A revolving credit is a flexible loan. You agree on a credit limit from which you can withdraw money for two years. Once you withdraw money, you start paying interest and repayment. This monthly payment is standardly 2% of your total credit limit. After two years, the possibility to withdraw money is blocked. You can no longer make new withdrawals and you continue to pay interest and repayment until your credit is fully repaid.
"}},{"componentType":"sectionTitle","title":"How does a Revolving Credit work?"},{"componentType":"paragraph","richBody":{"value":"You decide when and how much you withdraw from your credit limit. You transfer the amount you need to your ING current account, and you can use it right away. Your monthly payments (interest and repayment) start the following month. These payments continue until your credit has been fully repaid.
A revolving credit may only be used for home renovations or furnishing your home. Home furnishing includes all movable items that belong to a private household. Think of furniture, curtains, audio, video and computer equipment, or sunshades.
Are you planning a renovation and don’t need the flexibility of multiple withdrawals? A personal loan for home renovation comes with a lower interest rate.
Key conditions
If you currently have a revolving credit, you can continue to use it as usual. You can also choose to end it at any time. Increasing your limit is no longer possible.
"}},{"title":"Where can I find more information about the variable‑interest compensation?","richBody":{"value":"Do you have a personal loan, a revolving credit card, or a product that allows you to overdraw your account, and does it have a variable interest rate? Or did you have one in the past? Then you may be eligible for compensation. You can find more information at ing.nl/compensation.
"},"textLinks":[{"url":"/en/personal/loans/compensation-variable-interest","text":"Read more about compensation"}]},{"title":"How do I convert my revolving credit into a personal loan?","richBody":{"value":""}}]},{"componentType":"sectionTitle","title":"Personal loan as an alternative to the revolving credit"},{"componentType":"paragraph","richBody":{"value":"
A personal loan is a good alternative to the revolving credit. With a personal loan, you borrow a fixed amount once and repay a set monthly amount until your loan is fully repaid.
"},"textLinks":[{"url":"/en/personal/loans/our-loans/personal-loan","text":"View the personal loan"},{"url":"/en/personal/loans/use-my-loan/change-loan","text":"Read more about adjusting your loan"}]},{"componentType":"paragraph","richBody":{"value":"| Advantages of a revolving credit | Disadvantages of a revolving credit |
|---|---|
| You can use the credit limit flexibly during the first two years. | The interest rate is often higher than with a personal loan. |
| You only start paying interest and repayment once you withdraw money from the credit limit. | The monthly instalment is standardly 2% of your credit limit. As a result, repayment can take longer than with a Personal Loan, which means total costs over time may be higher. |
| Extra repayments are always possible and free of charge. This reduces your costs and shortens the term. | Because you can withdraw money flexibly during the first two years, it can also be tempting to keep borrowing. |
| If you are a homeowner, a lower interest rate applies to you. |
Do you have, or did you have, a revolving credit? Then you may be eligible for compensation. Read more about the compensation scheme.
On 1 May 2022, we lowered the interest rate on all Revolving Credits and changed it from a variable to a fixed rate. This means your interest rate will no longer change during the term.
With a revolving credit, a fixed interest rate applies. This means your interest rate does not change during the term. The interest rate you pay depends on your total credit limit.
"}},{"componentType":"sectionTitle","title":"What does a revolving credit cost?"},{"componentType":"paragraph","richBody":{"value":"Once you withdraw money, your monthly payments (interest and repayment) start. This is standardly 2% of your total credit limit. You continue paying until your credit is fully repaid.
The cost of a revolving credit depends on the amount you withdraw, the fixed interest rate and how long it takes to repay the full amount.
Below you can see the current fixed interest rates for a number of example credit limits.
When you are a homeowner
Do you own your home and have a revolving credit? From €10,000 onwards, you pay a lower rate than the standard rate. In the table below, you can see for several credit limits what the costs are for a revolving credit for homeowners, assuming no extra repayments are made.
| Total credit limit | Theoretical terms (months) | Fixed interest rate | Annual Percentage Rate (APR) | Monthly instalment (per month) | Total amount payable |
|---|---|---|---|---|---|
| € 10.000,00 | 58 | 6,00% | 6,00% | € 200,00 | € 11.488,07 |
| € 15.000,00 | 57 | 5,20% | 5,20% | € 300,00 | € 16.888,44 |
| € 25.001,00 | 56 | 4,30% | 4,30% | € 500,02 | € 27.539,14 |
| Aanbieder | ING Bank NV, Bijlmerplein 888, 1102 MG Amsterdam | Handelsregister Amsterdam nr. 33031431 |
The fixed interest rate applies as of 1 May 2022. Subject to change.
"}},{"componentType":"accordion","accordionList":[{"title":"More information about this table","richBody":{"value":"The agreed amount you can borrow at most.
A revolving credit has a limited term. From the moment your credit is opened, you can withdraw money at any time during the first two years, up to the agreed credit limit.
The outstanding balance after these two years partly determines how long it will take to repay the credit. Because of this, we cannot know the total duration of your revolving credit in advance.
That’s why we calculate a theoretical term: the number of months it would take to repay your revolving credit if you withdraw the full limit immediately after opening the credit, make no further withdrawals and make no extra repayments.
The annual interest rate you pay for the loan. With a revolving credit, the rate stays the same throughout the entire term.
The APR is legally required and shows whether there are any additional costs besides the debit interest rate.
If additional costs apply, the APR will be higher than the debit interest rate.
For a revolving credit, the debit interest rate and the APR are the same.
If you take out a revolving credit, you need a payment account. You can choose a free oranjepakket, including Mijn ING and the Mobile Banking App, where you cannot use the debit card for payments or ATMs.
No other mandatory costs are charged.
The interest and repayment amount you pay each month for your loan. For a revolving credit, this amount is standardly 2% of your total credit limit.
This is the total amount of interest and repayment you would pay if you withdraw the full limit immediately after opening the credit and make no further withdrawals or extra repayments.
"}}]},{"componentType":"paragraph","richBody":{"value":"When you are not a homeowner
In the table below, you can see the costs of a revolving credit for several credit limits if you make no extra repayments during the term and you are not a homeowner.
Total credit limit | Theoretical term in months | Fixed debit interest rate | Annual Percentage Rate (APR) | Monthly instalment | Total amount to be payed |
|---|---|---|---|---|---|
| € 2.500,00 | 61 | 8,20% | 8,20% | € 50,00 | € 3.042,87 |
| € 5.000,00 | 60 | 7,65% | 7,65% | € 100,00 | € 5.995,18 |
| € 10.000,00 | 58 | 6,25% | 6,25% | € 200,00 | € 11.558,48 |
| € 15.000,00 | 58 | 5,75% | 5,75% | € 300,00 | € 17.122,60 |
| € 25.001,00 | 57 | 5,20% | 5,20% | € 500,02 | € 28.148,52 |
| Provider | ING Bank NV, Bijlmerplein 888, 1102 MG Amsterdam | Handelsregister Amsterdam nr. 33031431 |
The fixed interest rate applies as of 1 May 2022. Subject to change.
"}},{"componentType":"accordion","accordionList":[{"title":"More information about this table","richBody":{"value":"The agreed amount you can borrow at most.
A Revolving Credit has a limited term. From the moment your credit is opened, you can withdraw money at any time during the first two years, up to the agreed credit limit.
The outstanding balance after these two years partly determines how long it will take to repay the credit. This means we cannot know the total duration of your Revolving Credit in advance.
Therefore, we calculate a theoretical term. This is the number of months it would take to repay your Revolving Credit if you were to withdraw the full limit immediately after opening, and then make no further withdrawals or extra repayments.
The annual interest rate you pay for the loan. With a Revolving Credit, the interest rate remains the same for the entire term.
The APR is legally required and shows whether there are any additional costs besides the debit interest rate.
If additional costs apply, the APR will be higher than the debit interest rate.
For a Revolving Credit, the debit interest rate and the APR are the same.
When you take out a Revolving Credit, you need a Payment Account. You can choose the free OranjePakket with Mijn ING and the Mobile Banking App, but you cannot use the Debit Card for payments or cash withdrawals. No other mandatory costs are charged.
The monthly interest and repayment amount you pay for your loan. For a Revolving Credit, this is standardly 2% of your total credit limit.
This is the total amount of interest and repayment you will pay if you withdraw the full limit immediately after opening the credit and make no further withdrawals or extra repayments.
"}}]},{"componentType":"sectionTitle","title":"Example calculations for a Revolving Credit"},{"componentType":"paragraph","richBody":{"value":"Example:
In the examples below, you can see how (extra) repayments and withdrawals work.
"}},{"componentType":"accordion","accordionList":[{"title":"How repayment works","richBody":{"value":"Important: The amounts shown are examples.
"}},{"title":"How an extra repayment works","richBody":{"value":"Important: The amounts shown are examples
"}},{"title":"How an extra withdrawal works","richBody":{"value":"Important: The amounts shown are examples.
"}}]},{"componentType":"accordion"}]}}}