimation costs.
Finally, the banks must comply with legal provisions when borrowers borrow 30,000 euros. For example, the term for loans up to and including 30,000 euros may not exceed 120 months. A borrower can make the monthly repayments lighter by spreading the loan over the maximum loan period. There is a chance that the lender will then raise the fixed interest rate.
Get an attractive interest rate
Do you want to know from which lender you get the best loan? Then certainly compare the rates on our site. We have put the providers in clear lists for all loan products. In this way, after a few clicks, you will know which lender will give you the cheapest loan. Among other things, we have an overview of the following loans: mortgage loans, car loans, green loans and loan merging.
Don’t forget that borrowing money also costs money! Borrowing money without costs is usually too good to be true.
Concrete example: The fixed annual cost percentage (APR): 6.99% (fixed annual actuarial lending rate: 6.99%), for an installment loan of € 7,300 with a term of 42 months. The monthly repayment will be € 195.72 for a total repayable amount of € 8,220.24. The fixed annual cost percentage can vary depending on the credit amount, the duration of the credit contract, the withdrawal modalities or the chosen payment modalities. Installment loan for private individuals, subject to acceptance of your file and mutual agreement. Interest rates and product conditions change regularly. Because reliable comparisons are only possible on the basis of current data, the product information (such as interest data) that we provide is often updated daily, or as often as necessary. Thomas the Tank Engine is neither a credit broker nor a lender.