It is always an extensive online search, because where exactly can you find the cheapest revolving credit that can also be easily applied for or downloaded and approved quickly.
In the overview below I will try to answer this question. But perhaps more importantly, it also gives the possibility to request a free quote for a revolving credit. With this quote you can read at home again what exactly the offer entails and whether the interest offered is indeed as low as initially indicated.
What is the lowest interest rate at the moment
At the time of writing, the interest offered changes very regularly. It is therefore also difficult to indicate what a permanent interest rate is.
In order to be able to give an indication of the current borrowing rate, I give the example of Nationale Nederlanden offering an interest on a revolving credit from 4.5%. It should be noted that this is an interest with a € 25,000 revolving credit. With a lower amount, the interest will rise and with a higher amount will fall slightly.
Your personal circumstances
Your personal circumstances are very important for the level of interest. Do you have your own house or rented house, are you married or divorced, do you have children, these are all factors that count when you decide to apply for a revolving credit.
If, during the term of your revolving credit, your personal circumstances change due to, for example, the divorce, the lender may adjust the interest. Keep this in mind. If your circumstances are more favorable, do not forget to report this change so that you are eligible for a lower interest rate.
Apply for ongoing credit
Two providers of revolving credit are offered on the Good Finance website. By no means a complete offer, but an overview of providers who offer a high degree of acceptance and have a particularly good customer service. Add to this the low interest rate offered as a reason to offer these credit providers in an overview.
Transfer expensive loan (s)
A good time to check again if you have a loan elsewhere for which you are currently paying too much with the low interest rate. Earlier I wrote about transferring an expensive loan. It is easy to do because you can indicate when you apply for your new revolving credit that you want to refinance on an ‘old loan’.
Once approved you no longer have to worry about this. Your old loan will be repaid in its entirety and your revolving credit will be increased with this amount, but with a lower interest rate than you now paid.
Applying for and transferring the cheapest revolving credit
Even with a low interest rate, borrowing money still costs money. However, rescheduling an old loan can save you money. If the total sum of your loans exceeds what you have now, this will cost you money. The company that provides the loan wants to earn money.
So think carefully before you take out a new loan and be well informed about all the conditions that are imposed on you. For example, take a look at the Good Lender website. There you will find a lot of information about finance in general and lending money in particular. Do borrow the risk meter and discover your personal situation.