Personal loan, adapted formula = better rate!

Do you have a project that is important to you or unforeseen circumstances that are upsetting your budget? Personal loan may be the solution for you.

Why enter into a personal loan application?

Discover in this article our advice to know if this formula is adapted to your situation but also to learn how to obtain the best rate!

Why enter into a personal loan application?

Also known as installment loan or consumer loan , the personal loan is the solution to help you to realize your projects or to manage the unforeseen of the everyday life .

Whether you want to make a great trip, organize an unforgettable party for your wedding, finance your children’s education, equip you with the latest IT technology or face unforeseen expenses, the personal loan is the formula that you if you do not have enough cash.

What are the advantages of the personal loan?

Personal loan has several advantages:

  • No justification for the reason for the financing: no purchase invoice will be required
  • Fast : the money is directly transferred to your current account (within 48 hours after the signature of the contract)
  • Customized offer
  • Few administrative formalities
  • No surprise : the refund amount is identical every month

How to get the best rate?

Several variables influence the monthly payments that your broker or banker can offer you. Since the personal loan is a fixed rate loan (the “APR”, ie the annual percentage rate of charge), it is important that each of the parameters to be defined when a personal loan is made is the most appropriate. to your situation.

We advise you to borrow the amount necessary for your needs but no more. As part of an installment loan, you should know that the borrowing capacity varies between € 1,500 and € 75,000. You will not be able to borrow more because the maximum threshold of € 75,000 has been set by law (the Consumer loan Act of 12 June 1991).

A second element influences the monthly repayments: the duration of your loan . The latter varies between 6 and 120 months maximum and must be defined according to the amount that has been borrowed.

Our personal loan simulation tool can help you determine the period that best suits you.

Do you want personalized advice? Send us your loan application , one of our advisors will contact you as soon as possible to discuss it with you.

Leon Kaplan Author