Personal Loans

A personal loan is a loan that involves the disbursement—by a bank or authorized financial company—of a fixed sum, usually between €1,000.00 and €75,000.00, at a fixed interest rate and repayable according to an amortization plan with constant installments over a period of between 12 and 120 months.

This type of financing is reserved for “consumers,” i.e., individuals who make purchases for their private needs and not for professional purposes.

It falls within the category of non-specific-purpose loans, i.e., transactions not directly related to the purchase of a specific good or service; therefore, it is not necessary to justify the use of the sums obtained.