Crelan offers the opportunity to borrow money. For example, by taking out an installment loan. There are also options to obtain a home loan or to specifically take out a car loan. Wena Bank was founded April 1, 2013 and was the result of a merger between Centea and Lanbouwkrediet. However, the history goes back to a more distant past, so that there is a rich experience and extensive expertise in the field of banking. The installment loan is an example of a credit that can be used for various purposes. The home loan and the car loan relate to specific loan purposes.
The installment loan relates to a loan goal that can be filled in differently for everyone. For example, the money may be needed to buy new furniture. Or perhaps there is a desire to add a veranda. It is also possible to spend the money from the credit on other things. The nice thing about an installment loan is that part of the debt is paid off every month. The bottom line is that the money can be used for various spending options.
In addition, there is the advantage of spreading the costs of the purchase over a longer period of time. When the money is used for renovation work on the home, the interest is eligible for tax relief. With an installment credit, there is an annual cost percentage. The maximum term at Crelan is 84 months and the minimum term is 12 months. Incidentally, it depends on the loan amount what the exact maximum term is. That can be an amount of 2,500 US dollars with a term of 30 months and an amount of 10,000 US dollars. The APR depends on the term of the loan.
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Home Loan Plus
Crelan also offers the option of opting for a home loan Plus. This is a credit that offers a solution when building, renovating or buying a house or an apartment. There are various formulas available to make a choice for this mortgage loan. For example, there is an option with a fixed interest rate and an option with a variable interest rate. The term also varies from, for example, 10 years to 30 years.
The Crelan car loan is of course also an installment loan. However, this credit is specifically intended to buy a car. This can be a new car or a second-hand car. In addition, the credit is also suitable for financing the purchase of a motorcycle. There are a number of characteristics that apply to the installment car loan. For example, the interest rate is fixed. This means that it is clear which monthly costs will be incurred during the term. There are no additional costs in the form of, for example, file costs. The term is also determined by law. This is regulated in the Consumer Credit Act. To determine the maximum term, for example, the amount that is borrowed is taken into account.