Definition and Conditions of Unallocated Credits and Loans Offered by Solutis

How an unrestricted loan works

If you need money, unrestricted loans, also known as unassigned credit, provide quick access to funds for free use. Also, unrestricted personal credit is not secured by a mortgage or other form of security. This means that you don’t have to put any asset as collateral to get the loan. Unlike a home or car loan, the lender has no right to seize an asset in the event of non-repayment.

These types of loans are considered riskier for lenders, interest rates are generally higher than for justified loans. An unallocated loan provides a sum of up to €75,000 and repayable over a maximum period of 12 years. However, as it stands, it rarely exceeds several tens of thousands of euros, it all depends on the borrower’s income and indebtedness.

In general, unrestricted loans are granted at fixed interest rates, which means that the nominal rate is determined at the time of application and remains the same for the duration of the contract. This fast and flexible financing solution allows you to plan your repayments and plan the cost of credit in your budget.

What are the different unallocated credits?

Several types of unrestricted loans exist and can take different forms. We can note in particular the personal loan, the repurchase of credit or even the revolving credit:

• As we have seen above, the personal loan is probably the most common type of unrestricted credit. It allows you to have capital quickly without proof for current expenses or life projects. Note that reimbursement conditions may vary depending on the bank or credit institution.
• The repurchase of credit is another type of loan that can include unallocated cash, which can be very useful for people with several debts to repay. This operation consists of consolidating all your credits into a single loan. This allows you to repay all your loans in a single monthly payment and thus obtain better visibility on your budget.
• Also called revolving credit, revolving credit is also a type of unrestricted financing. This cash reserve allows you to request up to €6,000 for current expenses or personal projects. Unlike other types of unrestricted bank loan, revolving credit offers a line of credit that you can use as you wish. You only reimburse the interest and costs associated with the expense incurred.

Each type of unrestricted credit has its own advantages and disadvantages, so take the time to understand the costs associated with each financing option before making a borrowing decision.

Solutis can help you benefit from its expertise to apply for an unallocated loan at the best rate by comparing the different offers from its large network of banking partners.

What is the advantage of taking out a loan for unallocated cash?

The main advantage of unrestricted loans is their freedom with regard to the use of the borrowed money. Unlike earmarked loans, where the lender can impose restrictions on the use of the funds, unrestricted loans allow you to incur expenses to acquire goods and services or to pay bills of your choice. No document justifying the transaction will be requested by the lender.

Another advantage of unrestricted loans is their speed of approval and processing. Since no collateral is required, the acceptance process is faster. In addition, unrestricted loans are often granted with more flexible repayment terms. This specificity can help you obtain additional cash adapted to your financial situation.

Unrestricted loans can also help you improve your borrower scoring. If you repay your loan on time according to the terms of your contract, this can have a positive impact on the quality of your profile. In the future, this may help you get better loan terms and a faster deal.

How to get an unrestricted loan quickly?

If you need an unrestricted loan quickly, there are several options available.

First of all, you can contact your bank to find out the conditions for obtaining an unaffected consumer credit. If you already have a relationship with the bank, this can help speed up the approval process.

That being said, if you want to get a comparative unallocated loan offer at the best rate, contacting the Solutis broker is certainly the most interesting option. As an organization specializing in credit consolidation and unrestricted loans, we can help you obtain financing quickly and easily. By going through Solutis, you will benefit from personalized service and professional advice to help you find the quick and flexible credit solution without proof of project that best suits your situation.

Solutis has a network of financial partners, which allows us to offer competitive rates and advantageous reimbursement conditions. By applying for consumer credit online, you can get a quick response and learn about borrowing terms in less than 24 hours.