Recently, the media was full of reports of low interest rates. This allowed the government to borrow money at ever lower interest rates. At the same time, your savings yielded little interest. So many messages and stories. As a consumer, do you actually have to do with this low interest rate? Or even more concrete: can you as a consumer do something with this with a loan? Our answer: think about transferring your loan.
Comparing loans pays off
For many people, an extensive search takes place before taking out a loan. Which loan best suits my needs and who offers the lowest interest rate? But these questions remain relevant, even once the loan has been taken out. Interest rates are always on the move, as the recent past has shown. Did you know that the difference in interest rates between lenders can reach 2%? Your own life is also subject to change. Keeping comparing loans can therefore save you a lot of money.
The best loan for you
In addition to saving you money, other reasons may come into play when transferring your loan. Whether it concerns your personal loan or revolving credit. Because whatever loan you took out, that was the best loan for your wishes and possibilities at the time. But is your life exactly the same as it was then? Or maybe you have started earning more, are you studying again, has there been a family extension? In addition, some things may have changed at your bank. By transferring your loan you can ensure that you always have the best loan for your personal situation.
Transfer loan costs
Practically transferring your loan means that your old credit is repaid and that you take out a new loan. With a revolving credit, this is possible at no extra cost, because you can always repay a revolving credit at no extra cost. There may be additional costs involved in transferring your personal loan, in the form of penalty interest. Your bank will lose interest if you suddenly pay off your entire loan. But often the amount that you have to pay in penalty interest outweighs the savings that the transfer will bring.
Apply for a loan
Finally, the question that comes to mind on many customers when this topic comes up: is my loan transfer a lot of hassle? Even if your old loan was not arranged through us. We arrange the transfer with your old and new bank. Saving money can be that easy.