Personal loan

Personal loan

A fixed term and a fixed interest from 3.5%

Personal Loan with extra low interest

Perhaps you need a larger car due to a family expansion? Is the garden or garage really ready for a makeover? Or is this the time to finally make that dream trip you have been looking forward to for years? Everyone has a time when he or she could use a loan. A Personal Loan can then offer a solution, but at the best conditions and with a reliable provider. Then you are at the right place at M-Credit!

What is a Personal Loan?

A Personal Loan is actually exactly what most people expect from a loan: you agree on a loan amount and you will receive it in your account in one go. You then pay off that loan during an agreed term by paying a fixed amount every month. That amount consists of both a piece of repayment and a piece of interest. The interest on a Personal Loan is fixed, so you will never be faced with unpleasant surprises, and you can repay without penalty if you want to pay off your loan earlier.

About the term

The term that you agree upon when taking out your loan depends on your loan amount, loan goal and your financial resources. The shorter the term, the higher the monthly amount that you have to pay. Usually you can choose between a term between 6 and 180 months (15 years). Longer durations are sometimes also possible, for example during a renovation.

About the BKR check

Every loan in the Boston is recorded in the Credit Registration Office: the CRO. If you make a loan application, it will check whether you already have loans and whether you meet your payment obligations. This allows lenders to decide whether it is responsible to provide someone with a loan. A BKR registration is therefore not a negative thing: if you always meet your payment obligations, it shows financial responsibility.

Personal Loan for the self-employed

Do you want to borrow money as an independent entrepreneur ? Even then you have all kinds of options! You do have to meet different conditions than the average consumer. For example, you must have been working as an independent entrepreneur for more than 3 years, you must be able to show positive annual figures and you must not have a negative BKR registration.

Personal Loan for Seniors

We have a special Personal Loan for seniors. This Senior Loan is basically the same as a normal Personal Loan, but tailor-made for Senior Citizens. This way you can also borrow money responsibly at an older age.

Interest from

3.5%

Min. duration

12 months

Max. duration

180 months

Min. loan amount

$ 5,000

Max. loan amount

$ 150,000

Age to

74 years

Interest on a Personal Loan

The interest on a Personal Loan is fixed and cannot rise (or fall) on the basis of developments in the market. The interest rate that you agree upon when taking out the loan will therefore continue to apply. This way you know exactly what you have to pay and what the loan will cost you in total. That gives you extra control and certainty. Moreover, you can borrow money from M-Credit from a historically low interest rate of 3.5%!

Loan amount Interest Monthly charges Duration Cost To request
75,000 3.5 740 88,779 Request quote
60,000 3.8 600 72,024 Request quote
50,000 3.5 493 59,186 Request quote
35,000 3.7 348 41,819 Request quote
25,000 3.7 249 29,871 Request quote
15,000 4.2 153 18,343 Request quote
10,000 6.0 111 13,272 Request quote
  • 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.

Example Personal Loan

Would you like to know the maximum you could borrow? We have developed a handy online calculation tool for this! Enter your marital status, your living situation, your net income and your gross housing costs. We then give a good indication of what your maximum loan will be.

For example, do you live with your partner, without children, in your own owner-occupied home and together you earn about 3,400 us dollar net plus your gross housing costs 700 us dollar? Then you would, for example, be eligible for a Personal Loan of a maximum of 68,000 us dollar, at a (very low!) Interest of 3.6%. You could then pay this off in 120 months, with a monthly installment of 676 us dollar per month. Total costs (including interest): about US $ 81,000.

This of course remains an indication. Our experts determine your maximum loan amount in practice on the basis of your data if you make a no-obligation quote request. For example, we always match the term to the lifespan of your loan goal. For example, if you borrow for a car, we will ensure that you have repaid the loan in full before you have to replace the car. Always fill in the application form as correctly and carefully as possible: this not only allows us to make you an offer faster, but often also offer a lower interest rate. You will receive a response within 24 hours on working days!

Loan amount Interest Monthly charges Duration Cost
15,000 4.2 277 60 16,604
25,000 3.7 456 60 27,345
35,000 3.7 638 60 38,283
Loan amount Interest Monthly charges Duration Cost
25,000 3.7 249 120 29,871
50,000 3.5 493 120 59,186
75,000 3.5 740 120 88,779
Loan amount Interest Monthly charges Duration Cost
10,000 6.0 145 84 12,221
15,000 4.2 206 84 17,286
25,000 3.7 337 84 28,338

Personal Loan Benefits

A Personal Loan is a very clear form of loan. That is why many people choose this type of loan. A selection of your benefits:

  • Fixed term, so you know exactly when you will soon have paid off your loan
  • Fixed interest, so your interest can never rise with the market
  • Your loan amount is credited to your account in one go, with M-Credit often after a few days
  • You can always make extra repayments to pay off your loan faster, without a fine or other extra costs!

Extra benefit for home owners

Do you own your own house? Then you have even more advantages of a Personal Loan. You will then receive a lower interest rate, you can often borrow more and sometimes you can also take longer to pay off. You also have more loan options as a homeowner with a temporary contract than as someone with a rental home and a temporary contract.

  • Do you use your loan to improve your home? Then the costs are probably tax deductible!

Disadvantages Personal Loan

A Personal Loan actually has few disadvantages. Just like any other loan, a Personal Loan entails costs, but these are fixed and are very clear. It could be that, depending on your loan purpose, a different loan form suits your situation better. Some possible drawbacks:

  • You cannot withdraw repaid amounts again

Do you choose a Personal Loan or a Revolving Credit?

It could be that a Revolving Credit might suit your loan requirements better than a Personal Loan. For example, if you want to renovate, because you want to be able to continue to withdraw and pay off money during that renovation period. That is the difference between a Personal Loan and a Continuous Credit: with a Personal Loan you receive your loan amount in one go, and you can no longer withdraw the money you repay. With a Continuous Credit, you choose a maximum amount within which you can continue to borrow and repay indefinitely during the agreed term. You also only pay interest on the amount withdrawn.

Residual debt

Residual debt

The playing field in the housing market is very sensitive and quite irregular: sometimes you lose your house, but it can often take a long time before you can sell your house. And if you do sell your home, it may happen that the mortgage on your house is higher than the sale value: your house is then 'under water'. This means that when you sell, an amount remains that you have to pay extra. This is called the residual debt.

Pay off residual debt with a mortgage?

Most homeowners want to co-finance this residual debt in their new mortgage when moving. However, this is usually not allowed under current mortgage rules. This is partly because when taking out the new mortgage, it is checked whether your income and the value of the new owner-occupied home allow this, but also because it increases the monthly costs of the new mortgage: you can, for example, during the term of the mortgage ( up to 30 years) pay interest on this residual debt. Not an ideal situation.

Residual debt financing via M-Credit!

If you do not have enough savings to pay off your residual debt, or if you prefer not to use your savings for this, you can finance the residual debt of your home with residual debt financing. With this you borrow an amount with a fixed interest and fixed term to pay off the residual debt.

Costs of residual debt financing

With a Residual Debt Financing, you can borrow an amount between $ 15,000 and $ 50,000. The amount of the loan for which you are eligible is based on your personal situation. The amount of the monthly amount depends on the loan amount, the fixed interest rate and the number of months in which the loan is fully repaid.

Repay residual debt financing

You pay off a residual debt financing in monthly installments - a fixed amount with which you dissolve part of the loan and pay the (fixed) interest. These installments include both the repayment and the associated variable interest. Prior to taking out the loan, you discuss how much time you want to pay back the loan. This way you know exactly what amount you borrow, what monthly amount must be repaid and when the loan has been repaid in full. A transparent agreement, without surprises. Do you want to pay off the loan earlier than agreed? Additional repayments are allowed, but there are costs involved.

Residual debt financing alternatives

You can sometimes also finance your residual debt with a consumer credit. Consider, for example, a Revolving Credit or Personal Loan. Because where the mortgage lenders do not or hardly want to do anything extra to finance your residual debt, we deal with this differently! Our experts are happy to make your move as smooth as possible.

Applying for residual debt financing

Financing residual debt can therefore often be resolved easily, depending on your income and expenses. When you finance your residual debt with a loan, it is of course important that you can bear the costs of this financing monthly in addition to your new housing costs. In addition, it is advisable to pay off the residual debt as quickly. Request a quote without obligation for financing your residual debt!

After receiving your wishes and information, we immediately check whether you are eligible for residual debt financing and whether it suits you optimally - sometimes, for example, a Revolving Credit or Personal Loan suits your situation better. M-Credit also calculates the maximum you could borrow, whereby we ensure the best proposal from the bank. You will usually receive a response from us within 24 hours on working days. Curious about the possibilities? Request a free quote, or call 813-339-6809 quickly!

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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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Opening hours

  • Mon to Fri - 9 a.m. to 6 p.m.
  • Sat & Sun - closed
  • Online - 24/7
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