Need an online consumer credit? Several organizations offer financing solutions with a wide range of online credits.
More and more players are getting into online consumer credit. In addition to traditional banks, online banks, neobanks and online brokers are gradually developing in this market. What are their offers? Who are they for? Answers.
What are the consumer credit offers from online banks?
As a reminder, a consumer credit is a loan granted by a banking establishment in order to finance the purchase of a good or a consumer service of everyday life such as a car, a trip or even studies. It also allows you to meet unforeseen expenses.
Among the online banks, three offer a consumer credit offer: Hello Bank, BforBank and Boursorama Banque.
The consumer credit offer launched by Hello Bank makes it possible to borrow from 5,000 to 75,000 euros over a period of 12 to 24 months, with a fixed APR of 0.99%, all without application fees. To obtain it, it is possible to do an online simulation on the bank’s website. Then just open a current account or a joint Hello Bank account and make a request in a few clicks.
Thanks to its partner CreditLift, BforBank is able to offer its customers access to a range of personal loans without application fees or compulsory insurance. The personal loan, for an amount between 1,000 and 75,000 euros with a repayment period ranging from 12 to 72 months, can be used to finance all types of projects or cash flow needs. Customers can also take out a work loan (from 3,500 to 46,000 euros) or an auto loan (from 3,500 to 100,000 euros).
Finally, users with an account at Boursorama Banque can access the personal loan at the fixed rate of 0.75% APR from 10,000 euros borrowed over a period of between 12 and 48 months to finance various projects. The only conditions: to be a customer for more than 3 months, to justify a minimum amount of income, not to be registered on one of the files of the Banque de France.
What are the differences with the consumer loan offers from neobanks?
Neobanks and fintechs are also gradually entering the online consumer credit market. Among the few to offer this type of product, we find Shine, which has launched an unprecedented offer for professionals. This allows auto-entrepreneurs to obtain a cash loan of up to 30,000 euros over a maximum of one year or an investment loan of up to 70,000 euros over a maximum of 5 years. Subscription is simple and quick: everything is done online and once the file has been validated, the funds are paid into the applicant’s account within 72 hours.
The neobank Orange Bank has also entered the consumer credit market. Its current offer allows you to take advantage of an exceptional rate of 2.99% fixed APR, with an amount borrowed from 5,000 euros repayable over a maximum of 36 months.
Thus, promotional offers and the subscription process are the two main points that differentiate online banks from neobanks in terms of consumer credit.
What are the consumer credit offers offered by online brokers?
The role of consumer credit brokers is to obtain the best borrowing conditions from their partners. Several players are present on this market, including Meilleurtaux.com, an expert broker in mortgages, credit redemption, borrower insurance and consumer credit.
Brokers should not be confused with organizations specializing in consumer credit such as Cofinoga, Oney, Cetelem or even Cofidis.
It may be wise to go through a consumer credit broker to do an online simulation and find out the amount of your future monthly payments, to compare offers, save time and make significant savings, or to learn more about how this type of credit works. The broker is responsible for comparing the offers on behalf of his clients and is only paid after the signing of the credit agreement. In other words, soliciting his services does not commit to anything.
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