Do you currently have one or more loans? And do you want to save a lot of money quickly? Then it can be a very good idea to combine your loans into one advantageous credit. Not only is the fact that the more you borrow, the lower the interest. You also get an extra overview of your current loans. So transferring a loan can be a good idea in several ways. It can easily save you a lot of time and money. Working on your money matters, and certainly with your loans, you can make huge savings. That is why we are happy to provide you with our honest and objective information about borrowing money.
Merging loans, borrowing more is cheaper.
Do you currently have more than one loan? And note, a overdraft on your payment account, credit card, monthly payments at Across Lender, Spin Lender or Lite Lender are also seen as a loan. Then there is a good chance that combining the different loans can give you a great advantage. Most banks work with “graduated” interest. This means, the more you borrow, the lower the interest you will pay. In fact, there is no bank that charges the same interest for a loan of $ 2,500.00 as for a loan of $ 25,000. If we highlight Nationale Nederlanden as an example here, you can see that they charge interest of 10.5% for a loan of $ 2,500. While a loan of $ 25,000 has an interest of 4.7%.
So if you have many small loans, there is a good chance that you will pay too much to these different providers.
Transfer loan to a personal loan
If you can no longer resist the temptation to make withdrawals from your revolving credit , and you really want to reduce your credit, a personal loan can be the solution for you. With a personal loan you have a fixed interest, a fixed monthly term. And most importantly also a fixed term. Because you can no longer make withdrawals from your credit, you can be sure that you will also repay your loan in full over time. The only drawback of the personal loan is that if you have a new need for money, you have to take out a new loan again. After all, you cannot make withdrawals from your credit.
Transfer loan to revolving credit
If you want to transfer your current loans to a revolving credit, because you are looking for flexibility, this is of course also possible. It also makes no difference whether you are looking for a personal loan or a revolving credit. Taking out both loan forms costs you the same (nothing, except for your time). And you can start saving money right away. A revolving credit can be the ideal form of borrowing money for you if you are looking for a loan with flexibility. After all, you have the options to make additional deposits without penalty. And if you wish, you can also withdraw from your credit up to your credit limit. Unlike the personal loan, the revolving credit also has a variable interest rate. Interest can therefore rise and fall.
Transfer loan? Borrow money cheaply!
Are you going to transfer a loan or combine loans? Always look at your total costs. See what you still have to pay in total for your current loans, and see what your new loan will still cost you. This way you can be sure that the loan transfer is, and will continue to be, to borrow money cheaply.