Personal loans

What do you want to finance?

Be clear about what the money is for and how much is needed. Then consider alternatives: could you postpone the expense, reduce it or pay for part of it from available funds? When using your own funds, also consider your financial buffer. Being able to borrow an amount does not automatically mean that the expense or loan is suitable for you.

A personal loan is a form of consumer credit. It requires its own assessment of your income, expenditure and commitments. A mortgage or business finance has a different context; the conditions for those products should not be used to draw conclusions about your personal loan.

Monthly payment, term and total repayments

Make sure you understand how much you receive, how much you pay each month and when the loan will be repaid. A low monthly payment alone says little about the total cost. A longer repayment period can keep you committed for longer. Review the loan over its full term.

Using the same assumptions, compare the credit information, annual percentage rate of charge and total repayments. The annual percentage rate of charge helps you compare costs, but conditions remain important. This page does not state a current interest rate, fixed premium or personal borrowing amount; the specific information belongs in the proposal you assess.

Affordability alongside your other expenses

Consider the payment alongside your housing costs, everyday expenses, other credit and the amounts you need to keep in reserve. Include changes you already expect, such as working fewer hours or higher fixed expenses. A loan should be manageable throughout the repayment period, as well as on the day you apply.

A credit provider assesses the application and affordability. An online estimate or a conversation does not confirm acceptance. Include all commitments fully and accurately; omitting a debt does not give a reliable picture of your borrowing capacity.

The purpose and the amount you actually need to borrow.
The monthly payment and total repayments.
Your other fixed expenses and existing debts.
Your financial buffer and expected changes in income.

Understanding the agreement before signing

Ask how the loan is repaid and which rules apply if you want to repay early. Also check what happens if you fall behind with payments. Sign only when you understand the agreement and have had time to consider the consequences. A request to transfer money in advance to obtain a loan calls for particular caution.

Consumers may not be charged intermediary fees for arranging or refinancing consumer credit. For any separately offered service, ask what it involves and how it is remunerated. Additional insurance is a separate consideration and must not be presented as an automatic part of your loan.

Concerns about existing debts

If you notice that you are finding it harder to meet your current commitments, contact the lender promptly. For persistent problems, ask your municipality about appropriate debt assistance. A new loan does not automatically solve existing payment difficulties.

If you want to review an existing loan, consider more than a potentially lower monthly payment. Ask what the remaining debt, new term and total costs mean. Any change must be assessed for your situation; switching is not an automatic improvement.

Personal advice and intermediary services at RFD

RFD itself provides advice and intermediary services for personal loans. The conversation focuses on your purpose, financial situation and the considerations surrounding the loan. We discuss the information needed for the process and the service you will receive. The credit provider assesses the application and decides whether to accept it; our advice is not a promise that you will receive a loan.

Book an appointment or contact us directly through the contact page. Do not send an identity document, payslips or a complete financial file with your first general message. Agree the information needed and a secure route. The information on this page is general and contains no individual borrowing advice or promise of acceptance.

Frequently asked questions

How much can I borrow with a personal loan?

This page cannot determine that. An assessment needs your income, expenditure, existing commitments and the credit provider's conditions.

Is a lower monthly payment always better value?

No. Also consider the term and the total you repay. A longer period may give a lower monthly payment while keeping you committed to the loan for longer.

Do I have to take out insurance with the loan?

Additional insurance is a separate choice. Discuss its purpose, existing provisions, conditions and any costs; do not assume it is automatically needed or included.

What should I do if I struggle with repayments?

Contact your lender promptly. For persistent problems, ask your municipality about debt assistance. A new loan is not an automatic solution to a shortfall.

Can I apply for a loan directly in my first message?

Start with your question. RFD discusses the advice and intermediary process and which information is needed. Provide confidential information only through the agreed secure route; an initial message is not an accepted loan.

This is general information and does not constitute personal financial advice or a binding finance offer. What is suitable and possible depends on your circumstances and the lender's terms. Read the disclaimer.