Apply for a personal loan
Does a personal loan seem like the right solution for your loan goal? Then you can apply for a personal loan through us. This application is sent to various banks. As soon as you have made a choice for a lender and all the paperwork is in order, you will receive the amount in your account once. You pay the loan amount in installments at a predetermined interest rate.
Interest personal loan deductible?
A personal loan is a consumer credit
. A personal loan is often used for the renovation of a home. Are you planning to use the personal loan for renovating the kitchen, for example, and is it the house in which you primarily live? That is convenient. Because the interest is then deductible from income tax. This is only possible with a loan where you pay off part monthly, such as a personal loan.
What is the interest on a personal loan?
The interest on a personal loan is determined in advance. This way you know in advance what amount you have to pay off monthly, at what interest rate and on what term. The amount of the interest on a personal loan depends on the risk profile of the applicant. This means that an applicant who bears less risk can also expect less risk premium in the interest rate.
Are you still in doubt between applying for a personal loan or a revolving credit? Which form you choose depends on the flexibility you want and what loan purpose you have. If you want to make a one-off purchase, a personal loan is the best option. Do you want to withdraw multiple amounts in the long term? Then a revolving credit offers the solution. Another difference is the interest charged on the loan. With a personal loan, this is determined in advance and you know exactly where you stand. With a revolving credit, the interest is variable and can be higher or lower every month. The last difference is the term of the loan. A personal loan has a definitive end date, with a revolving credit this is for an indefinite period.
Disadvantages of a personal loan
If you choose a personal loan, you will experience less freedom than with a revolving credit:
- Amounts repaid cannot be recaptured;
- The interest is fixed, but can be higher than with a revolving credit.
A personal loan via yourtruecolours.co.uk
Are you convinced that a personal loan is the right option? Then you can apply for a personal loan through us. When making an application, we take into account a number of personal factors that are first checked by our acceptance department. We act as a mediator. We submit the application to various lenders. This is how we ensure that you get the best offer.