9. Bank Loans in France

1. 9.1. Rules of Eligibility
2. 9.2. Rates and Charges
3. 9.3. Types of Credit
4. 9.4. Annual Percentage Rate
5. 9.5. Finding a Lender
6. 9.6. Financial Difficulties

9.1. Rules of Eligibility

Banks and finance houses in France operate in a very similar manner to those elsewhere, although with probably a greater degree of caution!

So, if you are looking to take out an unsecured loan in France, as a general rule you will need to be resident and, ideally, with a stable and regular income.

You will be required to provide comprehensive documentary proof of your income and circumstances.

A system of credit scoring takes place in the same manner as in most other countries. You will also need to have a clean credit record.

If your earnings are variable, then the lender will want to see your income tax returns over several years and it is likely the rate offered will reflect the greater risk being taken by the lender.

It is possible for a non-resident to obtain an unsecured bank loan in France, but you may have to jump through hoops to get it.

The attitude of the bank will be strongly influenced by how long they have known you and the confidence they have in you.

You are likely to have to deposit with them about 25% of the value of the loan until it has been repaid.

But, if you can get one, it may be worth having, for the rates of interest in France are generally lower than in the UK and many other countries.