What is a personal loan

What is a personal loan

A personal loan provides tailor-made coverage for a one-off major expense. For example, the purchase of a motor, boat or caravan, but also for car financing.

With a personal loan you have the entire agreed loan amount in one go. This means that you will save afterward instead of in advance. After you have received the loan amount, you can immediately proceed to purchase. You then repay a fixed amount for repayment and interest every month.

Also take advantage of your purchase and consider a personal loan. The major advantage of this credit form is the combination of fixed repayment / fine-free repayment, interest and term. The monthly interest is fixed throughout the term. The monthly repayment is also the same throughout the term. So you know exactly where you stand in advance.

Do you want to avoid intermediate surprises? Then choose the personal loan. You agree in advance how much you want to borrow and how long you want to repay. The most favorable term depends on the life of the purchase. Spin Lender is happy to help you determine this. We determine the maximum loan amount on the basis of your income and fixed costs. With each individual loan, we convert our expertise into tailor-made solutions for you!

Features of a personal loan

Features of a personal loan

  • You will receive your loan at once.
  • The interest is fixed throughout this term with this form of credit
  • The monthly amount is always the same during the term
  • Interim interest rate fluctuations do not affect your loan
  • At the end of the term, there is no residual debt with this form of borrowing

Indication rates for a personal loan

Indication rates for a personal loan

Credit amount Monthly amount * Fixed debit interest * Annual Cost Percentage * Duration Total price of the credit *
$ 5,000 $ 56.30 6.5% 6.5% 120 months $ 6,756.00
$ 10,000 $ 106.46 5.2% 5.2% 120 months $ 12,775.20
$ 15,000 $ 154.11 4.4% 4.4% 120 months $ 18,493.20
$ 25,000 $ 254.56 4.2% 4.2% 120 months $ 30,547.20
$ 50,000 $ 509.11 4.2% 4.2% 120 months $ 61,093.20
$ 75,000 $ 763.67 4.2% 4.2% 120 months $ 91,640.40

Spin Lender checks whether you can qualify for a personal loan of at least $ 2,500 and at most $ 75,000. The associated annual percentage rate (APR) or interest depends on your personal (financial) situation and the amount of the loan amount. With a personal loan, the minimum term is 6 months with a maximum term of 120 months. The maximum statutory interest is 14%.

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