The advantages of a personal loan at Younited Credit
Currently, many households have insufficient cash to realize life projects. In the event of an unforeseen situation, this lack of cash can be just as problematic. With Younited Credit, obtaining an online personal loan associated with key advantages is possible. We guide you. Organizing a wedding, going on a trip, buying a car or doing work… Very often, these are expensive life projects that require borrowing money. We accompany you to see more clearly and above all to choose the right funding organization. Discovery of key personal loan information online.
| Your Personal Loan at Younited Credit | |
|---|---|
| Project | Personal loan |
| Amount of the loan | €1000 to €50,000 |
| Loan term | 6 to 84 months |
| call rate | From 0.1% Fixed APR |
| Response time | Immediate definitive response* |
| Credit type | depreciable |
| Rate Type | Fixed |
100% online loan application
Complete the application form and sign your contract online, from your computer, mobile or tablet.
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Make an express request and get an immediate definitive answer * for your personal loan. Fast. Simple.
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What is a personal loan in definition?
By definition, the personal loan is a consumer credit not allocated to a specific purchase. To this end, the amount borrowed through this type of financing can be used for multiple purchases (car, motorcycle, real estate, work, travel, etc.).
As a result, it is not necessary to present the bank with a purchase invoice, which is customary for assigned loans. As its name suggests, the assigned credit is a loan that allows you to carry out a specific project exclusively: car purchase, work, etc.
Objectively, the unrestricted loan meets a need for quick cash. Moreover, the subscriber is free to use the financial funds as he sees fit. Among many other possibilities, this loan of money can be used to finance the purchase of a consumer good, such as a refrigerator, a wedding, the arrival of a new child,…
What are the advantages of the personal loan?
With regard to borrowers, obtaining a personal loan makes it possible to benefit from a sum of money at the right price at a competitive rate. With Younited Credit’s 100% digital platform, interest rates are among the most competitive on the market for an amount between 1,000 and 3,000 euros.
With this in mind, the loans offered are at fixed rates , exclusively repayable, with constant monthly payments and no hidden costs. In addition, the credit platform for individuals uses technologies for analyzing loan applications that make it possible to finance a project in record time.
Where can I make a personal loan?
In concrete terms, it is possible to make a personal loan either from a bank or from a financial organization specializing in money loans. Whatever the choice of the subscriber, the repayment of the sum of money borrowed is carried out in a conventional manner each month.
It is still important to pay particular attention to the services offered by the lending bank. The idea is to be able to take out your loan efficiently to obtain financial funds in a minimum of time. This need is part of Younited Credit’s DNA. Offering loans at the best price is the priority of the personal credit platform.
In terms of duration, the cost of the monthly loan payments varies according to the amount of the loan and the financial capacities of the applicant, according to the conditions stipulated in the contract. As an indication, the monthly payments also evolve according to 4 main criteria:
- Total amount of credit.
- Duration of funding.
- APR (Global Effective Annual Rate).
- Cost of optional borrower’s insurance, if applicable.
Personal loan: what is the difference with revolving credit?
Objectively, the personal loan and the revolving credit have one thing in common. These types of credit make it possible to realize one or more projects (car purchase, financing of work in your home, etc.), in one or more times.
However, revolving credit is a reserve of money from which the holder can draw as and when needed, within the limit of the ceiling set by the bank. The particularity of the revolving credit is that this reserve of money is reconstituted over the repayments.
For this reason, it often happens that consumers are tempted to go beyond their financial capacities to make a pleasure purchase that goes beyond the usual purchasing framework. Especially since this process is simplified by the almost systematic acquisition of a credit card. In the context of revolving credit, the operation of a credit card associated with the revolving loan is identical to the use of a traditional payment card.
The only difference is that the borrower has the possibility of drawing directly from his reserve of money during a purchase in store. When paying for his purchases, the consumer has two options. After inserting their card into the electronic payment terminal, they can choose the following options:
- Cash payment,
- Payment on credit.
As for the personal loan, it is a loan paid by the bank in one go. Unlike revolving credit, the personal loan allows you to better manage your budget with the knowledge of the exact amount borrowed and the amount of money remaining to be repaid.
Amount and duration of the personal loan: how does it work?
At first glance, the personal loan is governed by the Consumer Code. In terms of duration and amount, this legal framework defines the best practices that banks must apply to their loan offers. As such, it is possible to borrow from Younited Credit a sum of money between 1,000 and 50,000 euros.
As for the repayment period, it is possible to stagger its repayments over a period of 6 to 84 months. In general, the first monthly payment takes effect 30 days after the financial funds are made available. For this first monthly payment, the exact date of withdrawal is stipulated in the consumer credit agreement.
Depending on its goodwill, the lender can also offer a payment deferral of 2 to 3 months. At Younited Credit, the first monthly payment at a fixed interest rate is taken on the 4th of the second month following the provision of financial funds. Here is an element that works in favor of the subscriber to give new impetus to his budget.
Good to know : The Global Effective Annual Rate of consumer credit varies in particular according to the amount and duration of the loan. With the 100% digital credit platform, this APR remains fixed throughout the defined repayment period. For information, the APR includes all the costs attached to the credit.
3 key conditions to get a fast online personal loan
To obtain a fast online personal loan, it is essential to meet several prerequisites. The objective of the bank is to have the guarantee that the money loan can be honored without difficulty, until the end of the repayment period.
Within the limits of the legal framework for consumer credit, these conditions are determined by the banking establishments independently. To increase your chances of obtaining a favorable opinion on your credit application, it is still possible to determine 3 key conditions analyzed systematically in their entirety:
- Personal situation : age, family situation (single person, married, civil partnership, dependent children, etc.), tenant or owner subscriber, etc.
- Professional situation : type of employment contract (permanent, fixed-term, temporary, etc.), professional status, amount of household income, etc.
- Financial situation : banking habits, use of an authorized overdraft, banking incidents, other current loans, etc.
These essential conditions aim to secure the banking operation, with regard to the risk taken by the financial institutions. Nevertheless, a professional activity carried out on a temporary basis, for example, is not an obstacle to accessing credit.
In this order of ideas, the bank can propose the subscription of the loan with a co-borrower. To carry out a larger project (purchase of a new car, work, etc.), the subscriber is also able to increase the amount of the sum of money that it is possible for him to borrow with the presence additional income.
What is the lowest personal loan rate?
To determine the lowest personal loan rate, the method consists of analyzing the criteria that impact loan interest rates. Based on his personal profile and comparing the loan offers available on the banking market, the subscriber can then choose the most attractive personal loan.
Concretely, the lower the interest rate associated with the personal loan, the more the financing works in favor of the subscriber (insurance included, if applicable). It also turns out that the practices of banking establishments are governed by the usury rates for personal loans, updated quarterly by the Banque de France.
For your information , usury corresponds to the interest on a loan of money for which the rate is considered excessive. By definition, the usury rate is the effective overall and legal maximum interest rate that credit institutions are authorized to charge to grant credit to consumers.
These wear rates are part of the category of cash loans, under consumer loans. According to the Banque de France, here are the average effective interest rates (3rd half of 2022) and wear and tear rates for consumer loans in force in the 4th quarter of 2022:
| Wear rate of consumer loans in the 4th quarter of 2022 | Average effective interest rate of consumer loans in the 3rd quarter of 2022 | |
| Amount less than or equal to 3000 euros | 21.16% | 15.87% |
| Amount greater than 3000 euros and less than or equal to 6000 euros | 10.13% | 5.95% |
| Amount greater than 6000 euros | 5.33% | 4% |
Cash loan: the answer to the urgent need for money
In principle, the cash loan for individuals is a consumer credit associated with a fixed or variable APR. As with other loans, the cash loan is necessarily the subject of a contract that binds the bank and the subscriber. In a way, the latter undertakes to honor his monthly repayments.
The amount of these monthly payments depends on the duration of the loan, the total amount obtained and the interest rate applied. The main advantage of this loan is the possibility of using the sum of money as a safety net, without having to provide proof of purchase or to make specific use of it. Here is the essential reason which explains the speed of obtaining to concretize its project of life as quickly as possible.
For information, the cash loan differs from the cash loan for businesses in several aspects. More specifically, the cash loan for businesses works differently. In this case, this borrowing solution refers to agios, in comparison with the cash loan for individuals based on monthly repayments and an APR.
Similarly, cash flow financing for companies does not have optional insurance provided for in the contract. This loan takes the form of an authorized overdraft through 3 cash loans granted to a company:
- Traditional bank overdraft.
- Overdraft facility.
- Campaign credit.
Personal loan at low rates: 9 information to analyze
Overall, each bank independently determines the financing conditions associated with their offers of personal loans at low or higher rates. However, these financial organizations are required to provide borrowers with essential information to allow the analysis of the proposed credit offer in complete transparency:
- Identity and address of the lending bank.
- Contract length.
- Type of credit: assigned, renewable,…
- Amount of capital borrowed.
- Total amount due.
- Conditions for making the sum borrowed available.
- Total cost of fees: interest, insurance, administration fees, etc.
- Withdrawal period.
- Indemnities to be paid in the event of late payment.
These elements are all key information that allows the applicant to know if the loan is suitable for his financial situation and his needs. To be sure of obtaining a profitable and competitive loan of money, it is important to pay particular attention to the analysis of these elements before committing.
How is debt capacity calculated?
An essential factor in the analysis of borrowing files, debt capacity represents the financial capacity that households are able to grant to repay their debts. The purpose of this decisive element of measurement is to prevent and limit the risk of over-indebtedness of French consumers.
It turns out that the debt capacity calculated by banking organizations plays a key role in the financial situation of subscribers. To minimize their risk taking, banking establishments determine that debt capacity influences the following 3 points:
- Purchasing ability.
- borrowing capacity.
- The maximum monthly loan payment.
Calculated on the basis of borrowers’ income and expenses, the maximum debt capacity rate should enable each individual to maintain a balanced financial situation. To calculate its borrowing capacity, it is necessary to first determine its debt ratio.
To guide your analysis, the maximum debt ratio for consumer loans is 33%. Note that since January 1, 2022, the maximum debt ratio for mortgages is 35%. Beyond these thresholds, the probability of obtaining a favorable opinion on a credit application is negligible.
How to increase its debt capacity?
To increase its debt capacity, there is a simple and effective solution. Do you have several outstanding loans? In this case, it may be useful to consider the repurchase of credit. By opting to consolidate your current loans, you benefit from a new single monthly payment associated with a single interest rate.
The advantage of this approach is that it is possible to obtain additional cash at the same time to carry out a new project, while still benefiting from a single monthly payment. This solution is favored by an increasing number of borrowers. By choosing to reduce their budget devoted to lending money, households gain above all in purchasing power.
Personal loan with Younited Credit: the innovative credit solution
In Europe, Younited Credit is the only retail lending platform that has its own credit institution license. This approval is issued by the ACPR (Prudential Control and Resolution Authority) under number 16488.
Among the multitude of credit organizations in France, the digital platform is also the only one to offer loan offers between individuals. The principle of this mode of operation is simple. Professional investors (individuals, companies, insurers, foundations, pension funds, etc.) directly finance the personal loans of French households.
Through this alternative and innovative solution, the digital credit platform is revolutionizing the traditional banking system. The goal is to make money lending fairer and more transparent. In this context, it is the savings of investors that finance the personal loans of households.
In comparison with the traditional financing offered by a bank, Younited Credit places innovation at the heart of its service. The objective of this approach is to offer a cheaper , faster, totally transparent and secure loan solution . Want to know more ? All you have to do is request your personalized offer through the personal loan simulator.
How to get a fast personal loan easily?
To obtain a quick personal loan easily, it is advisable to perform a personal loan simulation first. On the one hand, the online credit simulator makes it possible to compare loan offers on the banking market in record time.
On the other hand, the subscriber makes his credit request in a few minutes. Obviously, applying for a loan of money online is a wise choice. Insofar as the credit application is processed 100% online, the time required to obtain financial funds is all the more accelerated.
In comparison with a credit application submitted to a traditional banking establishment, the online personal loan allows you to realize your life projects in a minimum of time. Here are the key steps that make getting a quick personal loan easy:
- Build your personal loan file: to put the odds on your side to obtain a quick personal loan, the goal is to build a solid financing file. In this way, the borrower immediately submits a complete loan application to the lender.
- Start your quick personal loan simulation: from here, the principle is to introduce the essential information to view the loan offers adapted to your personal profile.
- Determine the amount to borrow: from 1,000 to 50,000 euros.
- Choose your optimal repayment term: this term can be spread over a period of 6 to 84 months. For notice, it is important to choose a term that respects your ability to repay over time. In this sense, the new money loan must allow you to maintain a fair financial balance throughout the repayment period.
- Acceptance of credit: depending on the financial situation of each subscriber, this acceptance depends in particular on the borrowing capacity, the amount of the monthly payments or the capital borrowed.
- Payment of financial funds: the sum of money borrowed can be used to finance the purchase of a car, a product/service, or any other service. Note that it is possible to use the borrowed capital in whole or in part.
How to get a personal loan at the best rate?
To find a personal loan offer at the best rate and reduce the cost of borrowed capital, the method consists of comparing the offers on the credit market. To access low-rate loan offers, the ideal alternative is to use the personal loan simulation directly online.
Currently, the majority of banking establishments have a credit simulator accessible from their website. With Younited Credit, you can be sure to simulate your personal loan offer at low rates without commitment.
The objective of this state-of-the-art digital tool is to guide borrowers to enable them to benefit from a loan of money at the right price associated with exceptional processing speed. Discovery of the principle of the rapid personal loan simulation:
Personal loan and fast credit simulation: what is the principle?
In principle , the purpose of the personal loan simulation is to save consumers time and money. By submitting an express request online, you get an immediate response in principle and a final response within 24 working hours. If you use our banking connector, you will get a definitive answer instantly. It is also useful to know that the automation of credit applications has a major advantage.
Based on this automation system, it becomes possible to achieve objective and instantaneous decision-making. For example, this automation avoids biased decisions and intrusive questions. Finally, the digital platform opens the black box of the personal loan. More specifically, the applicant is informed transparently and in real time of each step in the processing of their file:
- By text message,
- By email,
- Through its customer area.
Overall, all the explanations around personal credit and the progress of the processing of the file are provided by our advisers who can be reached by e-mail, chat, Facebook Messenger and by telephone.
As for the funds lent to individual consumers, these come directly from the investments of our community of investors. To do this, the digital platform rigorously studies the creditworthiness of borrowers. In case of refusal, each applicant is informed instantly.
What is the role of borrower insurance?
Regardless of the nature of the personal projects to be realized, the lender may require the borrower to take out insurance. Although the subscription to the borrower’s insurance is optional, some credit organizations require that the banking operation be secured by means of this insurance. However, it is up to the borrower to go to the insurer of his choice.
In any case, it is in the interest of the borrower to think about taking out this optional insurance. In the event of a consecutive payment incident following a loss of employment or death, for example, the insurance is responsible for reimbursing the capital remaining due to the bank.
What documents to provide for a personal loan?
Depending on each personal situation, the acceptance of a personal loan depends mainly on the applicant’s resources and assets. Therefore, it is essential to ensure upstream that his financial situation and the targeted capital allow the subscriber to meet the monthly payments to be reimbursed.
For the assembly of the personal loan file, it is necessary to provide the supporting documents required by law or in accordance with the practices of banking establishments. With regard to Younited Credit, it is not required to provide original documents. All you have to do is upload the supporting documents from your personal space on the 100% digital credit platform.
This approach is completely secure at each stage of the process. The digital security of borrowers is at the center of Younited Credit’s priorities. In short, it is essential to provide a complete file to be able to obtain a loan offer. Discovery of the 3 main supporting documents required by credit organizations:
- Proof of address less than 3 months old.
- Proof of income: last 3 pay slips, tax or non-tax notice,…
- Valid ID.
In some cases, some organizations are able to request other types of supporting documents. At Younited Credit, the objective is to issue a personal loan without non-essential proof, by concentrating the strictly essential documents. This action is possible thanks to the innovative digital tools of the credit platform, which make it possible to analyze the financial situation of applicants in an even more efficient way.
Online personal loan: what to remember
- The acceptance of a personal loan depends on the borrowing capacity of the applicant. In short, the borrower must be able to bear the amount of the monthly payments, depending on the capital borrowed and his financial situation.
- The amount of the loan varies from 1,000 to 50,000 euros. As for the repayment period, the latter can be spread over a period of 6 to 84 months. In addition, it is possible to finance the purchase of a consumer good or any other service.
- To secure the financial situation of borrowers, the law regulates the practices of financial organizations with the application of a maximum debt ratio. This rate has been 33% for consumer loans and 35% for mortgage loans, since January 1, 2022.
- The calculation of debt capacity takes into account the subscriber’s debt ratio, income and expenses.
- Borrower insurance is optional, although some lenders may require it to be taken out. Either way, the choice of insurer is up to the borrower.
- Depending on the nature of the life project to be carried out, the online simulator is a particularly effective digital solution. In a few minutes, this state-of-the-art tool makes it possible to compare the total cost of credit, in comparison with competing credit organizations. It is even an essential step to take before subscribing to a quick personal loan contract. To date, most banks and credit organizations have a credit simulator on their website. By choosing to trust Younited Credit, it is within everyone’s reach to carry out a personal loan simulation online free of charge and without obligation. It is even possible to repeat this process as many times as necessary.
- The personal loan simulation makes it possible to analyze credit offers in record time. This innovative digital tool makes it possible to obtain credit at low and competitive rates. Overall, the personal loan simulator is the answer to the need for cash on credit at the right price.
In short , choosing to take out a personal loan online with Younited Credit means opting for key advantages included in a systematic way. Do you want to accelerate your life projects? The personal loan simulation guides you step by step to save time and money.
A quick cash loan via a personal loan
The cash loan for individuals is neither more nor less than a consumer credit. This type of consumer credit can be fixed or variable APR.
As with any other consumer credit, the cash loan is necessarily the subject of a contract binding the bank and the borrower. The borrower must pay what is called monthly repayments. The amount of these monthly payments depends on both the duration of the consumer credit, the total amount borrowed and the rate applied. The big advantage of the cash loan? The borrower can simply use the sum granted as a safety net without having to provide proof of purchase or to make any particular use of it. This is largely what explains the speed of obtaining cash credit!
The cash loan for businesses works differently. Here, there is no question of monthly repayments or APR, but of agios. There is also no optional insurance provided for in the contract. This credit actually takes the form of an authorized overdraft. Three main types of cash loans can be granted to a company:
- The classic bank overdraft;
- Overdraft facility;
- Campaign credit.
Information to be provided by the lender
In their offer, financial institutions are required to mention in particular:
- The identity and address of the lender;
- The duration of the contract;
- The type of consumer credit;
- The total amount due;
- The amount of the credit;
- Conditions for making the sum borrowed available;
- The total cost of fees;
- The existence of a withdrawal period;
- Compensation to be paid in the event of late payment.
So much information that allows the applicant to know if the credit is adapted to his financial situation and his needs.
Personal loan at Younited Credit: an innovative consumer credit solution
At Younited, we offer you a new 100% online personal loan experience for the financing of your project; you can sign your contract remotely and directly download the documents needed to complete your personal credit file. This online personal loan application experience is intended to be simple, fast and transparent. A financing solution that allows you, in addition, to benefit from a particularly attractive fixed annual borrowing rate (or annual effective annual rate). Enough to give life to your car, work or other project without having to worry about the next day!
In Europe, Younited Credit is the only consumer loan platform for individuals with its own credit institution license issued by the French Prudential Control and Resolution Authority (approval number 16488).
With this alternative and innovative solution, Younited Credit is transforming the banking system to make it fairer and more transparent with a model in which savings are used to finance personal loans for households.
Alongside the “classic” financing possibilities of banking establishments, Younited Credit puts innovation at the heart of its service in order to offer a cheaper , fast, transparent and secure loan solution .
Ask now for your personalized offer!
Personal loan: the advantages of Younited Credit
For borrowers, using Younited Credit means benefiting from a personal loan at fair and competitive rates. Our rates are the most competitive on the market between 1,000 and 3,000 euros. We exclusively offer depreciable personal loans, at fixed rates and constant monthly repayments, with no hidden costs.
We give you the benefit of exceptional speed: our technologies for analyzing personal loan applications make it possible to finance a project in record time; a response in principle is given immediately at the end of your personal loan application online. Once your file is completed from home, a final response is sent within 24 hours or instantly if you opt for the bank connection.
The automation of certain credit application processing allows objective and instantaneous decisions, avoiding biased judgments and intrusive questions.
Finally, the borrower is thus informed transparently and in real time of each stage of the processing of his file, by SMS, email and on his customer area. The explanations on his personal credit and the progress of the processing of his file are provided to him in simple and understandable terms by our advisers who you can contact by e-mail, chat, Facebook Messenger and telephone.
The funds loaned come directly from the investments of our community of investors: Younited Credit must rigorously study the solvency of the borrowers, and in the event of refusal informs them instantly.
In order to find the most attractive offer, and thus reduce the total cost of your personal loan, a comparison is essential. To find out about our rates and finance your car, work or other projects at the best price, do a personal loan simulation directly online. !
