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Monthly term of revolving credit
The monthly installment of a revolving credit consists of interest and repayment. The interest is variable so that the part of the repayment can change within your monthly installment. If the interest rate rises, you pay less in repayment on your revolving credit and if the interest rate falls, you repay more on your revolving credit. You can make extra repayments on a revolving credit in whole or in part without penalty.
You will regularly receive a balance statement to keep you informed of the state of affairs. This shows all movements of the relevant month (s), payments, withdrawals, the calculated interest, the effective interest on an annual basis, the amount that you can still withdraw and the amount that you still owe, apart from the interest. You will also find the theoretical duration on this overview; the number of months that you still have to repay at the then current interest rate. That is, if you do not withdraw anything or make additional payments and the interest remains unchanged.