Personal Loans Essentials
There are different types of personal loans. Your France advisor will offer you a credit adapted to your needs and your projects.
Personal credit is not allocated to a specific project: you can use it as you wish. This credit is repayable over a maximum period of 15 years.
Its amount varies between 1000 and 75 000 euros. You benefit from flexible terms, that is to say that you can vary your monthly payments upwards and downwards (2) to adapt your repayments to changes in your budget.
You have a large expense to make, such as a car or household equipment, personal credit allows financing that can go up to 100%.
Note: this loan is not linked to a specific purchase, if your property proves defective or if it is not delivered, you will have to continue to refund your credit.
The student credit is intended for young people aged between 18 and 28 years. It allows to pay school fees, ancillary expenses (purchase of computer, scooter, furnishings) or the current expenses (rent, food).
Loaned funds may be made available on one or more occasions. It is best to use your funds as you need to because it reduces the cost of interest.
Its amount corresponds to your needs. When calculating the amount that your refunds will start when you enter the labor force, that is, a period when your financing needs to equip you may be greater than today.
In terms of collateral, banks usually ask for surety from a parent or relative.
Student loan repayment is highly flexible. During your studies, you have the choice between:
– a total deductible, that is to say you pay only the insurance premiums
– a partial deductible, you pay interest and insurance premiums. The latter solution prevents your debt from rising each year.
After your studies, as soon as you are in the working life, you repay the rest of your credit. It is possible to repay your loan in advance.
The maximum duration of a student loan is 9 years.
Example on April 1, 2014
For a personal loan of € 7,000, for a period of 24 months. At the Fixed Annual Fixed Annual Rate of 3.97% (fixed interest rate of 3.90%), you repay 24 maturities of € 303.66, ie a total amount due of € 7,287.84 (of which € 287.84, interest, excluding optional insurance, administration fees). The cost of Optional Borrower insurance, calculated on the basis of the death benefit, Total and irreversible loss of autonomy for a single borrower under 30 years of age on the date of the offer
is € 1.05 per month and is added to the repayment term of the credit (if you have subscribed) (**).
A credit commits you and must be repaid. Check your repayment capacity before you commit.
HSBC provides you with all its know-how to help you realize projects that are important to you. Do not hesitate to contact your agency advisor.