Borrowing money abroad can be beneficial. Interest rates in the Netherlands are often higher than rates abroad. Especially borrowing in Germany is popular among the Dutch population. In Germany money can be borrowed despite a BKR registration. This is virtually impossible in the Netherlands. In this article we list all the benefits.
Amount and reason
The personal loan is most often taken out abroad. This loan consists of a fixed amount and the interest is also fixed. Such a loan often amounts to less than a thousand euros. The reason for such a loan does not have to be specified.
In the Netherlands, every credit provider will look at the BKR assessment. The lender will therefore be familiar with previous payment arrears. If these are in your name, borrowing will often no longer be possible. Loans abroad are much more accessible. BKR testing is often omitted in other countries because it involves a time-consuming process. With larger amounts and mortgage loans, the chance of an assessment remains.
Loans can often be taken out very quickly abroad. Because the BKR check and other processes are canceled, the loan amount appears particularly quickly in your bank account. Where the average term in the Netherlands is between 1-2 weeks, a loan in Germany can be completed within 1-2 days!
Delivery time and conditions
In addition to the previous arguments, the repayment time and conditions of a loan abroad also play a role. In many cases the conditions are many times more favorable and you will have longer time to repay the amount. This way, there is less stress with regard to repayments and you can enjoy the benefits of borrowing for longer!