Borrowing money can be done in various ways for a while. The days that this could only be at your bank have long been behind us. New, specific lenders are regularly added. Financial service providers are increasingly profiling themselves online and so on. A lesser known loan is the so-called private loan. Since 2015, this has been possible on the Belgian market via Maxinor.
Maxinor is a Belgian financial institution that offers loans to private individuals. Through their online Maxinor platform they make it possible for private individuals to lend money to other private individuals.
Different types of loans are offered:
- Renovation loan,
- Used car loan,
- Second-hand engine loan,
- Loan bicycle,
- Loan electric bike,
- Wedding loan,
- Student loan,
- Travel loan,
- Furnishing loan,
- Personal loan.
These loans amount to between € 1,250 and € 30,000 and the term is between 12 and 60 months depending on the amount borrowed. You can already borrow money from an APR (annual percentage rate of 2.90% *.
Your private loan through Maxinor in 4 steps
With the personal online loan from Maxinor you can borrow at attractive rates to finance your personal project. This is an installment loan. You can submit your private loan application directly online. Easy enough.
- Your request. Tell Maxinor why you are applying for funding, what your needs are and who you are.
- Analysis. On the basis of the information you have provided, Maxinor analyzes your application and whether that application fits your situation.
- Financing. The community of investors subscribes to financing instruments that enable Maxinor to finance your project.
- Final acceptance and payment. The amount of your application will be transferred to your bank account.
Remarkably, Maxinor rewards you for a correct repayment of the loan. They pay you back part of the processing costs of your loan application. Instead of giving a better APR to all borrowers, Maxinor wants to give priority to those who repay their loan correctly.
Protect yourself and your loved ones if you take out a private loan
You are therefore considering taking out an installment loan. At the same time, you want to protect yourself and your loved ones against loss of income in the event of death or full disability?
In that case Maxinor advises you to join you at MexoLoan Protection, a life insurance policy governed by Belgian law.
The benefits are as follows:
- Full repayment of the outstanding balance of your loan in the event of death.
- Payment of monthly installments in the event of full disability.
- No medical examination required. A health statement is sufficient.
You are of course free to arrange similar insurance with another company. Comparison is always the message.
The private loan from Maxinor summarized
Maxinor aims to return to the traditional banking system where the savings of one individual are used to finance the projects of another individual. At Maxinor, however, as a private investor it is possible to choose for yourself which personal projects you lend your money to.
Maxinor also uses “positive money”. By this they mean that they only lend money to people who want to make their dreams come true through a loan, but can also repay this installment loan. They are therefore very strict in the selection of borrowers, which is also good for private investors since they are more certain that they will get their money back with interest.
Start your loan application here!