Where to get a personal loan: better online or in a branch?

Where to get a personal loan: better online or in a branch?

Do you need a personal loan and you hesitate between requesting this loan from an online bank or a traditional bank? With the arrival of neobanks, banking services and banks are now in competition. So before taking out a loan, it is better to study the offers that are offered to you. In the case of a loan, there are now many offers. But it also depends on the loan you need. We will see together what are the best loan offers depending on the amount you want.

What does the personal loan concern?

This type of loan gives you the option of borrowing money for an immediate need. It allows you to finance an asset such as a car, household appliances or even a computer. You can also use it to solve temporary financial problems. This loan is granted without proof of use. So you can use it as you see fit. This is not the case with a home loan for example. Personal loan can also be called consumer credit.

Get a personal loan online

Many online banks offer personal loans. At Boursorama, for example, you can benefit from a personal loan if you meet certain conditions such as: having an account for more than three months with the bank, not being registered with the Bank of France, being of legal age, etc. Usually, banks, whether online or not, require the borrower to have an account with the bank. With online banks, Boursorama, N26, Hello Bank, Fortuneo or even Monabanq, bank accounts are often free or with little account management fees. So you can take out a personal loan without having to pay too much for the bank account. Online banks also offer microcredit, which is often free or at little cost. The best is to use a comparator of loan agreed via Matchbanker. For example, you can subscribe to a micro-credit of € 300 with Boursorama and pay only € 5 in management fees.

Obtain a personal loan from a physical bank

Societe Generale, ING, La Banque Postale, etc. All of these physical banks offer personal loans or consumer credit. If you want to make a personal loan from your bank, you will have a fixed APR that will have to be repaid in addition to your loan. For example, you borrow € 5000 from Société Générale, your APR is 5,78% and you will repay € 5. As you can see, you are going to pay your loan € 295. The personal loan in branch is therefore more expensive than the online loan, because beyond a certain sum, loan insurance becomes compulsory.

What are the deadlines for a personal loan?

The personal loan or consumer credit is a loan that can be quickly allocated. By going through an online bank, you can benefit from this loan in 24 hours depending on the desired amount. Regarding physical banks, it often takes a few days for the acceptance of your borrower file.

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