Borrowing money has become cheaper. Last month, a number of large lenders lowered their interest. The lower interest rate now also makes a difference for people who want to take out a loan. In recent years, interest rates for borrowing money have lagged behind, while mortgage and savings rates have continued to fall.
Now borrow money cheaper
That is why it is now time to take a look at your loans. Certainly if you have expensive loans such as credit cards or other expensive forms of borrowing money. Also the interest on the personal loan. The fixed-interest loan is already under 4.5%.
In recent years there has been regular news in the media of a lower interest rate. This fall in interest rates is the result of crisis measures by the Bank. Among other things, the Bank tries to help the euro countries by lending banks cheaply. Companies and consumers can then also borrow cheaply. In the hope that they will spend this money and thus stimulate the economy.
More competition loans
Apart from the measures taken by the Bank, another development has an impact on lower interest rates. After all, there is increasing competition between providers of loans. ‘Old’ providers miss out on loans due to new players on the loan market. To stay interesting for people looking for a loan, they now also offer a lower interest rate. The expectation is that this will increase even more in the coming period. Lending money cheaper now is therefore possible anyway, but with a number of extra providers there is a good chance that interest rates can be lowered just a little further. Taking out a loan will therefore hopefully remain beneficial for some time.
Take advantage by comparing interest rates
The final interest rates for loans are always dependent on the wishes and personal situation of the applicant. For example, how much does someone want to borrow and for how long? But also: what does the application earn and how old is it? Request a quote to find out what interest is charged for your loan. And preferably request multiple quotes to be able to compare interest rates. This way you can easily choose the loan that suits you best at the lowest interest rate.