Lendio believes it is important that consumers receive a loan that matches the financial situation and the purpose for which they are borrowing. This prevents borrowing more and longer than necessary.
Do you not have a loan yet and do you want to borrow money from Lendio? Then we would like to help you with a – responsible – loan with our personal loan.
Do you currently have a standing credit and do you want to convert it into a personal loan? Which can. Do you prefer to keep your current continuous credit? That is of course also allowed.
What is a revolving credit?
A revolving credit is a flexible loan in which you can take out or repay money. For example, at times when you need extra financial space. For the purchase of a new car, for a renovation or because you want something in hand just in case.
With a revolving credit, the interest and the term of the loan are variable. A credit limit is agreed in advance. This is the maximum amount that you can borrow. All amounts that you pay off in the meantime can be withdrawn at any time.
Risks of a Revolving Credit
The term of a revolving credit is variable. As a result, you do not know in advance exactly how long you will be paying. The amount that you pay off each month consists of interest and repayment. A revolving credit is often not fully repaid. Extra financial space is tempting and is often included for matters that do not necessarily require this.
With a revolving credit, the interest is not deductible. With a personal loan – under certain conditions – it is.
Choose certainty with Lendio
By stopping the ongoing credit you will no longer pay variable interest at Lendio. Security is the most important advantage of this. Security for everyone who takes out a loan with us.
With a personal loan you know exactly where you stand in advance. You pay a fixed interest and a fixed monthly amount during a fixed period. And at the end of the term you have guaranteed to pay off your loan. Such a nice thought, right?
Do you want to repay your loan extra in the meantime? Which can. At Lendio you can pay extra on your personal loan free of charge at any time.
Revert Continuous Credit
Do you currently have a continuous credit and would you like to transfer it to a personal loan? Which can. Then request a personal loan from us. If your application is approved, the old loan (or loans) will be repaid with the new loan. Your Personal Loan is then a loan with a competitive fixed interest, fixed term and penalty-free repayment.