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Continuous Credit with M-Credit
When taking out a Continuous Credit, you agree on a maximum loan amount . Within this maximum you can withdraw amounts at any time and replenish or repay everything in monthly installments.
When you withdraw amounts, how much you withdraw and what you use it for is up to you! With a Revolving Credit, you always have money on hand.
If you have a Revolving Credit, you only pay interest on the amount withdrawn from your permitted maximum. At the end of the year you will receive an annual overview of the interest paid at most banks. In most cases, this interest is no longer tax-deductible, unless you invest the borrowed money in your first home.
You pay off a Revolving Credit in monthly installments. These installments include both the repayment and the associated variable interest. You can choose from various fixed monthly installments. The term is variable, because it depends, among other things, on the interest rate and the amount drawn. Additional repayments with a Continuous Credit can be made unlimited (and without extra costs!).
Continuous Credit for ...
A major advantage of the Continuous Credit is that you can withdraw and repay during the term of your loan, up to a maximum amount agreed in advance. This offers freedom: you always have extra money on hand, a reserve to absorb a financial setback. When you withdraw an amount is entirely up to you. You also only pay interest on the amount withdrawn.
The Revolving Credit is also a good alternative to a credit card and an overdraft at your bank. With both a credit card and a overdraft at your bank, sky-high interest rates of up to 14% are charged. A Revolving Credit offers the same benefits, only at a much lower interest rate, from 4.5. This way you can save a lot of money.
Continuous Applying for credit
Applying for a Continuous Credit is very easy via our application form. After receiving your data, we immediately check whether you are eligible for a Continuous Credit - our advisers always assess which loan product is best suited for your situation. We also calculate the maximum you could borrow based on 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 quote without obligation via the request form, or call 813-339-6809!