Moving to a different country is not a simple task. It needs advanced preparation, lots of planning, and considerable knowledge about the exotic land you are moving in. If you are looking to begin a fresh start in the Netherlands as an expat, you should keep a detailed account of Dutch loans provided by the country. As long as you are aware of the lending system of the Netherlands, you won’t face any issues while purchasing something big for yourself.
How to find the best loan provider if you don’t speak Dutch? You can right-click anywhere on the page of the provider with your mouse (if you are using Google Chrome). A dropdown menu will appear with the text: “translate this page to English”. This will make it easier for you to make the right choice.
It can be quite tricky to find the right Dutch loan provider since there are a lot of options on the market. We have selected the best loan in the Netherlands based on the criteria below. You can easily sign-up for your preferred loan provider online. We have listed below the criteria by which we have listed a top 6 of the best loan providers in the Netherlands.
Be aware that Borrowing money costs money
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#1  Rating Good loan provider that offers clear terms and interest rate. Same day quotes and fast payment. | Good loan provider that offers clear terms and interest rate. Same day quotes and fast payment. | 8.0 | Visit Santander.nl |
#2 Rating Great loan provider for mini-loans and fast payouts. Same day quotes available. | Great loan provider for mini-loans and fast payouts. Same day quotes available. | 7.7 | Visit Saldodipje.nl |
#3 Rating Large Dutch bank with clear contracts and interest rates. Easy understable website in English. | Large Dutch bank with clear contracts and interest rates. Easy understable website in English. | 7.4 | Visit ABN.nl |
#4 Rating You can borrow at a competitive rate (starts at 3.4%) – request a loan without oboligation | You can borrow at a competitive rate (starts at 3.4%) – request a loan without oboligation | 6.8 | Visit Kredietspotter.nl |
What is the necessity of loans?
Shifting to Netherlands exposes you to exploring more about the opportunities it has in store for you, including the loans available. If you are a resident of the Netherlands or have currently shifted to this new city, there are many reasons why should you opt for a loan here. Have a look at some of them.
- Debt consolidation: It is perhaps the most common reason why people opt for a personal loan. In case you have high-interest debt, you can also opt for a loan in the Netherlands.
- Home loan: Buying or remodeling a new home need lots of money. In that case, you can take a loan.
- Emergency expense: Emergencies can come at any hour without informing you. For that, you can opt for a loan in the Netherlands.
- Vehicle Financing: With a loan, you can purchase a car, boat, RV, and even a private jet.
Rather than these expenses, loans in the Netherlands can cover weddings, vacations, large purchases, and other costs. Borrowing money from some economic source is the only option when you don’t want to invest your savings into something. So let’s explore more about Dutch loans:
Personal loans
A personal loan is a sum of money borrowed by an individual for personal purposes and not for any commercial or business motives. The money gets used in buying services or products that have a limited self-life. Money borrowed for academic purposes, car purchasing, mortgage, purchasing furniture are examples of personal loans.
In the Netherlands, the whole amount of personal loan gets provided to the borrower through a single payment. As per the loan’s terms and conditions in the Netherlands, the borrower has to pay back the received amount after a specific period by monthly installment with interest.
Car loans in the Netherlands
Expats who have shifted to the Netherlands for some years need to buy a car indeed. But, a large number of ex-pats tend not to invest their hard-earned money into a new vehicle. Instead, they explore some options and finally go for a car loan in the Netherlands.
Taking car loans in the Netherlands is quite a common trend. Renowned banks of the Netherlands such as ING, ABN AMRO, several big companies, and lenders provide car loans to foreigners and ex-pats. Three years of employment history and a good credit score are required if you want to borrow money from the banks.You can set the term of a car loan in the Netherlands between 12 to 180 months as per your convenience. With a monthly expenditure of 1% to 2% of the borrowed amount, you can enjoy a massive car loan in the Netherlands for sure.
Student loans in the Netherlands
Borrowing money to continue post-secondary education has got worldwide recognition throughout the years. But, unfortunately, in the Netherlands, not a large number of banks offer student loans to international students.
If you want to pursue undergraduate and post-secondary studies in the Netherlands, you can borrow from specific institutes and online lenders. In addition, the Dutch government, the EU, and other private companies provide generous scholarships and stipends to underprivileged students who are highly ambitious.
Bank loan in the Netherlands
Borrowing money from Dutch banks as an ex-pat is not as easy as it seems. First, you have to provide your residential papers, employment proof, salary slip, and other valid documents that prove your authenticity.
Dutch banks like ING, ABN AMRO examine these papers properly and then only allow you to obtain money by maintaining all terms.
Home loan in the Netherlands
Purchasing a new residence in the Netherlands as an outsider is a little tricky until you thoroughly understand all terms and conditions of the Dutch mortgage loan. Dutch banks and private lenders deliver mortgage loans to foreigners based on some essential documentation.
First of all, you have to provide an estate authorization along with your current occupation evidence in the Netherlands. Banks having the chances of money instabilities do not allow mortgage loans to outsiders with non-EU revenue. Nevertheless, ABN AMRO accepts 90% of the non-EU amount when providing mortgage loans. Borrowers have to repay the borrowed money within the decided period with substantial interest.
Advantages of online loans in the Netherlands
It can be quite hassle to apply for a loan in the Netherlands with burdensome formalities, bank visits, hectic paperwork, etc. All of these can be nerve-wracking for those looking for a loan. You may have heard about the term called online loans in the Netherlands. Let us tell you the benefit of online loans:
- Accessibility: after downloading the loan application, you must register your account, and you can access the loan services whenever you want. The whole process will be done within 24 hours. An online loan is the best option if you are looking for quick cash.
- Secure: Online loans are a safe and secure method of borrowing money. The government backs online loans, so you always get quality services. Due to the online process, you will not have to share your details with any fraudulent companies.
FAQ about loans providers in the Netherlands
The full form of APR is the Annual Percentage Rate. As the name suggests, APR is the annual percentages rate in which you have to pay back the borrowed money to the bank.
A loan referred to a specific kind of credit, as a form of money, gets borrowed by people with a legal agreement with banks, private corporations, and other online lenders. Borrowers mustrepay the borrowed money within the contacted period, along with interest as per the durationand constraints of the particular loan.
A loan can get used for both personal and commercial purposes. For example, you can pay your debt, purchase a car, buy a home, buy a property, and do whatever you want without harming the pre-agreed contract with the lender. Additionally, you can take loans for business purposes from banks and other companies.
Well, even with a bad credit score, you can get a loan. But remember, there will be limitations if your credit score is not good enough. Additionally, banks will provide you fewer amounts and set an increased interest rate. Therefore, people with a poor credit history are qualified for loans but have to face lots of trouble.
