Are you in a situation where you need money, but no longer have any savings? Many Belgians among us sometimes experience it, unfortunately. And often you thought you couldn’t get a loan. Those times may well be over. The interest rates are very low, the economic crisis is over and banks have become slightly more generous. So you can benefit from that. A loan at low interest rates, it sounds like music in the hours.

A loan with low interest rates? Which can!

A loan with low interest rates? Which can!

It has often been mentioned in the media, the interest rate is very low. Many people have already applied for a loan and that trend is stable. Certainly for home loans you have to take your chance now. Other types of loans are also worth informing. Depending on your situation you have a lot of banks to choose from. They all have a range of loans listed on their website. There you can find a lot of information and perform simulations as a first step.

Such a simulation is a first step to discover how much a loan will cost you. In no time you have done a simulation and you see an amount. That is your monthly cost to fully pay off the loan. Everything is stated immediately including costs, so you know what you stand for. Completely without obligation and as much as you want, you can carry out your loan simulations. The interest rate will also change depending on what you want to borrow for. Housing loans have different interest rates than car loans and so on. You will see in the simulation which interest rate you will see.

The lower the interest, the cheaper the loan. That is a rule that you should definitely remember. Do not proceed too quickly to apply for a loan without first making a comparison. This way you can save yourself a lot of money and keep the monthly costs low. If you borrow for a car or a home then you have been paying off for a few years to many years. And then the monthly charge is important to view. Certainly with other fixed costs that you have for daily life. You must also include your costs for water, electricity and heating in the calculation.

You must write down the expenses that you already have in an overview. This way you can see what is going out every month and you can calculate whether there is still room for a loan. A bank allows you to spend 1 / 3rd of your income on loans. If you already have other loans or maintenance, the bank will add this and possibly give a negative answer if you have already reached your limit. Suppose you apply for the loan together with your partner, the combined income is higher, but the expenses remain the same. Then a bank can agree to the application. It is also a requirement to have a permanent job. With an interim or temporary job, a bank cannot be sure that you can repay the loan over the long term.

A bank looks at the risks it may have to a customer. No steady work and little income, you have little chance of an approved loan. If you have a permanent job and a stable income, then the chance of getting the loan is very high. When applying, you must also state all income and expenses, along with all your personal details. You can also submit a loan application via the internet.

There are loans for everyone, you may have already heard of mini loans. The word says it yourself, a mini amount to make a small purchase. Sometimes the balance in your bank account is not that famous and you need a loan to bridge an unforeseen circumstance. A repair to your car, for example, or your washing machine that has failed. Then a mini loan can be the solution.

The cheapest loan: this is it!

The cheapest loan: this is it!

Personal credits are a solution if you want to start a certain project. Then you get money in your bank account and you can decide for yourself what you want to spend it on. Just check, on any bank website, all types of loans are listed and you can perform a simulation to see what the monthly cost will be. They are ready to welcome you as a new customer, but don’t be tempted too quickly. Compare the loans and make the right choice.