What is a personal loan?

With a personal loan (or: declining credit) you agree with the lender on an amount that you want to borrow and then repay each month. In the first months, your monthly payment consists mainly of interest, but as the term expires you will pay more and more repayment .

Ultimately, you can be sure that you have repaid the entire loan after the agreed time. The interest you pay on the loan is therefore always fixed . A variable loan would mean that the interest rate could go up or down, so that the term cannot be predicted. So you know exactly where you stand with an expiring credit.

Loan amount
$ 500 $ 10,000
1 year 5 years
Installment amount:
Interest rate:
Total payment:
We are happy to show you what you pay for taking out a loan. This tool gives you an indication of this. When actually entering into a financing with Centerh-loan, via MyCreditscore, you will always see such information in the agreement.
Total payable in interest:

Advantages of a personal loan

A personal loan has a number of advantages. This way, you will receive the amount you want to borrow in one go into your account and, if you use the loan to renovate or improve your owner-occupied home, you can deduct the interest for tax purposes. You can also repay the loan early at Centerh-loan without penalty. Below you will find an overview of the benefits of a maturing credit.

Fixed credit and monthly amount

With a personal loan you pay a fixed monthly amount . Before you take out the loan, you know how much credit you are going to borrow and what this will cost in repayment and interest per month.

Fixed interest rate

The interest rate is fixed for a personal loan. This way you will not be faced with unpleasant surprises and you know exactly where you stand.

You know the term in advance

With an expiring credit, you know in advance what the costs and the term will be . You can be sure that the loan will be repaid after the term.

In short; you know exactly where you stand

We believe that a personal loan is the most responsible way of borrowing.

Do you use the loan to improve your home?

If you can demonstrate that you are using the loan to renovate or improve your home, the interest is tax deductible.
For all the conditions regarding the interest deduction, see the website of the Tax Authorities.

Do you use the loan to purchase a product?

Then make sure that the term of the loan does not exceed the period in which you use the product . This will prevent you from still paying off for something you no longer use. Consider, for example, an expensive television that you want to replace after a few years.