Online personal loan: all about this consumer credit

Online personal loan is offered by all credit agencies, but also conventional or online banks. Without proof of use of money, the personal loan allows you to freely carry out small and large projects. We wondered where to find the best loan online, but most importantly how to make sure the application is accepted.

What is an online personal loan?

What is an online personal loan?

The online personal loan is a consumer credit without proof of use of money, which can be obtained 100% on the internet. Very developed, it allows you to finance a long trip as well as to buy gardening equipment. The major credit organizations have made every effort to obtain it by simplifying the procedures. Update on the main features of online personal loan:

  • Loan without proof of use of money
  • Fixed APR rate
  • Amount: between $ 200 and $ 75,000
  • Repayment period: generally 12 to 60 months (more or less in some cases)

Online personal loan rates

Online personal loan rates

Personal loans are a classic of consumer credit. The fact that it generally does not involve any proof of use makes it one of the preferred credits of the French. Online organizations are fighting a constant battle to offer the best personal loan online. Thus, it is possible to find a personal loan of $ 8,000 over 24 months at the best APR rate at Cofidis. But also to note that it is a competitor who is positioned at the top by selecting a different repayment period. Our example of an online personal loan for an 8,000 USD loan application over 48 months allows us to realize the significant differences in APR rates between several of the best personal loan offers online.


Personal loan simulation $ 8,000 over 48 months
Fixed APR rate
Monthly fees
Total cost of credit
Best Credit Organization
179.31 $
606.88 $
Second best offer
186,50 $
952,00 $
Third best offer
187.05 $
978.40 $


How to know if it will be accepted?

There is no point in getting the best rate if your personal credit application is denied. Our credit comparator has been designed to provide an immediate response in principle to each loan request. If the file is refused at the first organization, it is possible to query the following two best offers in one click. Or as many chances to get a first immediate favorable opinion.

Good to know: the conditions for accepting a loan differ from one organization to another. This is the reason why it is important to use a comparator connected to specialists when you are looking for a cheap personal loan.

The Benefits of Personal Loan Online

The Benefits of Personal Loan Online

The advantages of online personal loan are numerous:

  • Quick to get
    It is possible to get a quick personal loan notice. You just have to select “personal loan” on our form, implying the start of a form. Five minutes are enough to get a first response in principle from the organizations.
  • Simple
    The online personal loan is an easy credit. The fixed APR rate clearly indicates the total cost of the loan, as well as the monthly payments. The credit contract obtained after agreement in principle has no pitfalls. It is also easier to take time to read a credit agreement obtained online than when you are faced with an intermediary.
  • Accessible
    Our credit form can be completed at any time of the day. It is thus possible to simulate a personal loan online anytime, as long as an internet connection is available.
  • Free
    Applying for credit online is free, which is rarely the case over the phone, given the cost of customer service calls.

Alternatives to online lending

Several conventional methods also allow you to apply for a loan.

By telephone

Credit agencies have their own telephone line. It is possible to inquire about applying for credit by telephone, but most lines are chargeable. Our advisers are also available (03 20 88 52 11 – Monday to Friday from 9 a.m. to 8 p.m., 9 a.m. to 4 p.m. on Saturdays) to support each loan request.

Directly in branch

Some credit organizations have their own physical agencies. It is possible to obtain a Bankate personal loan directly from the group’s largest brands.

Personal loan online banking: a good formula?

Personal loan online banking: a good formula?

The vast majority of online banks offer credit solutions, but not always a personal loan without proof. In addition, it is most of the time necessary to be a customer of online banking to hope to obtain a credit. Almost all online banks offering a personal loan formula condition its obtaining by having a current or joint account. However, changing banks is far from the priority when you want to obtain credit.

Finally, the APR rates charged by online banks rarely compete with the best offers from specialist organizations. Despite everything, they are more interesting than those of traditional banks.

Classic banks lagging behind

The rate of personal loan conventional banks are generally unattractive, as shown in our study of the staff savings bank loan or the loan staff Banktire. Unfortunately, this is not the only negative point of credit in traditional agencies. Lagging behind on most of the criteria for a good personal loan, conventional banks also lag behind in the way they process files. The only advantage of the personal loan within a traditional bank is finally to have the possibility of exchanging in branch with an adviser, which is impossible in the case of a personal loan online.

How to get the best personal loan online?

How to get the best personal loan online?

With a few simple steps, you can identify the best personal loan online, but also make sure you receive a favorable opinion.

  1. Identify your need for money and the ideal repayment term by performing a personal loan simulation online. This first step makes it possible to sort out the best APR rates adapted to your situation.
  2. Organizations connected to our credit comparator are able to provide an immediate response in principle to each request. In the event of an unfavorable response at the best rate, it is possible to question the following two specialists with one click.
  3. Once the online personal loan contract has been obtained, all that remains is to check the conditions and supporting documents before signing. The most reputable credit organizations now offer the possibility of signing the contract electronically, in order to save time.
  4. Once the credit contract has been received and approved, the organization can pay the money from the 8th day, depending on the duration of legal receipt of consumer credit. The validation of the contract also leads to the start of the withdrawal period, fixed at 14 days by law ( see here ).

Good to know: you should not overestimate your monthly repayment capacity when applying for credit. It is better to opt for an easy-to-amortize online personal loan than to jump on a 12-month credit offer at a promotional rate.