With a fixed monthly repayment for personal loans in the Netherlands, you pay the same fee every month until you have repaid your entire loan amount, or principal, as well as the accumulated interest. The amount you will pay back to the lender or bank each month will be calculated according to the fixed rate and the timeframe within which you have agreed to pay the loan back.
Sometimes consumers might want to make an extra payment on their loan when they have the funds available. In some cases, lenders or banks can add charges for early repayments, when the payments are higher than the fixed amount agreed upon. To read more about how to get out of debt, read our blog, 5 ways to pay off your debt faster.
In general, the timeframe of a personal loan ranges between 6 months to 10 years, but at Saldodipje we offer personal loans with a timeframe of 30, 45 or 62 days. With a shorter term, you will be paying the fixed interest rate over a shorter expanse of time, so the total interest fee will be less than if you are paying the loan back over a longer period.