An emergency situation rarely leaves time for reflection and does not always make the right choices. If you are looking for immediate credit, know that this is an important act that requires comparing different offers online .
Attention to money reserves
For the most part, personal loans make it possible to obtain financing without justifying the destination of the funds. We advise you to avoid revolving loans that are particularly expensive and opt for depreciable loans.
Compare the APR
The law requires credit institutions to post the annual percentage rate of charge ( APR ). This rate includes all the elements that come into the calculation of the cost, namely the interest rate, the fees and the insurance premiums. It is the only reliable comparator.
The different offers
The traditional banking network
The first step is to consult your bank. If you are already a client, it will be easier to assemble the file, as you will not have to provide certain documents such as bank statements or proof of salary.
If your cash requirement is less than 1000 euros, it may be easier to apply for a credit limit. Your request can be processed in 24 hours , but the cost will be higher. Be aware that the rate of agios can be negotiated.
If you are in a difficult financial situation, discuss it with your advisor and see what different credit alternatives are.
If you are not yet a customer, it will be more difficult to obtain immediate credit because you will have to build a complete file. On the other hand, know that you will probably be forced to change banks . In any case, if you are in a complicated financial situation, it is very likely that you are facing a refusal of loan.
This is probably where you will find the solution. Reactive and effective, online lending organizations offer immediate financing solutions that will allow you to use the funds as you see fit and immediately provide an answer in principle . Counterparty: the rates are very high.
The main actors
Most online credit players are backed by large banking groups. A dozen players share the market, which will be more than enough to compete . In addition to these lending institutions, brokers and other comparators offer their services. We advise you to compare the proposals of the websites of the credit companies and make a request on the main national brokers. The tools are very easy to use and you only have a few minutes to submit an application .
The fifth largest player in consumer credit with 4.5 billion in progress (in 2009) and 1,600 employees, COFIDIS offers its financing solutions online, but also through a network of partner brands.
SOFINCO is a subsidiary of Crédit Agricole. In 2010, it became Crédit Agricole Consumer Finance. At the same time, SOFINCO merges with FINAREF, another subsidiary of the group and becomes the European leader in consumer credit
Specialized in consumer credit since 1968, COFINOGA is the brand of the Laser Group, belonging to Galeries Lafayette.
The subsidiary of the General Electric Group remains one of the leaders in retail lending. It is present in France through a network of retail partners and about forty agencies.
Subsidiary of the banking group, BNP Paribas, CETELEM or BNP Personal Finance is a key player in consumer lending for individuals, but also the mortgage.
Subsidiary of CGL (Compagnie Générale de Location d’Équipements), a financial institution created in 1951, Finadea offers consumer and real estate loans.
Created in 1998, Médiatis is part of the LaSer group, whose capital is held equally by Galeries Lafayette and BNP Paribas
Table of instant credit offers online
|banks||Minimum amount||Maximum amount||Deadline for a principle answer||APR||Requested proof?|
|Cofidis||500 €||35 000 €||Immediate online||Personal loan: 2.92% over 12 months
9.12% out of 84 months
|Sofinco||150 €||40 000 €||Immediate online||Personal loan: 2.90% over 12 months
7,95% out of 84 months
|Cofinoga||500 €||€ 21,500||Immediate online||Project loan other than car or works: 3.50% over 12 months
7.50% over 60 months
|Cetelem||500 €||75 000 €||Immediate online||Loan other projects: 2.90% over 12 months
7.50% over 60 months
|Finadea||3000 €||€ 30,000||(Not given immediately, but by phone by a counselor)||Not disclosed||Unspecified|
The supporting documents to be produced
There is a real confusion about the receipts to be produced at the bank . Getting credit in the shortest possible time does not mean no checks. While you do not have to justify the destination of the funds, the bank does need some elements to provide the loan and can not rely on a simple statement.
The supporting documents that you will be asked for are the same as those used for the risk analysis of any loan taken out in an agency. This is why the release of the funds will not be done in 24 hours . Count at best a few days.
- Double-sided copy of the identity card
- Copy of the latest payslips (one to three depending on the organization)
- Copy of the latest tax notice
- Bank details
- Proof of address
- Check canceled
- If assigned loan: proof of purchase (purchase order or quote)
- Property tax if owner
- Bank statements
The essential points of the regulations in force
Recent reforms have strengthened the regulatory framework for consumer loans. Law No. 2010-737 of 1 July 2010 (Lagarde Law) aimed to better protect borrowers against the risk of over-indebtedness .
It introduces the notion of Global Annual Effective Rate (APR) which must appear on all offers, and moreover in characters of the same size as the promotional interest rate (thus ending the important inscriptions in illegible characters at the bottom of page). In addition, all advertising must be illustrated with an encrypted example.
You have probably already noticed this little sentence full of common sense: “a credit commits you and must be repaid …” The 2010 law requires the banks and other specialized institutions to include it on all their advertising.
You should also know that the Act requires lender organizations to consult the Personal Loans Repayment Incident File. Thus, if you are registered FICP , you have every chance to see you signified a refusal.
The revolving loans have been the subject of a greater protection, particularly in terms of information, particularly with the Hamon Law of March 17, 2014 .
Finally, faced with the growth of over-indebtedness situations, the Act has reduced the registration period for the FICP from 15 to 8 years and now, in the event of an admissible file, all the procedures in progress are stopped.