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What is the difference between a Personal Loan and a Revolving Credit?

A Personal Loan and a Revolving Credit both fall under the heading of consumer credit. The big difference between the two loan forms is their character: fixed versus flexible.

Characteristics of Personal Loan: Features Revolving Credit:
Fixed interest Variable interest
Fixed term Variable duration
Fixed monthly charges The customer determines the amount of monthly charges himself, with a minimum of 1% of the credit limit
The bank pays the full loan amount once. There is also a possibility to leave the money with the bank one month after payment. There is a possibility to indicate when the money should be in the account The customer decides for himself when to withdraw money and when to do so. Withdrawals can be made easily and free of charge via the app, online or via
Free additional repayments on the loan: the total costs go down Free additional repayments on the loan: outstanding balance decreases
No extra financial space However, extra financial space
Amounts repaid cannot be recaptured Amounts repaid can be withdrawn up to the credit limit
Tax benefit of interest costs for home improvement No tax benefit on interest costs for home improvement
Can be closed from the age of 21. The loan must be repaid before the age of 74 years Can be closed from the age of 21. Withdrawals from the credit are possible up to the age of 65
You pay interest on the entire loan amount, unless you have repaid on the loan without penalty. Then you only pay credit compensation for the period in which you used the credit You only pay interest on the amount withdrawn
Duration of 6 to 120 months (180 months only possible with 100% home improvement financing) No pre-agreed duration
The loan is fully repaid at the end of the term
Loan form for a specific loan purpose for private use, not for business purposes Loan form for specific purpose and extra financial space for private use, not for business purposes

Agreements between a Personal Loan and a Revolving Credit

In addition to differences, there are also similarities between a Personal Loan and a Revolving Credit:

  • You can redeem without penalty on both types of loan, so that the total loan amount is lower. In the case of a Personal Loan, the total costs decrease, with a Continuous Credit the outstanding balance decreases
  • You can close out from the age of 21
  • With both loan types, you have taken out a tax benefit on the interest costs with residual debt financing before 1 January 2018

Also read how to compare Personal Loans .

Do you have a Revolving Credit and would you like to transfer it to a Personal loan. Via you can transfer your Continuous Credit to a Personal loan free of charge.

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Caroline 7 days ago
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