Terms and conditions for a Personal Loan

The rules are there to protect both you and the bank. They state how you get and repay the money, and when it must be paid back. They also explain what happens if you don’t pay on time or in the event of your death. Clear agreements help to prevent problems arising.  You’ll find our general terms and conditions on the website (PDF). In English, of course.

We’ll also send them to you if you request an offer and take out a loan. Here’s a list of some the most important agreements: 

You can always make extra repayments at no additional cost, if you get a bonus, for example, or a tax rebate. You’ll pay less interest in the long term and save money.    

If you take out a personal loan, you pay a fixed amount every month. This amount consists of interest and repayments of the principal sum. The interest rate does not change, even if market interest rates rise. This prevents nasty surprises and means that you know exactly how much interest you’re paying right from the start. 

If you get behind on your payments, you’ll be charged the same interest as on the loan. You’ll continue paying interest until you’ve completely repaid the loan. You can always get in touch with us if you’re having trouble making the repayments. The sooner you let us know, the better we can help you find a suitable solution. 

It’s possible that we’ll ask you for additional information during the term of your loan. We might need this to comply with rules aimed at combating money laundering or fraud, for instance. The terms and conditions state that you must cooperate with us if asked to do so. 

When you take out a personal loan, you can opt for a term of between 12 and 120 months. This has advantages: you know when your loan will be paid off, you won’t pay interest for longer than necessary, and it ensures that you can’t keep borrowing without repaying part of the principal sum. Always choose a term that matches your budget and financial goals. 

We always check your financial situation before you take out a loan. This is to ensure that the loan is responsible. We check your income and fixed costs, including your rent, mortgage payments, or family expenditure. We also consult the Dutch Credit Registration Office (BKR) to check whether you have any other loans. This way, you know that the loan you are taking out is right for you. 

 If you die, the loan must be repaid. Your relatives usually take care of this. If you have a partner, they may be liable for the loan and therefore responsible for repaying it. 

In certain situations, we can terminate your loan agreement. These include failure to make repayments 2 months in a row, moving abroad, bankruptcy or providing us with incorrect information. In these cases, you must repay the entire loan immediately. 

In short, you should always read the terms and conditions carefully. They provide clarity, prevent misunderstandings and protect you and the bank throughout the loan term. To find out more, please contact one of our advisers at the Loans Desk. We’ll be happy to help!