Gasoline, food products, household appliances, school supplies: keeping your budget is becoming more and more complex as inflation reached 5.8% at an annual rate in August, according to the National Institute of Statistics and Economic Studies . “Almost one in two French people is uncovered at least once a year. An increase can be expected this year due to rising prices”analyzes Basile Duval, spokesperson for the Panorabanques bank rate comparator.
However, an account in the red leads to a litany of fees. In the event of an authorized overdraft, premiums of around 15% must be taken into account. But, beyond the authorized amount, or in the absence of authorization, the customer pays intervention commissions (8 euros, capped at 80 euros per month), not to mention higher agios (up to 21, 11%) and ancillary costs (information letter for debit account of 10 euros on average, etc.). “Recourse to consumer credit is sometimes used as an alternative to overdraft, because it costs less, but it is not an act to be taken lightly”warns Mr. Duval.
The production of personal loans is thus up by 19.3% over one year over the first five months of the year, according to the French Association of Financial Companies, while revolving loans (a reserve of money in which customer can draw) increase by 20.5%.
But beware, consumer credit is not intended to fill your supermarket trolley. It is made to finance a specific project (car, work, vacation, etc.) the amount of which exceeds its budget. Specialized credit institutions (Cetelem, Cofidis, Sofinco, Oney, Younited, etc.) and banks can lend up to the regulatory ceiling of 75,000 euros without asking the customer for an invoice: the customer can therefore use the money as they wish. borrowed. This is not the case for credits allocated, directly linked to the purchase of an asset, such as a vehicle, and subscribed at the point of sale.
Ask your bank
Institutions modify their offers very regularly, sometimes several times a month, depending on financial market rates, competition and promotions (back to school, holidays, etc.). “Rates have been rising since the beginning of the year. We have to bring competition into play, because the offers vary by a factor of two, or even more, from one establishment to another”adds Mr. Duval.
It is possible to carry out simulations on the sites of specialized establishments, but it is also wise to ask your bank. She knows her client well, which often allows her to offer attractive rates. Be careful, however, not to be seduced by certain promotional offers at broken rates, sometimes less than 1%, the conditions of which only apply to very high amounts reimbursed over very short periods (twelve months), which which results in an excessive monthly payment. At the rate of 0.48%, for example, you have to pay 548 euros per month to repay 7,000 euros over twelve months.
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