{"id":69286,"date":"2018-11-21T10:43:09","date_gmt":"2018-11-21T09:43:09","guid":{"rendered":"https:\/\/tcm.be\/glossarium\/instalment-loan\/"},"modified":"2026-01-14T23:05:04","modified_gmt":"2026-01-14T22:05:04","slug":"instalment-loan","status":"publish","type":"glossarium","link":"https:\/\/tcm.be\/en\/glossarium-en\/instalment-loan\/","title":{"rendered":"Instalment loan"},"content":{"rendered":"\n<p>The <strong>instalment loan<\/strong> is any credit contract for which a sum of money is placed at the disposal of a client by a bank or another credit agency in Belgium. The client undertakes to redeem the loan through regular payments according to a set per-month timetable and a fixed rate defined in the contract.<br><br>The <strong>instalment loan<\/strong> may more commonly be called a &#8220;personal loan&#8221;, or &#8220;consumer credit&#8221;. Many banks may also sometimes refer to it as &#8220;car credit&#8221; or &#8220;home improvement and\/or renovation credit&#8221;. All such various loans or credits are therefore instalment loans.<br><br>An <strong>instalment loan<\/strong> must therefore include the following characteristics:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The loan, placed by a lender at the disposal of a borrower, of a <strong>fixed amount<\/strong><\/li>\n\n\n\n<li>The <strong>repayment<\/strong> of that <strong>amount<\/strong> over a period that is mutually agreed in advance<\/li>\n\n\n\n<li>According to a set (per-month) <strong>timetable<\/strong><\/li>\n\n\n\n<li>And a fixed <strong>rate of interest<\/strong>.<\/li>\n<\/ul>\n\n\n\n<p>It should also be noted that, in Belgium, <strong>consumer credit<\/strong>, or the <strong>instalment loan<\/strong> , is generally strictly regulated (cf.: <a href=\"https:\/\/economie.fgov.be\/fr\/themes\/services-financiers\/credit-la-consommation\" rel=\"nofollow noopener\" target=\"_blank\">https:\/\/economie.fgov.be\/fr\/themes\/services-financiers\/credit-la-consommation<\/a>)<br><br>Updated 21\/11\/2018<\/p>\n\n\n\n<p>Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at\u00a0<a href=\"mailto:glossary@tcm.be\">glossary@tcm.be<\/a>.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-69286","glossarium","type-glossarium","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium\/69286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/glossarium"}],"about":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/types\/glossarium"}],"wp:attachment":[{"href":"https:\/\/tcm.be\/en\/wp-json\/wp\/v2\/media?parent=69286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}