The interest credit looks a lot like the revolving credit.
Also with the interest credit you have the option to withdraw unlimited amounts up to a set limit. With a standard revolving credit, repayments are made of the money that you have withdrawn during the term. With the interest credit, this repayment is not an obligation. The monthly payment of the interest is sufficient.
With an interest loan you agree a credit limit with the lender. You cannot withdraw money above this amount. Within the limit you are free to withdraw money whenever you want. You have no obligations regarding the spending purpose of the withdrawn money. You only pay interest on the amount that you have withdrawn. With the interest credit you have no obligation to repay. However, a period is set in advance with the lender for the absence of that obligation. After the previously agreed repayment period, the lender will examine whether you are eligible for a new repayment period. If this is not the case, the interest credit is converted into a revolving credit and you pay a certain amount per month in both interest and repayment. After the grace period has expired, you can also choose a form of repayments yourself. A grace period often consists of five years.
There is no maximum term for the interest credit.
In principle, you can take as long as possible about the repayment. This allows you to be stuck with the interest credit, and the debts, for a fairly long time. That is why the interest credit is often chosen when you know that in the future you will have enough money to repay. The interest credit is often requested by people who are just married or at the start of their career.
You must be at least 18 years old to take out an interest loan. The maximum age is in many cases 65 years. You must also have a permanent employment contract in order to be eligible for an interest credit. Social security benefits are not included. The interest that you pay is variable during the entire term and can therefore vary per month. As with other loans, the interest rate is determined by, among other things, the market interest rate. Because you are not obliged to repay during a certain period, the interest credit has the lowest monthly costs compared to other loans. At the end of a payment period with only interest you can pay off the borrowed amount in one go.