Have you found your dream boat and need help financing your ship? Then the Schepenkring broker is ready for you. Haven’t found your ship yet? Then take a look at our offer.
Personal loan explanation
For whom?
The Personal Loan is suitable for people who want to make a personal loan:
- looking for certainty, in the form of a fixed term and a fixed interest rate.
- be a minimum of 21 and a maximum of 74 years old.
The Personal Loan is less suitable for people who want to use it:
- a recurring need for money.
Personal Loan: certainty
Are you planning a one-off, major expense? For buying a boat, for example? Then you probably already know exactly how much you want to finance. Recognizable? Then take a look at the characteristics of a Personal Loan. You will benefit in this way:
- a fixed interest
- a fixed term
- Calculate your desired monthly rate yourself
With a Personal Loan, you know in advance where you stand: you know what amount you are borrowing.
- You know the monthly amount you pay
- You know how much interest you pay per month
- You know how much you pay off per month
- You know when you have repaid the loan
Calculate your monthly amount
With the calculation tool (included with each boat) you can calculate your desired monthly amount. By deciding for yourself what you want to pay down and how long you want to repay the loan, you determine your desired monthly amount.
An example: your new boat that you want to finance costs €125,000. You pay €100,000 yourself.
The total amount of credit is €25,000. If you opt for a term of 72 months, your monthly amount will be €422.52. (based on an interest rate of 6.9%).
Accelerated repayment of fines in the interim
Can you repay extra on your loan? That is a smart move, because it ensures that you pay off your loan faster than agreed.
Do you want to repay extra on a Personal Loan? Then the repayment amount must be greater than the current and the next monthly amount added together.
Say you have a monthly amount of € 150 and you repay an amount of € 500. From this amount you first pay 2 monthly amounts (2x €150 = €300). The remaining € 200 will be deducted from the outstanding balance. This shortens the term of the Personal Loan. The interest paid on the amount of credit is included in your monthly amount; in the event of interim and/or early repayment, you pay the remaining months multiplied by the monthly amount.
Good to know
Choosing to finance your boat means choosing security. But keep the following in mind:
- The interest rate of a Personal Loan is often higher than the interest rate of a Revolving Credit. On the other hand, it says that after paying your last monthly amount you no longer have any outstanding items and the boat is your property.
- The amounts you pay off cannot be withdrawn again.