Opting for an online loan has only advantages: it is faster and easier to obtain credit. And above all, it guarantees the best chances of finding the cheapest loan rate. Our online loan comparator refers to the largest organizations such as Cofidis or Cetelem, as well as online credit banks.
► Access the loan comparator
See also : How to repay a mortgage?
With the rise of the Internet, it has become easier to obtain a loan online. While consumer credit agencies all offer this solution, it is far from always the case in banks. Our comparator allows you to directly compare online consumer loan rates and simulate the best mortgage rate that anyone can obtain.
Getting an online loan is very simple: you just need to fill out the application and get a response in principle.
Further reading : How to Relax with a Relaxing E-Liquid?
How to obtain credit online
Compare consumer credit offers
Cetelem, Sofinco, Franfinance… more and more credit agencies offer online loans. There are two choices for the consumer: apply for a loan online directly on the organization’s website or go through a loan comparator.
Of course, banks also offer consumer loans. Unfortunately, almost none have online credit offers. But that is not the only problem with banks. They only lend money if you are already a customer. And it’s better to be a “good” customer of the bank. On the other hand, many banks are regional like Crédit Agricole or Crédit Mutuel. Consumer loan rates are not the same everywhere in France. Online banking credit is only integrated into our comparisons when the offers are interesting.
► Access our loan comparator
Tip: for those who think they can obtain a good consumer loan rate from their bank, we advise them to ensure the following: technique:
- Compare the best online loan rates
- Request an online loan to be sure of the rate you can actually obtain (without commitment)
- Receive the loan offer obtained (sometimes it is possible to print it)
- Make an appointment with your bank to see if they can do better
Complete your online loan application
To complete your online loan, follow the steps below:
1- Fill out the online loan form
By accessing the loan comparator form, the customer is invited to fill in several pieces of information: the conditions of the online loan they wish to obtain (consumer credit or revolving credit, duration, amount), their personal information (salary, postal address…).
It is based on this information that the comparator will be able to study the loan application and propose a ranking.
2- Get an immediate response based on principles.
Once the form is filled out, the consumer receives a ranking of the best offers at the moment, but also a response immediately in principle. If the organization offering the best rate rejects the client’s file, the client can turn to the second or third organization.
Note: not all credit institutions have the same acceptance criteria. In other words, just because one of them refuses to grant a loan does not mean that the others will as well. Applying for an online loan is easy. You can apply to multiple organizations and thus maximize your chances of obtaining credit.
3- Signing the contract and sending supporting documents
The response of the policy is based on the information provided in the form. Of course, the lending organization must verify this information: the consumer must send the requested supporting documents to the institution:
- A proof of identity
- A proof of residence
- The last salary slips
The required supporting documents may vary from one organization to another.
Sending is generally done by postal mail.
On the other hand, a number of organizations such as Franfinance and Sofinco have implemented electronic contract signing, which helps speed up the process.
4- Payment of the requested funds
Final step: the payment of the requested funds. However, this does not happen immediately after signing the online loan, due to the withdrawal period.
The withdrawal period is 14 days, or a minimum of 7 days if the client decides to shorten it (just check a box in the contract). During this time, the consumer can decide at any time to reconsider their decision and not take out the online loan.
Once the 7 days have passed, it is also necessary to account for bank transfer times, which vary depending on the client’s bank.
Advantages of online credit
Time-saving
The first advantage of taking out an online loan is that it is quick. Moreover, using a comparison is also a time saver.
Searching for a loan can take time. However, if you are in a hurry and the client needs money as quickly as possible, asking for credit from your banker is far from the best solution. Between making an appointment and obtaining the actual funds, a significant amount of time can pass.
Choosing an online loan allows you to eliminate waiting times for appointments and sometimes even postal delays (electronic signature). Furthermore, the consumer does not need to question all the credit agencies themselves; the comparator takes care of that for them.
Obtaining a better rate
Let’s be honest, while banks can sometimes offer attractive rates, it is far from always the case. Customer loyalty is not necessarily rewarded. Even with a good profile and a good file, it is not guaranteed that the client will be offered the cheapest credit.
Using an online loan and, by the way, through a comparator, allows us to find the best possible rates for your travel loan or your leisure credit.
Easy online credit
It is easy to apply for an online loan. Follow the instructions. When printing the contract, it is usually already pre-filled. The client just needs to sign it and send it by mail when the organization does not offer electronic signing. In this case, the consumer usually receives an SMS code that they must then fill in the form.
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Get more choices
Contacting banks and agencies one by one takes a lot of time. Often, consumers do not apply to all existing credit institutions. Although online loan comparators are not exhaustive either, they still allow many organizations to be interviewed in a short period of time. The client thus has more choices than if they had taken the time to talk to their banker.
Example of comparison
Depending on the organization, the online loan rate can vary from simple to double, which is why it is important to compare offers.
Here, to prove it, an example for a personal loan of 8,000 euros repaid over 36 months (3 years).
| Organizations | Rate | Monthly payments | Final cost of credit |
|---|---|---|---|
 |
3.60% | 234.57 | €444.52 |
| 5.77% | 241.01 | €712.36 | |
 |
5.87% | 242.35 | €724.60 |
As can be seen, currently, Cetelem offers the best online credit with a rate of 3.60%. On the other hand, the rate from Cofidis is 5.87%, which is about 2% more.
Each month, the difference remains relatively small, but we can see, based on the final cost of credit, that the financial impact of the rate is very significant. Indeed, a loan from Cofidis costs €280 more here!
Online mortgage
Compared to consumer credit, mortgages have not seen as much technological development. After all, traditional banks have not invested much to offer easy online loan solutions. But that should change quickly.
Indeed, mortgages are increasingly offered by online banks. ING, BForBank, Banque Boursorama… But they naturally offer online mortgages. There are also mortgage brokers who offer solutions.
How mortgage works
But why are online home loan solutions less developed than consumer credit? It is related to the decision-making process.
For consumer credit, the steps are as follows:
- Proposal of a rate linked to the project independent of the subscriber’s file
- Examination of customer files
- First policy decision following the review of the online loan application
- Verification of the customer’s identification information
- Final agreement and disbursement of funds
But for mortgages, it is not the same at all. The rate depends entirely on the registration of each client. Moreover, the commercial policy of each bank (and thus often in each region) can also influence the rate granted. If a bank is ahead of its targets, it will likely offer lower rates.
Compare actual online rates for inheritance loans
To provide the best possible information on the feasibility of its project and the rate we could obtain, we therefore had to juggle. We tried to set up a solution as close as possible to an online loan for mortgages. Our mortgage loan system integrates online bank loans, mortgage broker offers and the history of mortgage rates actually granted over the previous months.
Based on this data, our mortgage credit questionnaire allows you to obtain the best offers from online banks, a quote tailored to each individual’s file, and a personalized reminder if the project is feasible.
Debt consolidation
Probably the least known type of loan, online debt consolidation is nonetheless a must in the market. Indeed, this solution is dedicated to people struggling to repay their loans.
To simplify, when you can no longer face the repayment of your due date, debt consolidation is the solution. By extending the repayment period, it allows you to reduce monthly payments when possible.
Online debt consolidation simulation
In terms of debt consolidation, the amounts borrowed are significant. On average, €30,000 for consumer credit purchases and €90,000 for consumer credit and mortgages.
It is therefore essential to go through an online debt consolidation simulation to see the costs. But also to see if we can sufficiently reduce the monthly payment to be repaid. This is what our online debt consolidation simulation offers. It then allows you to obtain an immediate response in principle. This provides a first idea of the feasibility of your debt consolidation.