Borrow money for a bathroom
You can take out two types of loans to finance a bathroom: a personal loan or a revolving credit. We are an independent party and mediate between different lenders. You want to borrow money for a bathroom: which loan is most suitable for this depends on your personal situation and wishes.
A personal loan to finance a bathroom
If you want to receive a one-off amount of money in your account, a personal loan is the most suitable. You borrow a predetermined amount with a fixed interest that you pay back monthly. The monthly amount therefore consists of repayment and interest. With a personal loan you know in advance where you stand. You know when you have paid the loan exactly: This prevents surprises afterwards.
Do you want to use the personal loan to renovate a bathroom in your own home? In that case, you can deduct the interest from the income tax. You can only deduct the interest with a loan for which you repay part monthly. This is possible with a personal loan, but not with a revolving credit.
A revolving credit for your bathroom
With revolving credit you experience more flexibility. A revolving credit has no fixed term and thus offers you the option to withdraw an amount of money over a longer period. This offers a solution, for example, when you spend a longer period renovating your bathroom and / or other areas.
The interest on a revolving credit is calculated on the outstanding amount and is variable during the term. The monthly amount that you pay for a revolving credit consists of interest and repayment.
