Question 1

What is a personal loan?

Accepted Answer

A personal loan is a loan where the total amount is deposited into your ING current account (Betaalrekening) all at once.
You'll repay what you've borrowed in instalments over a selected period: the loan term.
A personal loan is ideal if you know how much you'll need to borrow beforehand and want certainty about how much you’ll have to pay.

Question 2

What does a personal loan cost?

Accepted Answer

The cost of a personal loan depends on how much you borrow, the loan term and the interest rate. We’ll set that interest rate based on your personal situation. Disover how we determine interest rates.

Request a free quote to find out exactly how much you’ll be paying. We'll need a few details to create your risk profile and determine the appropriate interest rates.

Question 3

How does a personal loan work?

Accepted Answer

You can use the money immediately.
You’ll pay a fixed monthly instalment consisting of principal and interest until you’ve repaid your loan in full. This way, you’ll know exactly what to expect.
You can always make extra payments without any penalty. This decreases the loan term and the total interest.

Question 4

What are the pros of a personal loan?

Accepted Answer

The money will be deposited into your account all at once. You can use it immediately.
Fixed interest rate and monthly repayment. You'll know exactly what to expect.
You can always make extra payments free or charge to reduce your costs and loan term.

Question 5

What are the cons of a personal loan?

Accepted Answer

You'll pay interest over the total amount of money you've borrowed. Using a loan to finance something will cost you extra.
You'll immediately start making your monthly repayments, so keep that in mind.
It may take a while before you've completely paid off your loan. Your financial situation may change during the loan term, so try to borrow as little as you can.

Question 6

What are the requirements for a personal loan from ING?

Accepted Answer

You're between 18 and 70 years old
You've held an ING current account for at least four months and live in the Netherlands
You have enough income to make the repayments. You cannot apply for a loan if you receive a social assistance or unemployment benefit.

Terms & Conditions Persoonlijke Lening