How to choose between online credit or bank branch?

We are going to compare online credit and bank branch credit. In the majority of cases, the choice is fairly simple. Indeed, online credit is mostly cheaper and more accessible than at an agency.

Is online credit cheaper than at a bank branch?

Apply for a loan from FinderCash or from its bank? At FinderCash or with any other credit organization elsewhere? The question is legitimate. When comparing credits, there are two essential criteria to take into account. It’s the same thing when comparing online credit and credit at a bank branch:

  • Will my loan be granted?
  • What rate can I get?

If you compare these two factors between bank lending and online credit specialists, there is no picture.

Clarification : We designated online credit as the credit of large lending organizations such as Viloan, Credither or FinderCash. These companies specializing in consumer credit offer automated acceptance systems. They allow you to get answers in principle immediately online, which the banks do not offer. Our credit comparator is also connected to each of these systems to give an immediate response in principle. It is the only online credit comparator

Acceptance rate

This is undoubtedly what most differentiates online lending from organizations such as Viloan or Credither and bank credit. Indeed, banks use consumer credit only to support their best customers in their project. This is absolutely what is called a product to win new customers.

To be able to obtain a loan from your bank, you will have to be a client for several years and be a good client. It means having savings and not being overdrawn. Banks have not developed know-how in assessing consumer credit risk on new customers. Whereas for consumer loan organizations, it is quite the opposite. Their job is to predict who they can lend to or not.

The acceptance rate is therefore much better for online credit than for bank credit. When you are not a good historical customer of your bank, there is a good chance of obtaining a loan refused by your bank.

Who offers the best rate?

Again, it is usually the specialized organizations that offer the best rates, but our opinion is less clear-cut. Indeed, depending on the type of loan and the time of year, bank credit can be competitive compared to online credit.

Used car loan and personal loan

As our survey on used car credit has shown, banks and dealers are not fighting too much for this type of loan. There is not much to expect from them. It is the same thing for personal loans. Indeed, these two categories of credit are a little more risky. Specialists are therefore better able to fight to offer the best rates. To find out the best rates from specialized organizations, simply use our comparator.

New car loan and work credit: compare online and bank credit

It is in these two categories that there can be greater competition between online credit and bank credit. Indeed, since there is less risk and the banks lend only to the best customers, they can offer better offers. We particularly note the CreditCole car loan and the Bankate car loan.

Regarding the works loan, the cases can be very specific. Indeed, in the case of a works credit in the context of a real estate loan with works, only the banks are in the game. There are no online consumer credit agencies. On the other hand, if the financing is strictly limited to works, then it will be really necessary to compare the credit online and in bank agency. We have grouped together all of our advice to negotiate your credit.

Home loan

There is almost no mortgage online. Only online banks are starting to offer them, such as Zaloan credit for example. Even if the banks have the advantage when comparing online and agency credit in terms of mortgage, the fact remains that you have to compare the banks as well as the brokers. It is on this basis that we have adapted our comparator.

Delays between branch credit and online credit

One might legitimately think that agency credit is faster than online credit. Especially to get the money. It is not and it is not the fault of the bankers. Indeed, it is the law on the withdrawal period which does not allow a financial transaction to be carried out within 7 days of the signing of a credit contract.

Thus, credit in an agency is not faster than online credit to obtain money since they are subject to the same legal withdrawal period.