You repay your loan in monthly instalments. These payments are collected automatically from the linked current account. Each month, we collect the monthly payment for your loan. Once per calendar year, you have the option to defer a monthly payment. On Manage your loan you can read how to do this.
"}},{"accordionList":[{"richBody":{"value":"Your monthly payment is based on your loan amount, the loan duration, and the fixed interest rate that applies to your loan. Each monthly payment consists of a principal amount and an interest amount. The principal repayment amount reduces your outstanding balance, while the interest part covers the cost of the loan.
Example: You have a loan with an outstanding balance of €1.000. Your monthly payment is €200. The interest due this month is €10. The principal part is therefore €190. After the monthly instalment, your outstanding balance is €810 (€1.000 - €190).
The proportion of principal and interest within your monthly payment changes every month. The lower your outstanding balance, the less interest you pay.
"},"title":"Composition of your monthly payment"}],"componentType":"accordion"},{"accordionList":[{"richBody":{"value":"If you do not have any payment arrears, you do not need to transfer the monthly payment yourself. Any payments you transfer yourself will be treated as additional repayments on your loan.
If there are insufficient funds in your account on the collection date, we will make several additional attempts to collect the monthly payment on the following business days. If the collection ultimately fails, you will receive a message from the arrears department with information about the next steps.
"},"title":"Making a monthly payment yourself"}],"componentType":"accordion"},{"accordionList":[{"richBody":{"value":"Additional repayments do not affect the amount of your monthly payment. This amount remains the same throughout the loan duration. Because you pay interest on the outstanding balance, an additional repayment will reduce the amount of interest you pay over the life of the loan compared with not making additional repayments. It may also shorten the duration of your loan because you repay the balance more quickly.
"},"title":"Monthly instalment after an additional repayment"}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"Loan collection"},{"componentType":"paragraph","richBody":{"value":"Each month, we collect your monthly payment from the account linked to your loan. The collection will only succeed if there are sufficient funds in the account. Would you like to change the linked account? Visit Manage your loan to find out how.
"}},{"accordionList":[{"richBody":{"value":"We collect your monthly payment each month. Collections are always made on a business day. If your collection date falls on a weekend, we will collect the payment on the preceding business day.
There must be sufficient funds in the linked current account. If there are insufficient funds, we cannot collect the monthly payment. If the first collection attempt is unsuccessful, we will make another attempt on each of the following three business days.
If the collection is successful within these four collection attempts, no further action is required. If the collection has still not succeeded after all four attempts, a payment arrears situation will arise on your loan. You will then receive a message from the arrears department explaining the next steps.
"},"title":"How automatic collection works"}],"componentType":"accordion"},{"accordionList":[{"richBody":{"value":"If your loan is paid out between the 1st and the 9th day of the month, the first collection will take place in the same calendar month. If your loan is paid out between the 10th day and the last day of the month, the first collection will take place in the following calendar month. The monthly payment amount will not be higher as a result.
If you transfer money yourself, this will be treated as an additional repayment. The automatic collection of the monthly payment will still take place. You do not need to transfer monthly payments yourself unless you have payment arrears.
"},"title":"Collection of the first monthly payment"}],"componentType":"accordion"},{"accordionList":[{"richBody":{"value":"You can find the automatic collection date in your loan agreement. You cannot change the collection date. Because we only collect payments on business days, your actual collection date may not be the same every month.
| Around the 24th of the month | Around the last day of the month |
|---|---|
| Friday 23 January | Friday 30 January |
| Tuesday 24 February | Friday 27 February |
| Tuesday 24 March | Tuesday 31 March |
| Friday 24 April | Thursday 30 April |
| Friday 22 May | Friday 29 May |
| Wednesday 24 June | Tuesday 30 June |
| Friday 24 July | Friday 31 July |
| Monday 24 August | Monday 31 August |
| Thursday 24 September | Wednesday 30 September |
| Friday 23 October | Friday 30 October |
| Tuesday 24 November | Monday 30 November |
| Thursday 24 December | Thursday 31 December |
| Around the 16th of the month | Around the 8th of the month |
|---|---|
| Friday 16 January | Thursday 8 January |
| Monday 16 February | Friday 6 February |
| Monday 16 March | Friday 6 March |
| Thursday 16 April | Wednesday 8 April |
| Friday 15 May | Friday 8 May |
| Tuesday 16 June | Monday 8 June |
| Thursday 16 July | Wednesday 8 July |
| Friday 14 August | Friday 7 August |
| Wednesday 16 September | Tuesday 8 September |
| Friday 16 October | Thursday 8 October |
| Monday 16 November | Friday 6 November |
| Wednesday 16 December | Tuesday 8 December |
If there are insufficient funds in your current account on the direct debit date, we will try again on the next three working days. If the direct debit is successful during any of these retry attempts, no further action is needed. If the direct debit fails after all four attempts, a payment arrears balance will arise on your loan. You will then receive a notification from our arrears department about the next steps regarding the overdue payment(s). If you have not made a payment for more than one month, we will charge default interest on the unpaid amount. The default interest rate is equal to the contractual interest rate on your loan. We will automatically collect this additional interest once all arrears have been cleared.
For more information, please see the page Loan arrears. Do you need help paying your monthly instalments? Please contact us.
"},"title":"Direct debit collection failed"}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"BKR-registration of your loan"},{"componentType":"paragraph","richBody":{"value":"All loans over €250 with a duration longer than one month are registered in the credit register of the Bureau Krediet Registratie (BKR). This also applies to your loan. The registered credit amount is equal to the total amount payable as stated in your loan offer. This amount consists of the credit limit and the total interest payable. You can request your credit report free of charge.
"}},{"accordionList":[{"richBody":{"value":"Type of loan
The initial registration of your loan is called a positive registration.
If you miss two or more payments on your Personal Loan, we are required to report the payment arrears to the BKR.
If you miss three or more payments on your Revolving Credit, we are required to report the payment arrears to the BKR.
Payment arrears are recorded in the credit register using specific codes. This is called a negative registration. Negative BKR registrations may affect future applications for, for example, a loan or a mortgage. Both the positive and negative registration remain visible for five years after the actual end date of your loan.
"},"title":"Positive or negative registration"}],"componentType":"accordion"},{"accordionList":[{"richBody":{"value":"If you miss a monthly payment, we will inform you. If you miss two or more payments on your Personal Loan, we are required to report this to the BKR. If you miss three or more payments on your Revolving Credit, we are required to report the payment arrears to the BKR.The negative registration remains visible in the credit register for up to five years after the end date of your loan, even if the arrears have been cleared.
| Code | Meaning |
|---|---|
| A | You have fallen behind on your credit payments for a certain period. |
| H | You have caught up on the payment arrears and your credit agreement is continuing as normal. In addition to the arrears code (A), a recovery code (H) will be registered. |
| 1 | You have a registered payment arrears code (A) and have agreed a repayment arrangement to repay both the arrears and the credit. |
| 2 | The lender has demanded immediate repayment of both the payment arrears and the outstanding credit balance. This means the lender has asked you to repay the full amount in a single payment. |
| 3 | The lender has written off €250 or more of the payment arrears and the credit, or has forgiven €250 or more of the debt. |
| 4 | The lender has attempted to contact you but has been unable to reach you. |
| 5 | You have agreed a preventive repayment arrangement for your mortgage with your lender. This code is temporary. |
Do you disagree with your negative registration? On the page BKR-registration, you can find information about how to submit a request for a correction or removal.
"},"title":"BKR-registration changes or removal"}],"componentType":"accordion"},{"componentType":"sectionTitle","title":"Death risk coverage"},{"componentType":"paragraph","richBody":{"value":"Loans with a contract date before 1 July 2023 include death risk coverage. This means that, in some cases, the outstanding debt may be written off if the first contractor passes away. At a minimum, the following conditions must be met:
Any missed instalment payments before the date of death are not covered by the death risk coverage. Do you expect payment difficulties as a result of the death of the co-borrower? On the page Stay in control of your money, we explain what information we need to assess a suitable solution for your situation.
"}},{"componentType":"sectionTitle","title":"Cooling-off period"},{"componentType":"paragraph","richBody":{"value":"Have you accepted the loan offer but decided that you want to cancel the agreement after all? You can do so by repaying the credit amount together with any interest charges that apply. On the page Manage your loan, you can find information about making extra repayments, ending your loan, and requesting a redemption statement. The agreement will automatically end once you have repaid the full outstanding balance, including any interest charged.
"}},{"componentType":"sectionTitle","title":"Terms and conditions"},{"componentType":"paragraph","richBody":{"value":"View the Personal Loan terms and conditions
"}}]},"hasMacro":false,"id":"d6da3023-3eef-451a-b075-9e492e6aa3b2","localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"More information about your loan","url":"/en/personal/loans/use-my-loan/more-about-ing-overdraft"}},"componentType":"productHeader","coreHeader":{"body":"You have taken out a loan with us. Here you can read how your loan works, so you have a clear understanding of the rules and options available to you.","headerImage":{"extension":"png","original":"https://assets.ing.com/asset/6cdd659d-ee16-4547-a703-1929db8ab1f6/MGM-campagne-header-gezamenlijke-rekening.png","transformBaseUrl":"https://assets.ing.com/transform/6cdd659d-ee16-4547-a703-1929db8ab1f6/MGM-campagne-header-gezamenlijke-rekening","type":"image","width":916},"title":"Your loan during the repayment period"}},"publishDate":"2026-07-09T14:31:04.333+02:00"}}