Online bank credit – Where to find the cheapest rates?
Online bank credit – Where to find the cheapest rates?

online bank loan

Obtaining an online bank loan is now possible. Indeed, traditional banks are far from having a credit monopoly, and online banks are taking turns. Mortgage and consumer credit are now offered to those who are already customers, but also to others.

Credit: access the comparison

Take out an online bank loan

In recent years, online banks have been attracting an increasingly large and varied clientele because of their very advantageous rates. Gradually, they offered all the banking services of a traditional bank: current account, savings… and credit.

Not all online banks offer mortgage or consumer credit yet, but more and more of them do. Very recently (March 2017), Fortuneo also launched into this niche. But a online bank can it really compete with credit agencies like Sofinco or Cetelem ? And when it comes to mortgages, can they beat an incumbent bank?

Concretely, what is the advantage of an online bank loan?

  • Rates often more advantageous than in a traditional bank
  • Lower fees : no application fees…

However, it is impossible to take out credit in an agency, everything must be done online, by email, telephone or even possibly by videoconference. You must therefore be ready to do without a physical interlocutor.

However, this does not mean that the customer has no one to talk to: online banks provide dedicated trained telephone advisers.

Online banking mortgage loan

The real estate online banking loan is available in four establishments: Hello bank!, ING Direct, Boursorama Banque and Fortuneo.

As we will see, the good point is that the direct debit of salary in an online bank when taking out a home loan is not mandatory, which is usually the case in a conventional bank. In other words, if the customer wishes to keep his current bank, he has the right to do so.

Hello bank!

Online banking credit from Hello bank! is not the most advantageous in terms of Review report Hello Bank

concerns the APR, but it is the most accessible. Indeed it can be subscribed between 2 and 30 years, without ceiling of amount.
  • APR (overall effective rate): fixed rate of 1.88% over 15 years
  • Duration : between 2 and 30 years
  • Rising : from €3,000, no ceiling
  • Application fees : 250€, identical fixed price for everyone

>> Discover Hello bank!

ING Direct

  • APR (overall effective rate): fixed rate of 1.69% over 10 years
  • Duration : between 8 and 25 years old
  • Rising : between 80,000 and 1,500,000€
  • Application fees : 750€, identical fixed price for everyone

The personal contribution must necessarily cover agency and notary fees at a minimum. These generally represent between 4 and 8% of the sale price for agency fees, and 6 to 8% for notary fees.

Offer special : If the client decides to opt for direct debit, ING Direct offers a reduction of 0.10% on the credit rate.

Contact ING Direct: advisers dedicated to online banking credit are available at 01 57 22 54 12 Monday to Friday from 9 a.m. to 7 p.m. and Saturday from 9 a.m. to 4 p.m., except public holidays (non-surcharged call, cost according to operator).

>> Discover ING Direct

Boursorama Bank

  • APR (overall effective rate): fixed rate of 1.69% over 15 years
  • Duration : between 7 and 25 years old
  • Rising : from €80,000
  • Application fees : free for any financing request made directly with Boursorama Banque

Once again, the direct debit of income is not compulsory to obtain an online bank loan, which leaves the customer some freedom.

Boursorama Banque does not require no minimum personal contribution (excluding notary fees and Crédit Logement guarantee).

>> Discover Boursorama Bank

Fortuneo

With an opening of its offer to all in February 2017, Fortuneo is the last to have made its bank credit available online. It therefore offers the most attractive current rate.

  • APR (overall effective rate): fixed rate of 1.55% over 15 years for a loan of €200,000
  • Duration : between 7 and 25 years old
  • Rising : between 100,000 and 1,000,000€
  • Application fees: no application fees or prepayment allowances for this online bank loan

Contact Fortuneo: advisers dedicated to real estate credit can be reached at 02 98 00 29 22 Monday to Friday from 9 a.m. to 8 p.m. and Saturday from 9 a.m. to 6 p.m.

Personal contribution : 10% of the total amount of the minimum project (excluding costs), and which must cover at least the costs (notary, agency, etc.). No contribution necessary for a repurchase of credit.

>> Discover Fortuneo

To note : All of these rates are indicative and depend on the profile of the borrower (age, remuneration, etc.) as well as the amount and duration of the loan. In order to obtain more precise prices for online banking credit, it is necessary to contact the organization directly or to carry out a simulation online credit.

Consumer credit in an online bank

HSBC review

Organizations offering online real estate banking credit do not necessarily have consumer credit, and vice versa. This is particularly the case of Fortuneo and ING Direct, which are not found in this category. However, we see BforBank appear.

Organizations offer three types of Consumer credit in their online bank:

  • Personal loan
  • Car loan
  • Work credit

The easiest way is still to go through our credit comparator.

Hello bank!

It is possible to borrow up to €75,000 on between 12 and 60 months at Hello bank!. Online bank credit application fees are offered. Currently and until March 31, 2017, Hello bank! offers a fixed APR of 1.75%.

>> Discover Hello bank!

BforBank

Depending on the type of online banking credit, BforBank offers consumer loans between €1,000 and €100,000, over a period of 12 to 120 months. The APR can vary between 2.90% and 6.90%. There too, there are no application fees to be expected.

>> Discover BforBank

Boursorama Bank

In its example, Boursorama Banque highlights an online bank loan of €10,000 over 48 months in Fixed APR of 1.15% (annual fixed borrowing rate of 1.144%), repayable in 48 monthly installments (excluding optional insurance).

>> Discover Boursorama Bank

Written by Claire Krust
On 05/16/2017
Modified on 07/13/2020


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