Personal loan :
Apply for a personal loan
The personal loan can also be called:
- Depreciable personal loan
- Personal loan
The depreciable personal loan
- The duration of a personal loan is from 12 to 72 months.
- Its amount can range from € 3,000 to € 60,000 (with some exceptions).
- Its interest rate remains fixed.
You will be asked for a guarantee in order to obtain certain elements:
- The specificities of the lender institution (some lending institutions require a pledge or collateral).
- the type of loan (a vehicle loan will often be guaranteed by a pledge on the vehicle)
- customer risk
The most common personal loan guarantees are:
- the pledge of the financed good: the registration of a good in a special register in the prefecture which prevents its sale if the personal loan is not fully repaid or authorize its sale for the benefit of the lender lending institution if the deadline is not met.
- the surety: the demand for a guarantee is increasingly required by lending institutions, especially for loans from young borrowers.
WARNING: the personal surety is not an act to be taken lightly, because it can have important repercussions. Never endorse another person without having carefully thought about it. It is important to take into account that the surety has no real means of monitoring the borrower's situation. And therefore the surety having committed itself to the lender to repay the loan of the borrower if the latter proves unable to do so, this can therefore be problematic.
- sometimes, depending on the amount or purpose of the personal loan (provision of funds to a company for example), a mortgage guarantee.
Other definitions of the lexicon starting with the letter P:
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