Consumers are increasingly receiving support to borrow money responsibly

For many consumers it is difficult to properly estimate the costs associated with a loan in advance. ABC research shows that almost half the loan is perceived as a burden.

Protect consumers against excessive monthly charges

consumers against excessive monthly charges

It is therefore important that there are measures to ensure that when you, as a consumer, want to take out a loan, you are protected against excessive burdens. Banks (and other lenders) may not give you unlimited credit as a consumer. They may only grant you a credit if you can actually bear the costs associated with that credit. If you apply for credit and the amount of this credit exceeds your capacity, the bank may not grant you this credit. If this does happen, there is an over-credit. The bank provides you with more credit than is permitted. What is or is not seen as over-credit is laid down in the lenders’ codes of conduct. These are the Association of Finance Companies (VFN), the Dutch Association of Banks (NVB) and the Dutch Association of Home Shopping Organizations (TWO).

Responsible lending measures


The Association of Financing Enterprises in the Netherlands (VFN) will implement various changes to the VFN Code of Conduct for consumer lending from May 2019 onwards. With these changes you as a consumer will be better supported to lend money responsibly.

For example, during the term of the revolving credit it will be regularly checked whether the outstanding credit still fits your financial situation. If this is no longer the case, solutions will be sought in consultation with you as a consumer. The term of new revolving loans will be limited to a maximum of 15 years.

Supporting consumers with responsible lending choices

Yet the vast majority of consumers are satisfied with their personal loan. This is according to research from Nibud. However, the research also shows that consumers can be better supported in making responsible loan choices. Consumers now mainly look at the interest rate and the monthly obligation of the loan. However, the term also plays a very important role for the total costs associated with consumer credit.

Borrow money from interest-only repayment

Borrow money from interest-only repayment

The National Credit Checker endorses this and has therefore taken the initiative to introduce the repayment loan. With the repayable loan, we want to put a stop to small revolving loans with a much too high interest rate, “says Chris Hilgersom, Director of the Credit System.

“We can move more towards a responsible lending method where the loan is geared to the consumer’s lending objective. This prevents your loan from continuing, while the economic life of the purchased product is already over ”.

Repayable loan: the answer to borrowing responsibly

The Credit System therefore introduces the repayment loan. With this initiative we ensure that you have the choice of a loan with a fixed repayment with a fixed term. You repay extra on your loan without penalty. That way you always have the prospect of a debt-free future. Of course you do this at the best interest and best loan conditions in the Netherlands. At National Credit Checker we transfer your revolving credit to a personal loan of 3.9% fixed interest!