Obtain a loan without contribution to finance a project

Do you have a personal project, but don't have a penny in your pocket to make it happen? The loan without deposit is specially designed for you. Find the necessary information here.

The personal contribution in a few words

A credit applicant is always someone who needs a financing solution to complete a project or to overcome a cash flow problem. Therefore, it seems illogical to commit funds for a loan application. However, you should know that for financial institutions, a personal contribution turns out to be a good indicator of the borrower's repayment capacity. It shows that the latter is able to save and control the budget on a daily basis. It is therefore an index of confidence between the lending institution and the borrower.

By owning this fund, it is even possible to renegotiate more easily the borrowing rate and amortizations. With an amount that amounts to at least 10% of the credit, the personal contribution always proves to be a blocking factor for a loan. Indeed, the majority of applicants do not have such a sum. On the other hand, banks grant a loan without contribution under certain strict conditions.

The criteria for obtaining a loan without contribution

Whether in consumer credit or mortgage, it is quite possible to benefit from a credit without personal contribution. For your information, this type of loan is often granted to young people, students or young workers who do not have enough savings for a personal contribution. Active people who have not been able to save enough due to a lack of income or those who wish to keep their savings are also eligible. For others, what to do?

To obtain this type of credit, it is mandatory to justify the absence of contribution. The organization wants to know the reason why the household cannot or does not wish to do it. The borrower will then have to be able to explain it. This can be a particular event, among others, divorce, the death of a loved one, an illness, or even an event organization.

Prove the stability of the financial situation

After having justified the absence of personal contribution, the borrower must prove that he has a stable financial situation so that the credit is granted. This is a token of confidence for the lender. In principle, it is essential that he has a regular income and has an employment contract. The latter will justify that the borrower receives a sufficient inflow of money to repay his monthly payments. It also allows you to precisely calculate your debt ratio.

Apart from that, even if the borrower earns a good salary, it is essential that it is not too regularly overdraft, especially when applying for a loan. If the case arises, the financial institution will question the consumer's money management capacities, and therefore reimbursement.

credit without contribution to finance a project

The different forms of non-deposit credit

To obtain financing, the borrower can opt for an online credit without contribution or a credit via a physical bank. He could, for example, make a personal loan. Note that this is the most generalized form of credit without contribution, whether revolving or amortizing credit. It can finance all types of projects without the need to provide proof of the use of the released funds.

In addition, it is also possible to obtain a car loan without contribution. This one is a good option. However, be aware that the interest rate can be quite high. A rental with option to purchase or LOA without contribution can also be complicated. In addition, it is conceivable to make a loan without contribution for the work. This just depends on the establishments that offer the credit. The borrower who wishes to carry out a real estate project can also subscribe to a loan without contribution. It can be quite difficult, but it is possible.

Other consumer credits to enjoy

Auto Credit

You plan to replace your car or buy a new one, take out a car loan. Whether new or used, a sum of money will be made available to you to finance part or all of the purchase. You will then have to repay each month with interest. The duration of your loan depends on your repayment capacity.

Works credit

As its name suggests, work credit is used to improve or fit out your home. This type of project requires a more or less substantial budget. This is why financial organizations and banks offer individuals a loan dedicated to work. The amount ranges from $ 5,000 to $ 75,000, for a repayment term of 12 to 120 months.

Personal loan

The personal loan is designed for the realization of your personal projects related to consumption. It allows you to have an amount ranging from $ 1,500 to $ 75,000, which will be defined according to your project. The rate varies in relation to the repayment term which can be done between 12 to 120 months. Online tools allow you to calculate the total cost of your loan.

Revolving credit

Revolving credit is designed to help you deal with unforeseen daily expenses. As the borrower, you decide how much money you need and how long you should repay. The revolving credit is reconstituted as and when repayments are made and can be renewed if money is needed with optional insurance.

Credit buyback

The repurchase of credit is a solution offered by your bank to simplify the management of your credits, and this, by regrouping them around a single credit. It is customizable and adapts to all situations and all profiles. It allows you to better manage your budget and reduce the amount by having monthly payments up to 60% lower.

Motorcycle loan

Motorcycle credit is a consumer loan allocated to the purchase of a two-wheeled vehicle, scooters or motorcycle. It is a financing solution for the acquisition of a motorcycle, it can be new or used. Thanks to this type of loan, you can afford the motorcycle you've always dreamed of for your everyday trips.

Wedding credit

There are loan platforms that are there to support you in your life plans, including marriage. They offer this credit with the APR twice lower than that of a revolving credit. Don't deprive yourself, now is the time to treat yourself. The marriage loan is an interesting solution to finance this unique moment.

Travel credit

Travel credit is an easy way to have sufficient financing to go on vacation. It is a loan that you could request from your bank or from financial institutions to carry out your travel plans that you have always dreamed of. Of course, the money you are going to borrow is not only used for your travel expenses, but also for your equipment.

Credit without inquiry

Credit without inquiry is available to the general public in urgent need of money. It remains special with its very short processing time and unrivaled accessibility. By opting for this type of loan, you can use the allocated funds as you wish, without you having to justify. The main thing is that you can repay your loan as agreed in the contract.

Easy credit

There are many steps that demotivate borrowers to make a loan from financial institutions, if we cite only the supporting documents, the too long processing time and complex procedures. With easy credit, all these procedures no longer exist. It consists of applying for a loan online. It only takes a few clicks for the borrower to receive a response.

CAF loan

The CAF loan is advantageous in the case where it allows to obtain a loan at zero rate. You can use the funds granted for your personal projects such as work on your house, the purchase of household appliances, the purchase of a car or even to provide for childbirth costs. On the other hand, the use must be as a first necessity, but not for comfort.

A loan commits you and must be repaid. Check your repayment capacity before you commit