Borrowing money is accompanied by specific questions from a lender. The lender wants to know, among other things, why you need money. Do you want to buy a car? Or do you want to install solar panels? Thanks to the answers to these questions, the lender can put forward the right installment loan. And that is certainly to the consumer’s advantage. Sometimes the borrowers do not know that they are entitled to a cheaper loan. This is the case, for example, with the purchase of an electric car.
Borrow money: the monthly charges
Furthermore, the lender will want more information about the duration and the amount of the loan. Just like the type of project, the above criteria have an impact on the annual percentage rate of charge. Borrowing money in Belgium sometimes becomes more expensive if you want to spread the repayment over a longer period. The lenders must in any case comply with the legal provisions regarding the loan periods. They may not exceed certain limits, depending on the loan amount. Before taking out a loan, the borrower must in any case know what the total amount to be repaid is.
Compare cheapest loans
Whoever thinks about borrowing money in Belgium, sees countless lenders offering different types of loans. But where can you find the best loan? Lite Lender helps you find the cheapest loan. This way you can compare all loans from all lenders through our handy overview.
To help you in your search for the cheapest loan, we have worked out several simulations. Based on a number of data, our simulation searches for the cheapest loan on the market. You can do a simulation for the following loans: green loans, personal loans, pooling loans and mortgage loans. Anyway, don’t forget this advice: Borrowing money also costs money!
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 percentage rate of charge may vary depending on the amount of credit, 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.