What is an installment loan?

The question "What is an installment loan?" was answered and was about personal loan.

An installment loan is a Belgian form of borrowing money. The installment loan can be compared to the personal loan as we know it in the Netherlands.

You can apply for an installment loan at almost every bank in Belgium if you meet the conditions set by the bank. With the installment loan, it is clear what amount you borrow and how you repay it, in which installments.

Furthermore, with an installment loan it is also fixed what the interest rate is, so you will not be faced with surprises here. As noted earlier, the installment loan therefore resembles the personal loan as we know it in the Netherlands.

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