You pay interest on the amount you borrow. The longer it takes you to repay your loan, the higher the total interest costs will be.
"}},{"componentType":"sectionTitle","title":"2. Extra fixed expenses, less room to save"},{"componentType":"paragraph","richBody":{"value":"When you take out a loan, you pay a fixed amount every month: the instalment. This amount consists of interest plus repayment. Paying off a loan can take quite some time. During that period, you have additional fixed expenses. This means you have less room to spend money or to save. Keep this in mind.
"}},{"componentType":"sectionTitle","title":"3. Long-term commitment"},{"componentType":"paragraph","richBody":{"value":"If you choose a longer term (for example, 5 years), it can be difficult to predict what needs and unexpected expenses you may have in the future. That’s why it’s important, when taking out a loan, to think about your future plans for which you might need money.
Also keep in mind that with a longer term, you may still be repaying your loan while the item you purchased is already broken or replaced. Unfortunately, not all products last for many years.
"}},{"accordionList":[{"richBody":{"value":"Do you take out a loan of more than €250 and with a duration longer than one month? Then a bank or lender is required to report this to the BKR. This is a positive registration. You only receive a negative BKR registration if you fail to pay two or more instalments.
Credit providers use this information when you apply for a loan or mortgage. If you have paid on time, having a BKR registration is actually a good thing. A lender can see that your payment behaviour is in order and can offer you a loan that fits your financial situation. This is how you borrow responsibly.
"},"textLinks":[{"text":"More about BKR registration","url":"/en/personal/loans/information-about-borrowing/bkr"}],"title":"How does a BKR registration work with a loan?"},{"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 with a benefit income.
"},"textLinks":[{"text":"More information about borrowing without an income","url":"/en/personal/loans/information-about-borrowing/borrowing-money-without-an-income-or-permanent-contract"}],"title":"Can I borrow without an income?"}],"componentType":"accordion"},{"componentType":"linkList","iconTitle":{"title":"Loans"},"textLinks":[{"text":"What does borrowing cost?","url":"/en/personal/loans/what-does-borrowing-cost"},{"text":"How much can I borrow?","url":"/en/personal/loans/how-much-money-can-i-borrow"},{"text":"Apply for a loan","url":"https://mijn.ing.nl/banking/loans/personal-loan-apply"},{"text":"Current interest rates","url":"/en/personal/loans/rates"}]}]},"hasMacro":false,"id":"750c7ebc-4517-4649-b800-b90e7010b91b","localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Borrowing money","url":"/en/personal/loans"}},"componentType":"productHeader","coreHeader":{"headerImage":{"altTextDE":"\"","altTextEN":"\"","altTextFR":"\"","altTextNL":"\"","extension":"jpg","original":"https://assets.ing.com/m/73f7fce7e7e4f1d5/original/Young-boy-points-his-finger-at-other-boy-on-seaside-beach.jpg","transformBaseUrl":"https://assets.ing.com/transform/e76f455e-98f6-4d41-8969-18bc958a67ae/Young-boy-points-his-finger-at-other-boy-on-seaside-beach","type":"image","width":3643},"subtitle":"Before taking out a loan, it’s good to be aware of the disadvantages. We’ve listed them for you below.","title":"What are the disadvantages of borrowing?"},"legalBanner":{"body":"Let op! Geld lenen kost geld","componentStyle":"default","headerBannerType":"headerBannerType","image":{"extension":"svg","original":"https://assets.ing.com/m/3f5c0b274ee863ed/original/Group-7.svg","transformBaseUrl":"https://assets.ing.com/transform/bfc47636-d002-461a-b209-589beaaa7596/Group-7","type":"image","width":46}}},"publishDate":"2026-04-24T13:14:39.436+02:00"}}