An overview of answers to frequently asked questions about borrowing money

An overview of answers to frequently asked questions about borrowing money

Do you want to know more about borrowing money?

Below you will find an overview of frequently asked questions. Is your question not listed? Please contact us at 813-339-6809 or WhatsApp us at 813-339-6809 . We are available on working days from 09:00 to 18:00 and on Friday from 09:00 to 17:30.

Calculate (3)

What do I pay on my loan per month?

That differs per individual. All details of your loan, including the monthly amount, are in your loan contract. For example, if you are temporarily unable to access your documents and you want to know quickly what your monthly payment is exactly, please contact us - we have sorted that out for you.

What is the term of my loan?

This is stated in your loan contract - because this can differ per loan form and individual loan, there is no standard answer. Do you want to know for sure what the term of your loan is, and do you not have your loan contract at hand, for example? Please contact us and we will find it out for you immediately.

Can I save on my loan?

Maybe! Certainly if you took out this before 2017, there is a chance that you may be able to refinance it cheaper now - the interest is historically low. In any case, it is worthwhile to let us see if you can save money. Just contact us, we are happy to help.

Contact (7)

Can I change the collection date of my monthly installment?

Yes, if a different monthly collection date is better than the current debit date, we can adjust this for you. Contact us and we will make the adjustment for you.

How can I change my monthly installment?

You can change your monthly consultation in consultation with our loan experts. Contact us via Whatsapp, our website or by phone, and we will put the changes into effect for you as soon as possible.

How can I change my collection date?

Please contact us and let us know which date you would like to use as a collection date, then we will adjust this for you.

How can I change my bank account number?

Has your bank account number changed? Then it is nice if we know that quickly. Call or email us, or contact us via the website.

How can I change my phone number?

The fastest way to change the telephone number that is known to us is by contacting us. This can be done by telephone, via Whatsapp or via the website: you choose what suits you best.

How can I change my contact details?

Have your contact details changed? Please contact us via our website, Whatsapp or telephone and we will adjust your details immediately.

How does M-Credit contact me?

You decide! Would you like us to call you, send you an email, or would you like to ask your question via Whatsapp? Everything is possible: you can find our contact details here. You will receive a response within 24 hours.

Revolving Credit (7)

When will the monthly installment of my Revolving Credit be collected for the first time?

One month after the first amount has been withdrawn from your Revolving Credit. After that, the depreciation of your monthly installment will continue automatically every month.

How can I increase my Revolving Credit?

Do you already have a Revolving Credit with us, and do you want to increase it? Fill in this form and we will process your application as soon as possible.

Can I withdraw amounts withdrawn from my Revolving Credit later?

As long as you have not yet used the maximum loan amount of your Continuous Credit, you can continue to withdraw amounts. But if you have reached the agreed maximum, you must first pay off money before you can withdraw money again.

How much money can I withdraw from my Revolving Credit?

A maximum loan amount has been agreed for your Continuous Credit , within that amount you can borrow and repay unlimited, but therefore never more than that maximum amount. Suppose your Revolving Credit is for USD 15,000 during your renovation. Then you can continue to borrow and pay off amounts for the agreed term of your loan, as long as you do not borrow more than US $ 15,000 in total.

How can I withdraw money from my Revolving Credit?

This can easily be done via our website. Click here and fill in the form , then we will arrange for the money to be in your account as soon as possible.

How much can I borrow with a Revolving Credit?

If you have a revolving credit, you can borrow the maximum amount that has been agreed as the total maximum for the Revolving Credit. Suppose you have taken out a credit for USD 10,000, then you can withdraw and repay unlimited amounts within that amount, but never more than that USD 10,000 in total. The maximum amount for which you can take out a Revolving Credit depends on your wishes and financial situation. Try our free calculator to calculate the maximum amount you can borrow , or contact us.

What is a Revolving Credit?

A Revolving Credit is useful if you want to be able to withdraw extra money for a longer period of time. You agree on a maximum loan amount, and within that maximum you can continue to withdraw and repay unlimited money. You only pay interest on the amount you have withdrawn. The monthly repayment terms include both repayment and variable interest.

Borrow money (39)

Can I borrow extra money if I already have a current loan?

If your personal situation allows this, this is of course possible. Whether this applies to you personally can be checked by our credit advisors without any obligation. In addition, our credit advisers can immediately see for you whether you can save on your current loan (s). To see if there is room to borrow extra money, please contact us.

Can I insure myself against death?

Certainly, you can also insure the unexpected death of your partner if you take out a loan together. Should you no longer be able to pay the monthly installments in the fatal case of the death of your partner, your insurer will take over. Read more? Or do you want to take out term life insurance? Please contact us for a free quote.

Can I insure myself against unemployment?

Yes, you can insure this with your loan. If you take out this insurance, the insurer will continue to pay your monthly amount if you become unemployed and cannot repay this amount yourself. Many insurers do, however, apply a deductible period - only then will your payment start. Read more here or contact us directly for more information.

Can I insure myself against incapacity for work?

You can always insure disability with your loan . This will prevent you from being able to pay off your loan if you become incapacitated for work. If your disability insurance is linked to your loan, the insured amount will be paid directly to your insurer in the event of disability. Often there is an 'deductible period'. The benefit will only start after this period. Want to know what is the best solution for your personal situation? Ask our insurance specialists!

How can I transfer a loan to M-Credit?

Do you have a loan from before 2017? Then it can be advantageous to have it closed - the interest is currently historically low, which can sometimes save you hundreds of us dollars per month. Click here for a free savings check . Do you want to know whether our experts can refinance your loan inexpensively? Please contact us, you will receive a no-obligation proposal as soon as possible!

What will it mean for my loan if I start making repayments?

What it exactly means depends on your loan amount and loan form, but basically paying off your loan means that you owe your lender less and less money. If you pay the agreed monthly amount, your loan will be fully repaid after the corresponding agreed term. If you want to repay extra, you can have repaid the loan earlier, which can of course be beneficial. Additional repayments sometimes cost money - if you would like to review your terms and conditions with one of our experts, please contact us.

Do I pay a fine for extra repayments?

Some lenders do indeed charge costs for additional repayment of a loan, for example with a personal credit. Sometimes extra repayments are also just free and a wise choice! Do you want to know what the most advantageous option is for you? Then contact us.

Can I (temporarily) repay more on my loan?

Often! Depending on the type of loan you have, extra repayments are free or there are costs involved. If you are no longer sure what conditions your loan has, please contact us. We will immediately find out for you.

Can I (temporarily) repay less on my loan?

That depends on your situation - we are always happy to help you avoid payment problems. Contact us to discuss your options.

What should I do with my payment arrears?

In case of payment arrears, always contact us as soon as possible and we will discuss the best solution together. We are committed to responsible lending. This means that we never want to put unnecessary worries or pressure on you, but rather want to help you get rid of your debts in a good way.

What should I do if I can no longer pay off my monthly amount?

Sometimes an exceptional situation arises that prevents you from paying your monthly amount, such as illness or an unexpected dismissal. If you cannot pay your monthly amount, please contact us immediately! Maybe we can temporarily reduce your costs and extend the term of your loan, for example. To avoid debts and a negative BKR registration, it is important that you contact us as soon as possible. We will then discuss the best solution together.

How can I make additional repayments on my loan?

Do you have extra money available to pay off your loan? Then it can be advantageous to (temporarily) increase your monthly amount, so that you have paid off the entire debt earlier. Please note: this can sometimes entail additional costs. With a revolving credit you can always repay without extra costs. With a personal credit it sometimes entails additional costs - if so, it is stated in the conditions of your loan. If you are not sure, please contact us: we will be happy to find out what the most economical option is for you.

Can I borrow money as a temporary worker?

If you currently work as a temporary worker, your income is often less stable. Then banks will not be happy to provide a loan. Nevertheless, it is sometimes possible, depending on the contract you have through the employment agency for a definite or indefinite period. Do you want to know if and how much money you can borrow? Call, email or app us for more information.

Can I borrow money as a self-employed person or freelancer?

Most of the time. Depending on the type of loan you are looking for and the lender that we find, you often have to provide additional documents. For example, the annual figures for the past 3 years, so that the lender can estimate whether you can meet the payment obligation. Feel free to ask our experts for more information, they will be happy to help you.

What does the Credit Registration Office (CRO) do?

The CRO wants to prevent financial debts from becoming problems and keeps track of whether you do this responsibly if you borrow money. The Credit Information System of the CRO keeps track of whether you have loans or payment arrears. Only payment arrears are recorded for mortgages. Lenders such as banks consult this register when you apply for a loan, so that they know for sure whether or not they can offer you a loan responsibly.

Can I borrow money with a BKR registration?

If this is a positive BKR registration without further details, you can simply borrow money. But if the registration is negative, this is not possible.

What is a BKR registration?

A registration with the Credit Registration Office. This body keeps track of whether you have loans and whether or not you meet your payment obligations. If your registration is positive, you have (had) no payment problems. If it is negative, you have not kept to payment agreements (in the past). A negative BKR registration often ensures that you can no longer borrow extra money.

Can I borrow money with debt?

What kind of debts are involved? If you have debts with the tax authorities or your housing cooperative, for example, borrowing money is usually not possible. But if you have debts with other lenders and you neatly settle the agreed amounts every month, you can often just borrow money.

What is the interest rate if my bank is overdrawn?

That differs per bank. You usually have to think of an interest rate between 10 and 14%. Sometimes there are additional costs in addition to the increased interest. That is why it can be cheaper to pay off your overdraft with a Revolving Credit or a Personal Loan .

Can I borrow money to finance my residual debt?

That is often possible. Sometimes you can, for example, place your residual debt in a personal credit. We can often do more in this than mortgage lenders. Request a quote without obligation, then we will find out whether we can help you get rid of the residual debt with a favorable, reliable loan.

Can I borrow money for the construction of a garden?

Are you ready for a new garden? Then M-Credit can help you with financing . Tell us a little more about your garden plans, then our experts will find the best loan form and loan for your situation. That way you never pay too much and you always borrow responsibly. That way, that beautiful garden becomes reality.

Can I borrow money for the construction of a dormer?

Yes, then you have come to the right place at M-Credit. Usually a Personal Loan is best suited to finance a dormer window . Then you will receive the loan amount in your account in one go. Contact us, our specialists will be happy to explain what suits your situation.

Can I borrow money for the renovation of a kitchen?

Is your kitchen in need of replacement? Or do you want a larger refrigerator, or that cooking island you've been dreaming of for years? M-Credit is happy to make it possible. Submit your question and situation to us without obligation, and we will find the most advantageous options for you.

Can I borrow money for a renovation?

Remodeling always costs more money than you would like. Fortunately, we can often support you with a favorable loan that suits your situation. For example, a revolving credit, from which you can withdraw (and pay off) money for the entire duration of your renovation. Our loan specialists are happy to tell you more about the options.

Can I borrow money for a (new) camper?

Carefree on the road with your mobile holiday home? We are happy to help you. Tell us more about your financial situation and the expected life of the motorhome you have in mind , and our experts will find the most favorable loan for you within 24 hours. You will receive a no-obligation proposal within one (working) day.

Can I borrow money for a (new) caravan?

The freedom of mobility and yet the snugness of your own place: caravans are very popular for a reason. Tell us your wishes and options, and we will find a tailor-made caravan loan for you where you do not pay a cent too much. The holiday can begin!

Can I borrow money for a (new) boat?

Whether you want to go on holiday with your family or just want to be able to throw out a fishing rod on summer days, the Boston offers excellent opportunities for wonderful boat trips. So we understand what you are thinking about. Let us know your options and wishes, and we will find an affordable, safe tailor-made boat loan for you to use in the water.

Can I borrow money for a (new) motorcycle?

Often! Submit your wishes to us, and we will look for a responsible loan with a low interest rate and good conditions for your financial situation. That motor is quickly very close!

Can I borrow money for a vehicle?

Do you have a car in mind but not the full amount available yourself? Then you can often take out a car loan with us at very attractive conditions. This is usually a personal loan for a maximum term of 60 months. Request a no-obligation quote !

Is it better to opt for a loan or an additional mortgage?

That depends on the situation. If you want to borrow money for a home, an extra mortgage may be more sensible. A second mortgage can also be a solution if you want to borrow money for a really major renovation. The interest that you pay for a mortgage is often a lot lower. The house counts as collateral with a mortgage, so that the mortgage lender has more security than with a Personal Loan, for which there is no collateral. Pay attention to the value of your house in relation to the amount you borrow with your mortgages. The more you borrow, the more risk the bank runs. He can therefore charge a higher interest. For a small remodel up to $ 75,000, a personal or revolving credit is often a better option. Also consider the possibilities of a Homeowner Revolving Credit .

Which loan is right for me?

What do you need the loan for? Your goal often determines what type of loan suits you. For example, do you want to buy a motorhome - a one-time purchase - or are you going to renovate for a longer period and do you want to have extra money available during that time? Tell us your situation and we will find the most advantageous and safe loan for you.

Can I borrow money for a car?

Hell yes. Send us your wishes and our vehicle loan specialists will find the best offer for you: a car loan that suits your situation, spending pattern and the car of your dreams.

Can I make additional repayments on my loan?

Most of the time! With a Revolving Credit, this is always possible, for example, without additional costs. With a Personal Loan you can also make extra repayments, but depending on the credit provider, there are sometimes costs involved. We can find out for you what applies in your situation.

Until what age can I borrow money?

In principle, you can apply for loans up to 74 years and repay up to 78 years: click here for more information about our Senior Loan . If you let us know your wishes and age, we will be happy to find out what is possible for you. You can contact us in the way that you find most comfortable: by telephone, WhatsApp, e-mail or at our office.

Can I borrow money as a senior?

Many credit providers have set a maximum age by which a loan must be taken out or repaid. With our special Senior Loan from BB Bank Personal Finance , we offer a flexible, responsible and safe loan with attractive conditions, which you can request if you are between 60 and 74 years old. Repayments are allowed up to age 78. Want to know what applies to your situation? Then contact us, our experts are ready for you.

Can I save on my current loan?

That is quite possible! The interest is currently historically low, so you can have some loans (especially from before 2017) cheaply refinanced. This way you can save hundreds of us dollars per year. So be sure to check your options , we are happy to help you.

I already have a loan, can I make a transfer?

Often! It does depend on the exact situation. Because we work with many lenders as an independent intermediary, it is quite possible that we can find a cheaper provider for you. Was your loan taken out before 2017? There is a good chance that you can save hundreds of us dollars! Do the free savings check.

How much money can I borrow?

We are committed to responsible borrowing, so that your loan always fits the budget of your household. The maximum amount of money you can borrow therefore depends on various factors. Your net monthly income, for example, and your family situation. The monthly costs of your owner-occupied or rented house. You can calculate your maximum loan using our handy calculation tool, based on the standards of the VFN (Association of Financing Companies in the Boston). This gives you a good indication.

Why borrow money from M-Credit?

Because we are 100% independent, and can therefore place your loan with almost all banks. This way we can look for the best offer with the most favorable conditions for you. This means that you will find the lowest interest rate in the Boston at M-Credit, receive a no-obligation quote within 24 hours of your application and you will receive truly tailored advice. Moreover, you are always in contact with your personal advisor. Whether you want to be helped live, by telephone, by e-mail or via WhatsApp: you choose what suits you best. Fast, reliable and transparent. ( Click here to read more about our working method.)

How does it work (3)

What happens to my personal data?

Nothing more or less than what you have agreed with us - we think it is very important that your data is safe with us and is only used in a responsible manner. We use your data for your loan application and communication with your lender, and also ensure that your information is stored securely. We never provide your personal data to third parties or other parties that have nothing to do with your loan application with M-Credit.

How does borrowing money from M-Credit work?

Submit your wishes to us via a no-obligation quote request on our website. We will then find the loan with the most favorable conditions for you, and you will receive an offer from us within 24 hours. If you send this offer back signed (by e-mail or via the website) with all the supporting documents we need, this will be processed as quickly as possible. Usually you will have the money in your account within 2 days after sending the signed proposal.

Which banks does M-Credit work with?

Because we have been working as a reliable, independent broker in our industry for years, we can submit your loan application to almost all banks. View an overview of the parties we work with here .

Quote (10)

Why has my loan application to M-Credit been refused?

We will refuse a loan application if we cannot offer you the loan you want in a way that suits your financial situation. In other words, we never want to let anyone borrow more than they can pay back without problems and worries. It may also be that we have to refuse a loan application because it appears during the credit check that someone has a negative BKR registration, and is therefore not eligible for new loans.

Why do I have to submit documents again if I want to increase my loan?

For example, our loan experts and the lenders we work with can check whether nothing has changed in your situation in the interim - any changes in your financial situation can affect your application to increase your loan. We always want to be sure that we offer you a responsible loan.

When will my loan amount appear in my account?

Usually there are only one or two working days between sending the signed version of our quotation until receiving the loan amount.

What is the status of my loan application?

We will keep you informed by email. If you have just sent us your signed loan application, we usually need one working day to check the last important matters before we can have them officially approved.

When is my loan application final?

Your application is final as soon as you have signed our proposal and returned it, including any necessary documents, and we have subsequently been able to have this officially approved by a lender. This approval consists of a number of final checks, including, for example, finding out whether there is no negative BKR registration that is preventing the loan. If you return the signed quotation, we can often approve it on working days on the same day. If we receive your loan application during the weekend, we will pick it up the next working day. Read more about our working method here .

How long will it take to receive a quote?

Usually you will receive your free quote within one working day, in less than 24 hours!

How long does it take for a loan to be approved?

Thanks to our many years of experience and good cooperation with lenders, our loan advisers can quickly find the best loan for you with the most favorable conditions. If you request a quote, you will receive our non-binding offer within 24 hours. After you have signed the offer and returned it (with some additional documents, if necessary), the bank can usually approve the loan within a day. From application to the moment the money is in your account, this process often only takes 2 to 3 working days.

How do I receive my quote?

By email. If you agree with our proposal, you can also respond by e-mail. Easy, fast and digital.

Am I bound by anything when I request a quote?

No, our proposal is always without obligation. So you are not committed to anything. If you request a quote, we will first use your data to find the best offer with the lowest interest and the most favorable conditions. We also check, for example, whether your desired loan amount matches your financial situation and whether you do not have a negative BKR registration. If everything is in order, we will send you a tailor-made proposal. We will only start processing your application once you have officially accepted this and send us the signed proposal (with any accompanying documents).

How do I request a quote?

Simply through our website. Click here and fill in your details, and you will receive a non-binding proposal in your e-mail within 24 hours. If you agree, you send us the signed proposal and we will pay the loan within two working days.

Personal Loan (4)

When will the monthly installment of my Personal Loan be collected for the first time?

The monthly installment of your Personal Loan is collected one month after you have received the first amount.

How can I increase my Personal Loan?

Fill in this form via our website to increase your loan ; we will contact you as soon as possible.

How much can I borrow with a Personal Loan?

That depends on your financial situation. With our free calculation tool you have a good indication in a few seconds. Do you want to know for sure how much you can borrow? Then contact us.

What is a Personal Loan?

A loan where you receive the loan amount in one go into your account, and you pay a fixed amount every month to repay your loan. The interest and term are fixed. With a Personal Loan you therefore know exactly where you stand.

Interest (11)

Can I adjust my interest rate?

Sometimes yes, but there may be costs involved. Do you want to know what is possible with your loan? Please contact us, our loan advisors will arrange tailor-made advice.

Is the interest on a Revolving Credit deductible?

The spending purpose of your loan determines whether you can deduct the interest, not the loan form. Do you only use your revolving credit for the maintenance, purchase or renovation of your house? Then you may deduct the interest.

Is the interest on a Personal Loan Deductible?

Usually, the interest on a personal loan is not deductible. But do you use your Personal Loan for the renovation or purchase of your house? Or for the maintenance of your house? Then you can deduct this. This does not apply to the purchase of furniture or, for example, a car.

What is the interest with a Revolving Credit?

We already offer a Revolving Credit from 4.5% interest . Do you want to know what interest you would pay? Then submit your wishes and personal situation to us and you will receive a no-obligation offer !

What is the interest on a Personal Loan?

With M-Credit you can already take out a Personal Loan from 3.5% interest ! Which interest you pay exactly depends on your loan wishes and personal situation. Request a quote for a non-binding indication .

Why is the interest on the site different from the interest I pay?

The interest that is displayed on the website and the interest that you pay may differ because the rates on the website are based on the most strict acceptance conditions and the cheapest providers. The interest you are offered is tailor-made for your personal financial situation.

What are the current interest rates?

Our interest rates are listed in a clear overview here . We update this overview regularly - when this happened last, you can see at the top of the page.

Why am I paying interest?

For various reasons. The interest you pay is, for example, a fee for the lending service. Also, the lender who lends an amount can no longer use that amount himself - the interest assures the lender of a partial repayment and serves as a kind of payment insurance.

What is interest?

Interest is another word for the amount that someone who lends money receives as payment for the fact that that loan is provided. The borrower therefore not only ultimately repays the loan to the lender, but also pays the lender a little extra because he has lent money. It is a fee for the loan service.

What do I pay per month on a loan?

That depends on what type of loan you have, what amounts are involved and what the associated interest is. For example, with a personal credit, the interest is fixed, and you pay off a fixed rate every month. But with a Revolving Credit, the interest is variable - it can therefore rise or fall. Do you want to know what you would pay per month for the loan you have in mind? Then ask for a no-obligation proposal.

How much interest do I pay with a loan?

Because we work with almost all banks, we can offer you very competitive interest rates. The most competitive interest rates based on the strictest criteria are shown in our interest overview; a personal loan, for example, is already possible from 4.1% interest! The interest rate that applies to your situation depends, among other things, on the loan amount and the type of loan. Wil je precies weten wat jouw rente zou zijn? Vraag dan een vrijblijvende offerte aan.

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Hereby big thanks to Jeroen. Friendly man, listening ear, and also in for a nice chat. We are very satisfied.

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Compare interest

Compare our always low interest rates with various providers!

Lender Interest Monthly charges Cost To request
defam 3.7 249 29,871
interbank 3.7 249 29,871
qander 3.9 251 30,150
nationale-nederlanden 4.0 252 30,290
abn-amro 4.2 255 30,572
bnp-paribas-personal-finance 4.6 260 31,141
ing-bank 5.1 266 31,860
  • The Annual Percentage Rate (APR) is equal to the interest on this product.
  • For a Personal Loan, a minimum term of 12 months and a maximum term of 180 months applies.
  • A minimum term of 1 month applies for a Revolving Credit, the maximum term depends on the interest, extra repayments and extra withdrawals.
  • The minimum interest is 3.5% and the legal maximum interest is 14%.
  • Last checked on January 19, 2021.

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