These are the most important general questions about loans.
"}},{"componentType":"accordion","accordionList":[{"title":"How does ING make sure a loan is responsible?","richBody":{"value":"At ING, we think it’s important that you feel comfortable when you take out a loan and that your loan is also responsible for your financial situation. We’re happy to tell you more about how we do this.
"},"textLinks":[{"url":"/en/personal/loans/information-about-borrowing/borrowing-with-peace-of-mind","text":"More about borrowing with peace of mind"}]},{"title":"What does ING do for me when money becomes tight?","richBody":{"value":"Sometimes money can suddenly become a problem. For example, due to losing a job, a divorce or unexpected high expenses. We want to prevent problems from growing, so of course we’re also here for you during your loan if something goes wrong or if you want to make a change.
"},"textLinks":[{"url":"/en/personal/loans/information-about-borrowing/borrowing-with-peace-of-mind","text":"Read more about borrowing with peace of mind"}]},{"title":"Will I get a BKR registration with a loan?","richBody":{"value":"Yes, all banks and lenders are required to report a loan to the Credit Registration Bureau (BKR). The registration is a notification that you have a loan. This is a positive registration. At BKR, you can see which loans you currently have and which ones you have had in the past five years.
"},"textLinks":[{"url":"/en/personal/loans/information-about-borrowing/bkr","text":"Read more about BKR registrations."}]},{"title":"Can I borrow money without income or a permanent contract?","richBody":{"value":"You cannot borrow without an income, but you can borrow if you do not (yet) have a permanent contract. There are also options for borrowing while receiving benefits.
"},"textLinks":[{"url":"/en/personal/loans/information-about-borrowing/borrowing-money-without-an-income-or-permanent-contract","text":"Read more about borrowing money without an income or permanent contract"}]},{"title":"What are the disadvantages of borrowing?","richBody":{"value":"A loan is a long-term commitment that comes with additional costs. With a loan, you have less money left for unexpected expenses.
"},"textLinks":[{"url":"/en/personal/loans/information-about-borrowing/what-are-the-disadvantages-of-borrowing","text":"More information about the disadvantages of borrowing"}]},{"title":"Until what age can I borrow?","richBody":{"value":"You can take out a revolving credit up to and including age 67. A personal loan up to and including age 69. By the time you are 75, the loans must be fully repaid.
"}},{"title":"What is the death risk coverage on a loan?","richBody":{"value":"If you take out a loan, it’s important to know what happens if you pass away. The death risk coverage ensures that, in most cases, your loved ones are not burdened with the loan. This coverage applies to loans applied for before 1 July 2023.
"},"textLinks":[{"url":"/en/personal/loans/information-about-borrowing/what-is-death-risk-cover","text":"More information about the death risk coverage"}]},{"title":"What are the tax benefits of a loan?","richBody":{"value":"A loan can offer tax benefits. For example, a debt can reduce your taxable assets in box 3, or the interest may be deductible in box 1. We’d be happy to explain how this works.
"},"textLinks":[{"url":"/en/personal/loans/information-about-borrowing/tax-benefits-of-taking-out-a-loan","text":"Tax benefits of a loan"}]}]},{"componentType":"sectionTitle","title":"General questions about using your loan"},{"componentType":"paragraph","richBody":{"value":"Do you have a loan? Here you’ll find the most important information about what you can do with your loan.
"}},{"componentType":"accordion","accordionList":[{"title":"How can I change my loan?","richBody":{"value":"Do you want to make a change to your loan? For example, increase your loan or adjust the term. We’re happy to explain how you can do this.
"},"textLinks":[{"url":"/en/personal/loans/use-my-loan/change-loan","text":"Read more about how to change your loan"}]},{"title":"How can I make extra repayments on my loan?","richBody":{"value":"Making extra repayments is always possible and free of charge. You can do it as a one-off payment, or you can set up automatic extra repayments. We’re happy to explain how you can do this in My ING, in the ING app, or if you don’t have My ING.
"},"textLinks":[{"url":"/en/personal/loans/use-my-loan/how-extra-payments-work","text":"Read more about extra payments"}]},{"title":"What happens to my monthly payment when I make an extra repayment?","richBody":{"value":"After an extra repayment, your monthly payment stays the same. Your monthly payment consists of an interest part and a repayment part. The interest part becomes slightly lower and the repayment part becomes slightly higher. In the end, making an extra repayment helps you finish your loan earlier and reduces the total interest costs over the full term.
"},"textLinks":[{"url":"/en/personal/loans/use-my-loan/how-extra-payments-work","text":"Read more about extra payments"}]},{"title":"How can I skip my monthly loan payment?","richBody":{"value":"It is possible to postpone the monthly payment of your personal loan or revolving credit once per calendar year. We’re happy to explain the conditions, how to request it, and what it costs.
> More information about postponing your monthly payment
"}},{"title":"How can I close my loan?","richBody":{"value":"Do you want to know how you can end your loan? We’re happy to explain how you can do this.
"},"textLinks":[{"url":"/en/personal/loans/use-my-loan/change-loan","text":"More information about closing your loan"}]},{"title":"What if I don’t have enough money in my account when the payment is collected?","richBody":{"value":"If the balance in your account is insufficient, we cannot collect the monthly payment. You will receive a message from us when you’ve missed a payment. In this message, we ask you to make the payment yourself.
If you miss 2 or more payments for a personal loan or student loan, or 3 or more for a revolving credit, we are required to report the arrears to BKR. You will then receive a negative registration. This remains visible for up to 5 years from the moment the loan is fully repaid and closed, even if the payment arrears have already been resolved.
"}}]},{"componentType":"sectionTitle","title":"Frequently asked questions: personal loan"},{"componentType":"accordion","accordionList":[{"title":"How long does an application take?","richBody":{"value":"You can request a quote online right away. We check the information you’ve entered and run a check with BKR. If everything is in order, you’ll receive a quote immediately.
If you agree with the quote, you let us know and upload the requested documents. Within two days after receiving these documents, we assess your application.
When everything is approved, we finalize the loan and the amount is transferred to your account straight away. You receive the full loan amount in one payment and can use it immediately.
The monthly payment is the amount that is deducted from your current account each month. We determine this amount before you take out the loan, so you know exactly what to expect.
The monthly payment is based on your loan amount, the term and the corresponding fixed interest rate. With each monthly payment, you repay part of your loan and pay the cost of the loan in the form of interest.
"}},{"title":"When is an application rejected?","richBody":{"value":"An application for a personal loan can be rejected when:
Yes, ING is required to report your loan to BKR if the amount is higher than €250. If you take out a personal loan, we will report this to BKR.
"},"textLinks":[{"url":"/en/personal/loans/information-about-borrowing/bkr","text":"Borrowing and BKR"}]},{"title":"I can no longer pay my personal loan, what now?","richBody":{"value":"Do you expect that you won’t be able to pay your loan for a longer period of time? Then contact the Prevention Desk at 020 22 888 99. Together, we’ll look at the options.
Did you know that you can postpone a payment once a year?
This way, we can work together to prevent financial setbacks from becoming major problems.
"},"textLinks":[{"url":"/en/personal/loans/use-my-loan/postpone-monthly-instalment","text":"Read more about postponing your monthly instalment"}]},{"title":"What happens to my personal loan after a divorce?","richBody":{"value":"Are you getting divorced? Then you both remain responsible for paying the monthly instalments until the entire loan has been repaid. After that, it is automatically closed.
Would you like to know what you can do now with your personal loan?
Indicate in Mijn ING that you want to close your personal loan. Once you’ve done that and have repaid the outstanding balance and interest, we can close the contract. This then happens automatically. We also deregister your loan with the Credit Registration Bureau (BKR). After that, the details of your loan will no longer be visible in My ING and the ING app. Closing your personal loan is always free of charge.
"},"textLinks":[{"url":"https://mijn.ing.nl/banking/loans/details","text":"Close my loan in My ING"}]},{"title":"How does it work if I want to increase my personal loan?","richBody":{"value":"You can increase the amount of your personal loan by adjusting it. Go to your loan in My ING, click “manage” in the top right corner, and then select “increase loan”. Because it’s important that the updated loan still fits your financial situation, we will carefully reassess your application.
"},"textLinks":[{"url":"https://mijn.ing.nl/banking/loans/details","text":"Increase your loan"}]},{"title":"How is my partner asked for consent when we apply for a loan together?","richBody":{"value":"If you and your partner apply for a loan together, we also perform several checks with your partner (including a BKR check) to assess whether the loan is responsible. To do this, we need their consent.
Your partner can give this consent via their own My ING. If your partner does not have My ING, calling customer service is also possible. During your loan application, you will be reminded to ask your partner to give consent. You then inform your partner, and they can provide consent right away by logging in to their own My ING.
"},"textLinks":[{"url":"/en/personal/customer-service/phone-numbers","text":"Find the ING customer service phone number"}]}]},{"componentType":"sectionTitle","title":"Frequently asked questions: revolving credit"},{"componentType":"accordion","accordionList":[{"title":"What is the monthly payment?","richBody":{"value":"The monthly payment is the amount that is deducted from your current account each month. For a revolving credit, this amount is always 2% of your total credit limit.
Each month, we calculate how much interest you need to pay. Your monthly payment minus the interest is your repayment.
"}},{"title":"What is the term of a revolving credit?","richBody":{"value":"A revolving credit has a limited term. Two years after opening, we block your credit. You then continue paying the monthly payment until your credit and the outstanding interest are fully repaid. If you want to repay the loan faster, you can make extra repayments at any time. This is entirely up to you and is always free of charge.
"}},{"title":"How does repayment work with a revolving credit?","richBody":{"value":"As soon as you withdraw money from your credit, you pay a fixed amount each month (your monthly payment). This is always 2% of your total credit limit and consists of interest and repayment. With your monthly payment, we first pay the interest you owe. The remaining amount is used to reduce your outstanding balance. We automatically collect your monthly payment from your ING current account on the last working day of the month. During the first two years, you can withdraw again any amount you have already repaid.
"}},{"title":"How is the interest on my loan calculated?","richBody":{"value":"We calculate the interest by looking at your outstanding balance on a daily basis. You pay the interest rate that applies to your agreed credit amount.
"}},{"title":"I can no longer pay my revolving credit, what now?","richBody":{"value":"Do you expect that you won’t be able to pay your loan for a longer period of time? Then contact the Prevention Desk at 020 22 888 99. Together, we’ll look at the possible solutions.
Did you know that you can postpone a payment once a year?
This way, we work together to prevent financial setbacks from becoming major problems.
"},"textLinks":[{"url":"/en/personal/loans/use-my-loan/postpone-monthly-instalment","text":"Read more about postponing your monthly instalment"}]},{"title":"What happens to my revolving credit after a divorce?","richBody":{"value":"Are you getting divorced? Then we block your credit, and you can no longer transfer money from your credit to your current account. This prevents unpleasant surprises caused by actions of your (ex-)partner. You both remain responsible for paying the monthly instalments until the entire loan has been repaid. After that, it is automatically closed.
"},"textLinks":[{"url":"/en/personal/customer-service/separation-or-breakup","text":"More information about your loan when you are getting divorced"}]},{"title":"How does ending my revolving credit work?","richBody":{"value":"Indicate in Mijn ING that you want to cancel your revolving credit. Once you’ve done that and have repaid the outstanding balance and interest, we can close the contract. This then happens automatically. We also deregister your credit with the Credit Registration Bureau (BKR). After that, the details of your loan will no longer be visible in Mijn ING and the ING app. Ending your revolving credit is always free of charge.
"}},{"title":"What if my revolving credit is blocked for withdrawals?","richBody":{"value":"If your revolving credit is blocked, withdrawing money is not possible. There are several reasons why ING may block the withdrawal space on your credit. For example, we block the credit two years after it is opened. Other situations in which we may block the credit include having payment arrears on your loan at ING, having a negative BKR registration with another financial institution, the death of a contract holder, a divorce, or missing financial information that we have asked you to provide. In the latter case, you can withdraw money again as soon as we have received the requested information and it shows that your credit still fits your financial situation.
"}},{"title":"Where can I find more information about the variable interest compensation?","richBody":{"value":"Do you have a consumer credit, a credit card with instalment payments, or a product that allows you to have an overdraft and does the product have a variable interest rate? Or did you have one in the past? Then you may be eligible for compensation.
"},"textLinks":[{"url":"/en/personal/loans/compensation-variable-interest","text":"Read more about compensation variable interest"}]}]},{"componentType":"linkList","iconTitle":{"title":"Loans"},"textLinks":[{"url":"/en/personal/loans/what-does-borrowing-cost","text":"What does borrowing cost?"},{"url":"/en/personal/loans/how-much-money-can-i-borrow","text":"How much can I borrow?"},{"url":"https://mijn.ing.nl/banking/loans/personal-loan-apply","text":"Apply for a loan"},{"url":"/en/personal/loans/rates","text":"Current interest rates"}]}]}}}