Everyone has a dream, deeply tucked away in mind. Suppose it is your dream to climb the summit of Mount Everest. You need a substantial amount of money for that. A license can easily cost 25,000 USD. And what about the return trip from Brussels to Kathmandu? Nepal is more than 7000 km away and from Belgium it is 14 hours flying. And the carriers and guides you need? Food and oxygen to survive? Most people don’t just have it on the savings account. Fortunately, you can borrow money to finance this wonderful adventure. But at the lowest possible costs.
Large and (very) small loans can be used for anything and there are all kinds of options. With a revolving credit you can withdraw money and be in the red; the interest on this is quite low. You can also request a personal loan if you need a lot of money quickly, for example for a new car. You can also sign a lease contract for a new car; you pay a monthly amount and at the end of the contract you can buy the car at a certain percentage of the value. Then there is the mortgage, probably the most famous loan when it comes to buying a house.
When we think about borrowing money, we think about banks. At least that was how it used to be. But in recent years, many lenders have sprung up like mushrooms and the possibilities for borrowing are now endless. There can be quite a difference between all those lenders when it comes to the monthly installment, especially if the loan expires in years. The borrowed amount must, of course, be repaid, but you must also pay costs in addition. This is represented as an annual percentage that must be indicated on all credit websites as an APR (annual percentage percentage). The APR shows the annual interest that you pay on the loan amount plus the costs that the provider charges you.
It is therefore important to find the cheapest provider – that is, the one with the lowest APR. Specifically, the cheapest lender means more money in your pocket. Who would not want that? In addition, borrowing money online is cheaper because the intermediary who wants to offer you a loan is missing. Via the internet you can quickly make comparisons between the credit providers through their websites, and request a free quote by using the handy simulator tool. You enter some data, such as what you want to borrow, how old you are, whether you have work etc. and within a few seconds you know where you stand.
Of course you have to check whether the credit company is accredited in Belgium, carefully read the conditions and not borrow more than necessary or what you can pay off each month. But the borrowing climate is very good at the moment because the interest is so low, so this can be the time to borrow, pack your bags and travel to Nepal.