There are many who find themselves in situations where debt is the only answer. When this is the case, it’s important that the product is able to satisfy the need. If not, customers will find themselves in a continuous cycle of payments. When the loan is matched to the need, however, the payments are more manageable and the situation is not in a loop. This provides customers with the peace of mind that their needs are met without putting their household under tremendous pressure. Credit Agricole Consumer Loans promise customers a solution for their cash flow needs. This review investigates the finer details of the loans to see how they rate among their peers. One of these peers happens to be Bank of Ireland, who has some interesting loan offers.
4 Tips to Manage Loans More Effectively
Those who are new to loans may find themselves at a loss when those bills start piling up and there doesn’t seem to be and end to the credit cycle. In order to be in a position where customers meet their obligations without feeling the strain in their household, there are a few basic principles to practice to achieve it. Here are four of those principles.
Match the Loan to the Need
This is the number one reason why customers are unable to manage their debt. It all starts with that very first loan, and whether it was used for the intended purpose. Also, the word “need” should provide customers with another guideline to manage this well. For instance, customers who are in need of a vehicle, shouldn’t apply for a credit card. If they do, they are at risk of paying back a far higher amount than intended. Also, a credit card allows customers to reuse the funds, like a revolving facility. This means that they risk being in a credit loop.
Pay the Minimum Instalment On Time, Every Time
Customers who default on their payments soon find themselves in a situation where their credit rating is low. This could affect future applications and may also result in legal action. In order to benefit from a good credit score, customers are encouraged to pay the minimum amount every month and ensure that their payments reflect on time.
Don’t Apply for the Maximum if the Minimum Will Do
Those who manage their credit payments well, often find themselves receiving offers for loan amounts they didn’t know they needed. When they need finance, many customers apply for a little extra, just in case they may need it for another product. The danger in this is that the loan gets used for everyday purchases or luxuries. When the loan money runs out, customers still need to buy their everyday items and may find themselves getting into more debt. The easier it is to get into debt, the harder it is to get out.
Readvance With Care
Many financial institutions offer customers the option to apply for a readvance on their product when they near the end of their term. Instead of taking up an additional amount for non-essential items, close off the loan and use those funds towards a savings or endowment.
Credit Agricole Consumer Loans Product Offerings
Ready to Consume
Customers who require a tailored finance solution will find this one ideal. Furthermore, customers are encouraged to check their repayment capacity before they commit.
- This loan type is designed to match the needs of the customer. From a trip around the world to the decor in a home, this loan covers it all.
- Furthermore, the finance is suitable for those who wish to fund their projects in whole or in part.
- Also, customers are able to shift the settlement from the first due date of their loan by 2 months maximum.
- The loan also allows customers to take a break and post a monthly payment at the end of the loan. This can take place once a year and carries no additional costs.
- Customers can increase or decrease their payments to afford them the opportunity to repay at the speed they choose to.
- Finally, customers can repay the loan in full or a part of the outstanding capital on request of the bank, within the regulations and ambit of the agreement.
Rental with Purchase Option Unimer Loa
This finance type is suitable for those who wish to purchase a boat. Furthermore, the loan type allows customers complete freedom with a controlled budget.
- Customers who wish to rent a boat with the intention of buying it will find this product ideal.
- It allows customers to harness the full tax advantages of the product.
- Also, Unimer finances sailing sets and navigation equipment such as radar, compass, VHF, etc. This is up to a limit of 20% of the total funding of the boat.
- Finally, customers pay their regular installments and after the last installment, have the opportunity to pay a pre-determined fee to take ownership of the boat.
Energy Saving Loan
This is the ideal loan type for customers who wish to reduce their energy bill. Also, the reduction on the energy bill will also create the opportunity for customers to do their part for the environment.
- Customers can apply for this loan to improve a number of things that qualify for this type of finance.
- Furthermore, items that qualify also provide customers with a tax benefit.
- The loan is available to tenants, landlords, and owners of primary or secondary properties.
One Euro Per Day Loan
This is an interest-free loan that provides customers with the finance to enroll in driver’s license training. Furthermore, it also provides funds in the form of supplementary loan in the event of a practical examination failure.
- Customers between the ages of 15 and 25 can apply for this loan.
- There is no interest rate on the loan, and the loan is provided by the State.
- Furthermore, the amount of the loan cannot exceed the estimated costing of the driving school.
- Finally, customers only pay what they borrowed.
Mozaic Loan Students
This loan allows students to pursue further education with confidence.
- Customers enjoy preferential rates with this loan type.
- Furthermore, the loan is designed to help students meet their tuition costs and also their everyday expenses.
- The loan is suitable for students and/or apprentices aged 16 to 30.
- Finally, the loan is suitable for short or long courses, in France or abroad.
Good Loc Locator Loan
This is the ideal loan type for tenants who are looking for the ideal home. Also, this helps with the cost of moving into a new place without distorting the budget.
- Customers benefit from assistance to search for the ideal home.
- The loan covers items such as security deposit, removal expenses, equipment, and more.
- Finally, this service also extends to the landlord, which allow tenants and landlords to find the perfect fit.
We also did a review on the transaction accounts on books with Credit Agricole, and the rating was quite surprising.
What We Like About Credit Agricole Consumer Loans
There are a number of things that may require finance throughout a life journey, and a one-fits-all approach is not always ideal. The range offered by Credit Agricole will allow customers to fill the gap where they require funding with the right product. This bank offers a very comprehensive selection of loans to match a number of needs. Also, customers can rest assured that these loans are tailored to their specific needs.
Furthermore, the flexibility in terms of repayments will assist customers who may experience difficulty with this in times of needs. For instance when emergencies happen or funds are low. The option to reduce or increase installments on some of the products will encourage customers to rather do that, as opposed to taking out more finance.
Finally, the products are neatly packaged to provide customers with streamlined loans. Because the loans are so carefully matched to specific needs, the possibility of unnecessary spend is reduced.
What We Don’t Like About Credit Agricole Consumer Loans
When a product range offers customers simplified products that match specific needs, it’s hard to fault it. In this case, the only thing we would do differently just makes the pricing a little easier to access.
Customers who prefer something a little more substantial, such as property finance, should take a look at Credit Agricole's mortgage offers.
Critical Reviews Rating Credit Agricole Consumer Loans – 10 of 10
There is no funny business with these loans and no reason to find fault. From customers who are just starting out in life and hope to make their journey, to those who are already established and require a few changes. There are the loans that will help customers achieve their personal goals such as travel or decorate their homes. For others, making changes that will positively impact the environment are more important.
Furthermore, the loan types are flexible and customers who experience some financial difficulty will find the flexibility to be a great boost. Also, the loans are well priced and the interest rates compare well to their peers.
Finally, although the range is wide and there are a number of products to look forward to, there is the matter of pricing. Will customers have easy access to the additional costs levied to their loan accounts? This is the only negative aspect of these loans and not nearly enough reason to penalize the bank. Therefore, a perfect score suffices.
Another bank that offers an interesting range of personal loans, is National Bank of Abu Dhabi.