Published on 27/04/2023
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New variable interest rate for cash advances as of 1 May 2023
The option to take out a cash advance against the cash value of a group insurance plan is a handy way to finance the purchase of a house or holiday home, or even to use towards paying off a mortgage loan. A benefit your staff members will surely appreciate. The variable interest rate is 2.95% as of 1 May 2023.
The option to take out a cash advance against the cash value of a group insurance plan is a handy way to finance the purchase of a house or holiday home, or even to use towards paying off a mortgage loan. A benefit your staff members will surely appreciate. The variable interest rate is 2.95% as of 1 May 2023.
The interest rate applicable to advances, is based on short-term rates on the financial markets and gets revised every year, either upwards or downwards. As a result of market evolutions, we have no choice but to raise the variable interest rate on cash advances with annual interest payments to 2.95%, as of 1 May 2023.
Your staff members have the option to take out a cash advance against their group insurance reserves for the purchase, construction or renovation of a home. They can also apply the advance towards paying off a mortgage loan.
Have a question about cash advances or the interest rate?
With the information above, you’ll have everything you need to advise your staff members on taking out a cash advance.
Have a
specific question?
Let us know at benefits@aginsurance.be and we’ll be happy to help you.
You can use the e-signature to speed up and simplify the application process for a cash advance.