A €15,000 personal loan at 7.5% over 60 months has a monthly payment (EMI) of about €300.57 and costs roughly €3,034 in interest. The same formula works for any fixed-rate annuity loan in the Netherlands, including house-improvement and car loans.
How is a loan payment calculated?
A personal loan (persoonlijke lening) in the Netherlands is almost always a fixed-rate annuity. You pay the same amount every month, made of interest on the remaining balance and a growing share of repayment. The EMI (equated monthly instalment) comes from the formula EMI = P × r × (1 + r)n ÷ ((1 + r)n − 1), where P is the loan, r the monthly interest rate and n the number of months. For a quick feel: at 7.5% each extra year of term lowers the payment, but the total interest increases noticeably.
Shorter versus longer terms
| €15,000 at 7.5% | Monthly payment | Total interest |
|---|---|---|
| 36 months | €466.59 | €1,797 |
| 60 months | €300.57 | €3,034 |
| 84 months | €230.07 | €4,326 |
Things specific to Dutch consumer credit
- BKR registration. Loans above a small threshold are registered at the credit bureau, and an active loan lowers your maximum mortgage, as shown in the maximum mortgage calculator.
- Maximum interest. The law caps the interest rate on consumer credit, and the cap is revised each quarter. Check the effective annual rate (JKP) in the offer, not only the nominal rate.
- Early repayment. Dutch law lets you repay a personal loan early, and the lender must refund unaccrued interest, usually with a small fee.
- Not tax deductible. Unlike mortgage interest, personal loan interest is not deductible. See the mortgage interest relief calculator for the difference.
EMI calculator for Netherlands residents from abroad
People from India or other EMI countries often use the word EMI for any monthly instalment. It is the same as the annuity payment above. If you are comparing a home loan, switch to the mortgage calculator, which handles interest relief and transfer tax. For a vehicle, the lease calculator adds a residual value option.
If you run into overdue payments, note that creditors can only charge limited collection costs: see the incassokosten calculator.
How to use this calculator
- Type the amount you want to borrow.
- Add the nominal annual interest rate.
- Set the term in months and any one-off fees.
- Compare the monthly payment and the total cost of credit.
Key figures at a glance
| Type | Fixed-rate annuity |
|---|---|
| Registered at | BKR |
| Tax-deductible interest | No |
| Check in offers | Effective annual rate (JKP) |
Frequently asked questions
Use EMI = P × r × (1 + r)^n ÷ ((1 + r)^n − 1), with r the monthly rate and n the number of months. The calculator above does this for you.
Rates vary with amount, term and creditworthiness. Compare at least three offers on the effective annual rate (JKP).
Yes. You can repay at any time, and the lender must reduce the interest accordingly, though a small fee can apply.
Yes. Monthly obligations lower the maximum mortgage a lender will give you.
For a loan there is no down payment, but borrowing less lowers total interest. Compare with your savings rate before deciding.