A revolving credit is a type of loan where you have a flexible limit from which you can withdraw money as desired. You only pay interest on the amount that you have used and you pay a variable interest on this, which can therefore rise and fall.
In addition, you pay a monthly repayment which is a fixed percentage of the limit, usually 1-2%. Where necessary, money that has already been repaid can be withdrawn again.
This loan form is very flexible . You do not have to withdraw the entire amount and can always make extra repayments or know that you have already repaid. You only pay interest on the amount you use and can therefore influence the costs during the term.
You do not know exactly where you stand in advance. The interest can vary anyway. There is no fixed term because you can withdraw and repay at your own discretion, but you do have influence on that. In most cases, repayment usually takes longer than with a personal loan .
At the top of the page you see the real-time list of the lowest loan interest rates at the moment. Click on 'all loan rates' to compare specific loan types such as revolving loans or other types.