Repay personal loan
Research by Nibud shows that only 5% of consumers who take out a personal loan are disappointing in repaying the loan. Fortunately, that is not so bad! We would like to tell you more about it below.
Take out a personal loan
Taking out a personal loan is becoming increasingly popular. For example to finance a renovation, a holiday home or another major purchase. The personal loan is so popular because the term and interest are fixed, which offers you a lot of security. You also pay in fixed monthly installments. The term of the personal loan is often tailored to the expected life of the product or service you purchase. Then you are not even paying if the product is no longer in your possession!
You always take out a personal loan for a minimum of 12 and a maximum of 180 months. Some lenders have a maximum term of 120 months, but sometimes the term can also be longer than 180 months. When taking out the personal loan, it is therefore already established what you must pay monthly and how many months you must pay. Do you want to repay your personal loan early? Then some lenders charge penalty interest for this.
Nibud is an independent foundation and information institute that informs and advises on household finances, such as pocket money, pension, debts and benefits. Preventing money problems is always the goal. Recently, an investigation was published by Nibud about the personal loan. For 2 years, 850 consumers who had taken out a personal loan through an intermediary participated in the survey. The research also showed results regarding the repayment of a personal loan.
The survey shows that only 5% of consumers think that paying back a personal loan is disappointing. Further inquiries show that these people have given less thought to the consequences of taking out a (personal) loan than consumers who think the repayment is better than expected. For example, 4% did not check in advance whether they could pay the repayment. More than 78% did not know in advance how much they wanted to borrow, so they now also find the repayment disappointing. This doubt about the correct term means that they might now make different choices. However, if they could choose a loan again, 78% of the total 850 respondents would make the same choice. Only 14% would make a minor adjustment.
It is difficult for consumers to imagine how they will feel in a number of years to still pay monthly for a purchase that has already been spent a long time. The effect of the