Obtain a personal loan at zero rate
When you have a project in mind and want to take out a loan, it's not easy to navigate. There are indeed a multitude of different credits and it is essential to know the difference between each one in order to be able to choose the one that is most suited to your needs. We decipher for you the different types of existing loans and give you some advice to obtain a personal loan at zero rate.
Projects, you surely do not miss them, like many of us. On the other hand, it is sometimes difficult for finances to follow to achieve them all. We take stock with you on the different types of loans so that you can better identify yourself in the field of credit and choose the one that will be most suited to your current project.
Home loan, assigned credit or personal loan online , we explain everything in this article.
The different types of credit
The first credit that we will tell you about is the mortgage, since the latter is one of the essentials. As its name suggests, the real estate loan aims to finance real estate projects. Depending on the profile of the borrower, the cost of this mortgage varies from 3 to 7% and the duration of this credit can be from 10 to 30 years. Today, most lending institutions require borrowers a minimum contribution to finance the property and to benefit from a better credit rate. When taking out a home loan, it is advisable to take out loan insurance to reduce the risk of non-repayment or over-indebtedness.
Second type of credit: auto credit. Here again, no surprise, the purpose of the auto loan is to help you finance a new vehicle. The duration of this credit varies from 1 to 4 years and its cost also depends on the profile of the borrower but generally varies between 2 and 6% depending on the credit organization.
Third type of credit and the most interesting: consumer credit. The latter can take several forms and helps individuals on a daily basis. For example, it is possible to choose this loan to finance your vacation or to take advantage of sales. It is possible to borrow a few sums and repay them quickly. Easily accessible, consumer credit has a major drawback: if the borrower neglects his repayment capacity, he can quickly find himself in debt.
The different types of consumer credit
Depreciable credit, adjustable rate credit, flexible credit, in fine credit, bridging credit, personal loan or even pawnbroking, know that there is a multitude of consumer credit so each has its specialty.
Depreciable credit is the most common form of borrowing. It can be a consumer credit or a mortgage, a fixed rate loan or a variable rate loan. Its characteristic is that each maturity reimburses both interest and part of the borrowed capital (this is the amortization of the capital). It is a generic term used as opposed to a credit in fine (with term repayment).
With a revisable rate loan (also called variable rate), the interest rate will be indexed to an index and can therefore move up or down. This automatic change in the rate can then impact either the repayment period or the monthly payment (or both). The variation of the rate can be capped compared to the initial rate, this is called a capped rate.
Finally, the personal loan is a loan that allows the purchase of goods without any proof. Thus the borrower spends the amount borrowed as he sees fit to finance the projects of his choice. Personal credit can therefore be used to balance cash flow, but also for various purchases (furniture, vehicle), work or travel. The duration and the amount of the loan are defined at the outset, they are not flexible thereafter. This allows the borrower to know in advance how much they will repay each month and when their loan will end. Be careful, the personal loan should not be confused with the microcredit which is a credit without proof of income unlike the personal loan which requires a minimum source of income.
The conditions for obtaining a personal loan at zero rate
Obtaining a personal loan at zero rate is very interesting since you only repay the borrowed capital. In order to be able to apply for a zero rate loan you must meet a number of conditions in terms of your personal situation and your income. There are limits that depend both on the number of people in your household, but also on the area of your future home.One of the main points to get a zero interest loan is to have a project that is itself eligible. These are specified by several articles of law presented in the housing construction code. Applying is quick and easy and may save you money.