Do you know the Lombard credit? This is the nickname given to a loan granted in return for the pledge of your savings. It is therefore a question of having substantial investments in a bank to obtain an advantageous loan. Boursorama has just launched an online Crédit Lombard offer.
With mylombard, Boursorama is enriching its offer for its wealthy customers, explains Benoit Grisoni, CEO of Boursorama, in a press release. A simple, transparent and 100% mobile offer, allowing here to finance its projects up to 2,000,000 euros at a rate currently below 1%. The online bank indeed announces a credit at the annual percentage rate of charge (APR) of 0.95%.
This online Lombard loan is indeed a very specific arrangement: it is a loan in fine, that is to say that for 5 years you only repay the interest, the capital being repaid to him in one installment at the end of loan This late repayment is possible because the bank ensures that the customer has the necessary funds: he must have substantial savings, greater than the amount borrowed, to be entitled to the Lombard loan. This savings is then subject to a pledge, which makes it possible to avoid bank guarantee costs.
A mylombard loan of up to 50% of accumulated savings
Here, borrowing is possible up to 50% of the value of the eligible securities on the various portfolios such as the securities account, the PEA or life insurance held at Boursorama Banque. In other words, you need 4 million euros in life insurance and stock market assets to be able to borrow the maximum of 2 million euros promised by Boursorama.
Boursorama already offered an advance on securities on the same principle. The mylombard offer makes it possible to raise the possible loan to 2 million euros for high net worth customers, and to extend the term of the loan from 3 to 5 years. With this online solution, Boursorama promises an agreement in principle in real time from the end of the process, availability of funds within 7 or 14 days depending on the client’s request, funds that can be used without supporting documents, without administration fees or collateral, without prepayment fees, and the possibility of finalizing the transaction with an electronic signature.
Real estate loan Boursorama Bank