For example, if you need around € 20,000, you can go to your bank for a consumer credit. The interest rate is currently very attractive. At Bank, it varies between 2.65% (auto financing) and 10.5% (installment loan), depending on the amount and the repayment period that you choose.
There are adapted financing formulas for certain objectives: car financing (annual percentage rate or APR: 2.65%), energy loan (APR 3.49%), renovation loan (APR between 3.99 and 4.99%), etc.
If you borrow to renovate at home, a renovation loan is better suited. The law determines its maximum duration, which is proportional to the amount borrowed (see table). In general, a shorter percentage goes with a shorter duration. At the same interest rate, a loan in the shorter term costs you less money in total, since you then pay interest for less.
3,800 to 5,700 € 36 months3.99%
5,700 to 7,500 € 42 months3.99%
7,500 to 10,000 € 48 months 3.99%
10,000 to 15,000 € 60 months 3.99 to 4.99%, depending on the duration
15,000 to 70,000 € 84 months3.99 to 4.99%, depending on the duration
How much will your loan actually cost you? You will find the answer here.
Good to know: if you already repay one or more other consumer credits, it is sometimes a good idea to regroup them all into one credit. Bank offers several inexpensive regrouping formulas. Make a simulation yourself via this link.
You control your costs with your savings
If you withdraw money from your savings account instead of borrowing, you have no costs, but you lose the interest that your savings could yield. From a purely financial point of view, it is currently better to use your savings to finance a project, because the return on risk-free investments – such as a savings account – is so low today. But also take other criteria into account:
Or request your Renovation credit online
Example: installment loan of € 8,700 repayable in 28 monthly installments at an Annual Cost Rate of 3.99% (fixed actuarial lending rate: 3.99%). This means 28 monthly installments of € 325.64 , or a total repayable amount of € 9,117.92.
* Installment loan at an Annual Cost Percentage (APR) of 3.99% (fixed actuarial lending rate: 3.99%), subject to acceptance of your file and mutual agreement, reserved for private individuals. Amount borrowed from a minimum of 3,800 €. 70% of the borrowed sum must be justified through invoices or signed order forms. The legal maximum repayment period depends on the amount borrowed, but will never be more than 48 months to enjoy 3.99% APR. Interest rate valid on 01/07/2015, subject to changes.