Have you moved to the Netherlands, the land of tulips, canals, windmills, and various cycling routes? Are you planning to buy a home or car or other household appliances to lead a stable life in the new country? If you are falling short of savings, you can make the things affordable with the Dutch loans.
Dutch banks offer you different types of loans – personal, car, business, long-term, short-term, and various others. Financial support in the new country allows you to live a comfortable life in the Netherlands. Are you wondering now how to get a loan in the Netherlands? Well, the process is not that hard, but you need to fulfill certain conditions to become eligible and get your loan approved.
Whether you are applying for an offline or an online loan in the Netherlands, these are some requirements that need to be fulfilled. You can also use loan calculator Netherlands to apply with the right loan amount so that you can clear the debt easily and quickly.
Eligibility to apply for the loan:
- To apply for a loan in the Netherlands you need to be at least 18 years of age.
- You must have a valid identity proof.
- A secure income in necessary to apply for a loan. The bank can ask for income proof and even your employment contract.
- If you have recently moved to the country, then you might need to wait as the loans are granted only to people with a history of at least three years of employment in the Netherlands.
- If you are not from the EU, then a permanent residence permit will also be required.
So, what are the best loan providers in the Netherlands and which of them offers the best terms and conditions? We have listed below the most frequently used providers in the Netherlands.
Personal and private loans
Personal loans are popular in the Netherlands. Whether you wish to buy a house or renovate it or need funds to arrange a wedding, etc. getting a personal loan can help achieve all your goals. A personal loan comes with a fixed interest for a fixed term.
When you are applying for a home loan in the Netherlands, you agree on the amount and the term in which you can repay the loan in advance. The loan calculator in the Netherlands helps you in getting a better idea about the monthly payment, interest amount, and term in which the entire loan amount can be repaid. The moment you repay your fixed monthly installment with the interest amount, it gets debited from your bank account.
You must be thinking about how to get a loan in the Netherlands. The complete process of personal loans in the Netherlands for expats quick and simple. But you need to fulfill the below eligibility criteria to get your personal loan in the Netherlands approved:
- Under the Dutch employer’s contract, you should be working in the country for the last three years. However, if you are self-employed, even then your business needs to be active from the previous three years.
- Whether you are applying for an offline or an online loan in Netherland, your credit history needs to be positive.
- For non-Europeans, a residence permit is vital.
Car loan in the Netherlands
Car loan in the Netherlands helps you get the car of your dream easily. Just select the right loan amount and the term to get your dream car financed.
Things to consider while applying for auto loans in the Netherlands:
- Fulfill the eligibility conditions like your age, salary, employment history, and residence permit.
- When you buy a car on a loan, your vehicle acts as collateral for your loan amount. If you fail to repay the amount, the lender can seize your asset. So keep your term short that you can afford easily.
- Check your credit score before applying for the car loan. The higher your credit score, the better will be the interest rate.
Different Dutch banks offer you a loan with varying rates of interest. Compare car loans with various banks and apply them with the one that meets your requirements.
Be aware that Borrowing money costs money