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Duration: Request — 1 day; decision — from a few hours to days
Cost: The TAEG includes fees for files, insurance; difference between organizations
Possible online
Who this guide is for
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- You if you want to subscribe a credit conso and compare
- You if the TAEG and the conditions concern you
- You if you want to understand your rights and the withdrawal period
To be prepared in advance
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- Tax Notices, Payrolls, BIRs
- The amount desired and the object (for the choice of type)
- Comparison of offers (TAEG)
Step-by-step procedure
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- 1Determine the type: personal loan (free use, fixed rate), assigned loan (for a purchase, generally lower rate), revolving credit (shop card — often more expensive, flexible).
- 2Compare the GAT (total effective annual rate with all costs) — the main indicator. Not just the nominal rate.
- 3Rate the ability to repay: monthly ≤ ~33% of income. Use simulators.
- 4Apply: Online or bank/agency. Receive the prior offer (formal contract with TAEG, duration, monthly payments, total cost).
- 5Cancellation period: 14 days after signing the offer — you can cancel without cause. Particularly important for the assigned credit (related to a purchase).
- 6Renewable credit: distrust! High AEG, flexible minimum payment that extends the debt. For episodic purchases — better avoid.
- 7Borrowing insurance: not compulsory in credit conso, but can be offered. The Lemoine law makes it possible to change it.
- 8Early repayment: possible, with possible compensation (- 1% of capital).
- 9Over-indebtedness: in case of incapacity to pay — see the over-indebtedness guide (Bank of France).
Common mistakes
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- Watch only the rate, not the TAEG — hidden fees.
- Taking a revolving credit without understanding — debt goes up.
- Do not use the withdrawal period for an impulsive purchase.
- Take a monthly payment close to the ceiling — risk in case of unforeseen.
- Do not compare multiple offers.
Official sources
Section actions
Show sources in this section
Important remark
TAEG and conditions vary by organization. This information is indicative — for your file, consult the bank.
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