Consumer credit

 

Consumer credit is a credit that makes it possible to finance a project or the purchase of a consumer good. As it is a credit granted in the form of a loan, the borrower must go to a lending institution to conclude a contract. Consumer credit is generally regulated by law, in order to protect consumers. So, if you want to get a loan, follow the necessary steps.

 

Consumer credit: what is it?

 

A Consumer credit is a credit granted by a financial institution to an individual, intended for non-professional purposes. Thus, it can finance the purchase of a consumer good (furniture, appliances, car, …) or a personal project, such as carrying out work in your house. As a result, consumer credit allows to balance your budget and to spread your debts. With theconsumer credit at Cofidisyou can get a loan from up to 2,000 euros.

 

A loan of great flexibility

This is a type of credit that does not require any proof, when requested. Additionally, you can use the money to finance all your personal needs. The repayment of the credit can be done at any time and without additional costs.

 

Consumption credit at fixed rate or at adjustable rate

Basically, there are two types of Consumer credit:

• the Consumer credit: it is a fixed rate loan which is used to finance important projects. The amount of the loan can go up to 5,000 euros and the interest rate remains unchanged throughout the duration of the loan;
• the revolving credit: this is the offer adapted to small amount purchases (appliances, furniture, etc.). In addition, it allows you to draw money whenever you need it, up to the limit of the amount available.

Which loan to choose?

 

It should be noted that the loan you are requesting must be consistent with your goal. In any case, whatever the type of credit. the contract must include the following information:

• the details of the lender;
• the type of credit;
• the amount, duration, effective rate;
• the number of installments;
• the right of withdrawal;
• the mention the reference : “A credit commits you and must be repaid. Check your repayment capacity before you commit. »

What are the documents to provide?

 

All borrowers are required to provide information concerning:

• their identity,
• their address;
• their charges;
• their monthly or annual income;
• their outstanding loans (if any).

In the case of a loan for an amount of 3,000 euros, the borrower is required to present additional supporting documents (tax notice and pay slips). It should be noted that the information provided must be signed and certified by the borrower.

 

Consumer credit: what does the loan offer contain?

 

After approval of your loan demand by the financial institution, the latter must present the offer to you in duplicate. This document generally mentions the following elements:

• the amount of the loan granted;
• the credit rate;
• the method, duration and frequency of reimbursement;
• the annual percentage rate of charge.

What are the limits of a consumer credit?

 

Certain consumer loans cannot be approved because of their amount, their repayment period and the destination of the loaned funds. Indeed, the credits of a amount greater than 75,000 euros cannot be considered as consumer credit.

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