Critères pour choisir crédit personnel

How to choose the right personal loan offer: criteria and advice

A personal loan makes it possible to obtain money at a reasonable speed to meet an urgent need or to finance a project. This financing solution is very popular among individuals due to the relatively simple grant terms. However, given the variety of widths available in this field, choosing the right one requires taking into account a certain number of criteria.

So that you don’t regret your choice later, here’s what you need to know about how personal credits work, as well as items to consider before signing up.

What is a personal balance?

personal loan is A form of consumer credit worth less than €75,000 The repayment period cannot exceed seven years. It basically takes two forms:

Unallocated personal credit

Unassigned personal credit is a A loan granted by a bank or credit institution without proof of use or guarantee. The use of funds obtained under this type of loan is completely free, and the conditions for access to credit are reduced.

It is possible to sign up directly with an agency or through a specialized site such as LoanScouter France.

Personal Credit

As its name suggests, it is a file credit associated with a specific project, Such as buying a car, an appliance, financing a wedding, etc.

To obtain it, the individual must justify the use for which the funds will be used. This type of loan generally benefits from a more attractive interest rate and more flexible repayment terms.

What are the criteria for choosing a personal loan?

Whether it is an earmarked loan or a non-earmarked loan, a certain number of criteria must be considered before choosing a personal loan:

interest rate

The natural rate is the first element we pay attention to when looking for credit. It is appointed by the lender and varies from organization to organization.

But it also varies depending on the amount borrowed and the chosen repayment term. Run simulations to find the ideal amount and term for your credit.

but, Don’t just rely on the nominal price for you to choose. In fact, with some borrowers, application fees and insurance costs are also added to the amount borrowed.

And therefore, Instead, take the annual effectiveness rate (APR) as the reference. This is the rate that indicates all costs related to your loan.

Detailed credit terms

Don’t just take into account the interest rate for choosing your personal credit. also considered Additional terms set by the borrower.

For example, if within six months you receive a sum of money that allows you to settle your credit in advance, what terms will apply? The law provides facilities with the possibility to apply an additional benefit in this type of situation. However, you can negotiate it before you sign your loan agreement.

Use the comparison tool to choose the right personal credit offer

In order to compare several personal credit offers and find the one that best suits you, Online comparison useNot. It is a free and practical online tool thanks to which you can quickly compare the offers of several banks before signing up.

Simple and easy to use, the online comparison can also allow you to perform simulations according to your profile and the parameters you specify. This is undoubtedly one of the best solutions to get personal credit on the best terms for you.

Read also: How much is 100,000 euros invested per month?

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