Personal loan at the best rate

Personal loan offers are plentiful and it can be difficult to find an offer at the best rate. Here you will find some tips. Read

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Personal loan at the best rate

A personal loan can be used to finance any type of project and provides a borrower with a sum of money which he can dispose of as he wishes, without having to justify its use. However, between the different banks and credit agencies, it is not necessarily easy to make a choice and find an offer at the best rate.

The importance of a good record for a better rate

To get the best rate for your personal loan , it is first and foremost imperative to have a good record to apply for credit. The lender, whoever it is, will first assess the borrower's situation in order to get an idea of ​​their repayment capacity. If the customer is in an advantageous situation, the bank or institution specializing in credit to which he applies will have more reasons to offer him an attractive rate. The rate is revised according to the borrower's profile, so the lower the risk of non-repayment that the lender incurs by granting the personal loan, the more likely the borrower will be to obtain a better rate.

If you want the best rate, take stock of your situation first. Make sure you have a stable professional situation. A permanent job, for example, could work in your favor, especially if you have held a certain position for several years with the same company. It is also important that your salary is sufficient so that you can meet your fixed monthly charges while having a significant amount of left over to live (the key indicator of your household's standard of living). This will give you more chances to get a better rate for your personal loan.

A stable financial situation, the key to obtaining a better rate

Also make sure not to have too many credits already in progress when you apply for a loan because a surplus of current loans will increase your debt ratio and thus, the risk incurred by the financial organization which grants you the loan. staff. The lower your debt ratio, the more likely you are to get a better rate. It should be noted that if it exceeds 33%, you will have very little chance of obtaining a personal loan, no matter which lender you turn to. It will be the same if you are registered with the FICP (file of incidents of payment of credits to individuals) or if you are banned from banking. If you ever have a bank history that isn't working in your favor, it could make it harder to apply for credit. On the other hand, if you are in a stable financial situation and you have not been in an overdraft situation the few months preceding your personal loan application, it will be easier for you to obtain a better rate for your credit because this will make your application more attractive to the lender.

Use a comparator to find the best rate

There are a lot of personal loan offers on the market. So, to find the best rate, it is necessary to compare them. For this, you can use an online credit comparator which will have the advantage of being completely free to use and without obligation. This will allow you to do your research for the most interesting rate and find immediate credit without proof while having the possibility of staying in the comfort of your home. You will then be able to have a global view of the different offers on the market in order to find the one that will be the most advantageous for you. Note that the personal loan proposals that can be found online often have better rates than those you could get by going directly to a bank or an establishment specializing in consumer credit. In addition, using an online comparator is a considerable time saver as you can access a range of credit offers corresponding to your needs in a matter of minutes.

You just have to fulfill some necessary criteria so that the comparator can put forward the personal loan proposals corresponding to your expectations so that you can compare them and find the one that will have the most interesting rate. Remember to perform several simulations by varying the duration and the monthly payments of your credit because this will affect the APR (annual percentage rate) of the credit. The longer the duration of your personal loan contract, the higher the rate will be, thus increasing the cost of credit. However, the monthly payments will be reduced. On the other hand, if you opt for a shorter duration, you will be able to obtain a more interesting rate but you will then have to pay higher monthly payments. Thus, performing several simulations can be very useful to adapt your personal loan to your situation but also to find the best rate for your personal loan.