What is a Personal Loan?
Are you looking to purchase a new car, replace your furniture, renovate your house etc., on favourable terms as soon as possible? ING Luxembourg has the solution for you.
The personal loan is:
- at a favourable fixed interest rate,
- repaid in fixed monthly instalments
- over a period of 6 months to 5 years for most loans.
A loan adapted to your needs
Apart from the more common personal loans (for the purchase of a car for example), we also offer personal loans that can be used for home improvement, like our loan for green renovations.
These loans can be taken out for a period of 6 months to 10 years. Do not hesitate to contact one of our branches for more information on these loans.
- ING places a range of customised products at your disposal that are tailored to your specific needs and resources.
- Rapid approval of your loan
- Tax breaks: provided you are a Luxembourg tax payer, or the equivalent, you can deduct from your taxable income up to EUR 336 per household member in interest on your loan and in premiums on the corresponding Debt Balance Insurance.
Why take out Debt Balance Insurance?
« We recommend the Debt Balance Insurance in order to avoid any financial complications for your relatives should you have the misfortune to pass away during the life of the credit.
Often you hear people say: “Anyway, until I have paid off my home loan it’s the bank who owns my house”. But is it true?
It is always the same question that every one of us is asking before signing a home loan with his bank. To gain a more objective overview, let’s analyse them one by one with their respective advantages and disadvantages.
The rate remains fixed for a pre-defined period and, at the end of the period, is subject to a revision. The pre-defined period can vary from one bank to another but is generally 3, 5 or 10 years.