Closing a loan now seems very easy. But there are always risks. If you know what to look out for, you know what to expect and you can borrow responsibly.


Is borrowing really necessary? Perhaps saving is an alternative. Borrowing costs more money because of the interest you have to pay. Your purchase is therefore always more expensive. With savings you get interest and you are not stuck with compulsory repayments. And you save when it suits you.

63 % of households with a loan would rather have borrowed less

Responsible choice

A loan can sometimes be a godsend. Suppose your house needs urgent refurbishment to prevent even more expensive repairs are needed. This can also be the case when repairing the car or washing machine.

Are you considering taking out a loan? Then do the check below.

Close the loan checklist

1. Multiple offers

Request at least two quotes from various providers. This way you get a good picture of the possibilities and associated costs.

2. Permit

Does the provider of the loan have a license with the AFM ? If the provider does not have a license, it is not wise to take out a loan here.

3. Compare conditions

Compare the conditions of various lenders. Consider, for example, the possibility of early redemption or a term life insurance policy. But also the term.

Also read the fine print. This way you will not be faced with surprises.

4. Interest and costs

  • Is the interest fixed or variable? A variable interest rate may rise when the fixed-rate period expires.
  • How long does the interest rate apply?
  • How much do you have to pay per month and what part is interest?
  • Do you actually pay off per month or do you only pay interest?

If you know this, you can make an approximate estimate of the cost of the loan. Also note additional costs as insurance. With a longer term the monthly costs are lower, but in the end you pay more.

Lenders must provide you with an overview of their terms and conditions and interest rates. In order to be able to compare loans properly, the provider must also state the annual percentage rate. That is the interest including all additional costs. The annual percentage rate may not exceed 14 percent.

Differences between interest rates depend, among other things, on the form of the credit. Each lender applies his own rates within the statutory maximum. This interest is higher for smaller loans than for larger amounts. The costs that the lender has to make are relatively higher for small loans.

5. Take the time

Do not be pressured to sign a contract on the spot.