You can not withdraw loan indefinitely.
That is the maximum loan amount. Do you need some extra money? Then you can withdraw extra credit every time you reach the credit limit. Did you pay back some money afterwards? Then you can withdraw extra money from your loan until you reach the credit limit again.
Term of your loan: withdraw and pay off
With a revolving credit, you may withdraw during the term of the loan, but also redeem as often as you wish. In consultation with the lender it is agreed what amount you have to pay at least per month. This is often a percentage of the credit limit or of the outstanding balance of the credit. But you can also pay off extra, which, unlike a personal loan, you will not be fined. In this way you shorten the term of the loan. Do you want to take extra credit in the interim? Then the term of the loan is extended again.
Let you advise on a loan and re-record
We can provide you with excellent advice on a loan, re-acceptance and repayment. As an independent broker, we know everything about the various types of financing, lenders, conditions, interest rates and premiums. Did you know, for example, that if you own a house, a revolving credit is often also possible in the form, where you can benefit from even more benefits, such as lower interest rates?
We can give you extensive advice on this. Feel free to contact us for more information or to make an appointment at one of our offices in your area. A revolving credit offers the solution when you want to borrow, but does not want to include the entire amount of the loan immediately. Borrowing a flexible form of money that is especially useful if you do not yet know exactly how much money you need. You can reach us, or request a quote directly or calculate the maximum amount that you can borrow .