Consumers loans are often tricky to wade through, especially when taking into consideration the number of options out there. These loans aim to provide customers with the means to meet their financial needs without putting themselves at risk. This is because they don’t have to dig into their emergency savings to meet the newly arisen needs. Consumers loans are also a little less strenuous on the pocket, as they offer consumers the opportunity to pay the loans over a period of time. Societe Generale Consumer Loans offer some great options to clients and this review compares the range to some of the best around the world.
Find out how this range compares to that of National Bank of Abu Dhabi.
About Societe Generale
Since the eighteenth century, this bank has proven to be an integral part of the financial landscape in France. It has weathered many storms, including both World Wars. Peace loans and other products came to the fore to help the economy get back on its feet. The economic downturn of 2008 was also not a great period for the bank, however, it managed to make it through despite setbacks. Now, the bank is rated one of the top banks in France and has a substantial global footprint. It offers consumers both modern and traditional banking.
Fuss-Free Consumer Loans
There comes a time in life where the savings are running low and expenses are mounting up. This could be for a number of reasons, such as medical bills, unexpected events, and more. When this happens, it’s important that all the bases are covered and sometimes this requires a loan.
Take Only What You Need
This is tough to do, especially when the financial institutions make the loans so easily available. This will prevent the consumer from spending unnecessarily and it will also keep the installments as low as possible. Furthermore, it will also help consumers stick to their needs and not fund their wants with debt.
Go With Reputable Institutions
It’s easy to get sucked into flyers and posters of institutions that offer great loans in no time at all, but are these institutions regulated? Consumers need to ensure that their contracts are above board and that the terms and conditions are standard. They will also need to have a look at the fees and interest rates to ensure the company is competitive and fair. A loan from their bank might end up being a little more cost-effective, due to the relationship.
Choose An Option That Suits the Pocket
Cash flow management in a household is a critical part of ensuring that things run smoothly, which is why the installment size matters. Try to go for the shortest period possible in order to get the loan paid off faster, but not at the sacrifice of the budget. It may also be a good idea to look at refinancing certain loans or even consolidate if the cash flow becomes a little tight.
Determine Whether the Need is Long Term or Short Term
Sometimes consumers find themselves in a financial bind purely because they were uncertain of the type of loan they needed to get through their financial crisis. There are various loan options available, and consumers are recommended to do some research to know the difference. A typical example would be the correct use of a credit card. For instance, if it’s used to finance the everyday costs of a household, the household will soon run out of funds to support themselves in the following months.
Societe Generale also offers a mortgage range and we recently did a full review.
Societe Generale Consumer Loans Product Offerings
This is the ideal solution for those who may need their credit line on a revolving basis. Furthermore, the funds are available at any time.
- Customers can make transfers from their revolving credit line at any time to their bank accounts.
- The credit is also accessible with remote banking. Also, the transfers from the revolving credit line are free.
- This is the ideal solution for those who have their credit needs spread over a period of time, not necessarily all in one month.
- Furthermore, customers know what their monthly repayments are ahead of time.
- Finally, customers can determine their monthly repayments with the amount they use from their credit line.
Rent With Purchase Option
This option is suitable for those who want a car, but still require their options to be affordable. Furthermore, customers still get to choose the make and model of their vehicle.
- Customers can be the owner of their vehicles from the first anniversary of their contract. This is if all the terms and conditions are met.
- The Lease With Purchase Option allows customers to change their cars regularly while still in control of their budget.
- Furthermore, customers will know their monthly budget in advance.
- Finally, customers will also know what the budget is in terms of the expenses related to the use of the vehicle.
Customers who wish to rid themselves of tiny little payments and rather focus on a singular one will find this one suitable. It consolidates smaller loans into one to free up cash flow.
- The loan allows customers to have a single payment every month.
- It may even offer a lower rate.
- Finally, customers have a new deadline which could free up some spare cash to better serve the household.
Alterna Direct Loan
This loan type is specifically designed to assist with a particular project, such as unexpected medical bills, holiday, and more. Furthermore, it’s a fixed rate and fixed term contract.
- Customers can better plan their budgets thanks to the fixed rate and payments.
- The repayment term is anywhere between 12 and 36 months.
- Furthermore, customers are not required to provide proof of expense.
- Finally, young workers may even qualify for a preferential fixed interest rate.
The Societe Generale Insurance review is available here.
Student Loan Evolutionary
Student life can be expensive and sometimes there aren’t enough savings to cover all the needs. This loan covers a multitude of expenses students may face.
- The finance can be used for the tuition fees, equipment or furniture required, or even a car or two-wheeler.
- Students are not required to provide proof of their expenses.
- The loan amounts start at around EUR 1,000.
- Furthermore, there is the option to do a readvance if the initial loan amount is not sufficient.
- Also, after the first year, students can change the duration of their loan to adapt to their needs.
- There is optional insurance consumers can purchase to protect the loan.
- Finally, the loan can be repaid over 9 years, with the option of a further extension.
Depreciable Credit Expresso
Customers who require a personal loan to finance personal events or items will find this loan fast and efficient. Furthermore, the loan amounts start at around EUR 1,000.
- The loan does not require a deposit from the customers.
- Customers are also not required to provide proof of purchase.
- The repayment period is between 12 to 84 months.
- Furthermore, customers can make their monthly repayments go up or down.
- Finally, this loan has a fast turnaround time and customers have their response within a short period of time.
Depreciable Credit Expresso Vehicle
This is the ideal loan type for those who wish to finance a vehicle or two-wheeler. Furthermore, the loan type is also suitable for those who wish to carry out repairs on their vehicle.
- The loan amounts for this loan type start from around EUR 1,000.
- Customers can choose a repayment period of between 12 to 84 months.
- There is also the freedom to choose whether the payments go up or down.
- Furthermore, customers are not required to put down a deposit.
- No proof of purchase is required.
- Finally, customers receive an answer within a short period of time.
Expresso Credit Sustainable Development
Customers who are concerned about the environment and renewable energy will find this loan ideal. It provides them with the option to make certain alterations to their properties that improve sustainable development.
- The loan is ideal for alterations such as solar panels, low-temperature boilers, thermal insulation work, and more.
- The loan amounts are up to EUR 75,000.
- Finally, customers benefit from a tax credit on various items and materials used in these alterations.
Critical Reviews Rating Societe Generale Consumer Loans 10 of 10
Consumers who find themselves cash-strapped in specific situations, or have a large financial commitment coming up, may have to consider a consumer loan to assist with the financial burden. Consumer loans provide that bit of a buffer, while still allowing customers to determine certain conditions of the loan that will suit their pockets. The Societe Generale Consumer Loans range doesn’t disappoint in this regard as it allows consumers to make the choices within the scope of their needs.
There are a number of different options available to clients which help them with their long-term and short-term financial needs. There is really nothing to fault with this product range, which deserves a perfect score.
Wells Fargo also has a range of personal loans and we recently did a review.