Taking out a loan without a permanent employment contract (CDI) is entirely possible, especially in the context of a consumer loan. Unlike a mortgage, a consumer loan is more easily granted to borrowers on fixed-term contracts or self-employed entrepreneurs . Of course, you must demonstrate good repayment capacity and a stable financial situation to obtain approval from your bank or credit institution. Here’s everything you need to know to take out a loan without a permanent contract .
It’s possible to get a loan without a permanent contract!
First of all, banks and credit institutions are not as demanding for consumer loans as they are for real estate loans .
This greater flexibility can be explained by the fact that it is only possible to borrow up to €75,000 under this type of loan.
Furthermore, the permanent contract (CDI) tends to lose its value, particularly in light of two phenomena: the increase in hiring on fixed-term contracts and the massive creation of self-employed businesses since the COVID crisis.
In other words, the job market is changing rapidly and borrowers are finding themselves in a precarious situation . This is why lending institutions are adapting to these changes and do not necessarily require a permanent contract to obtain a consumer loan.
What are the conditions for a consumer loan without a permanent contract?
To obtain a personal loan offer without a permanent contract , you must provide proof of a stable professional and financial situation in order to protect yourself from the risk of non-payment.
Furthermore, proving a recurring professional activity at the time of submitting your application is a sine qua non condition for obtaining a positive response. In addition to this, there are essential criteria such as:
a maximum debt capacity of 35% (according to the conditions provided by the credit organizations, your remaining income must be sufficient to meet your needs);
healthy finances (impeccable bank file, positive account statements, current loans already paid off: all of this represents a guarantee of solvency);
a stable financial and professional situation ;
Finally, being young, having no health problems and having a high income can work in your favor with lending institutions.
One of the best solutions for taking out a personal loan without a permanent contract is to borrow with a co-borrower.
With a co-borrower on a permanent contract , you are sure to be able to obtain credit easily and quickly, because your profile presents less risk in the eyes of banks and lending institutions.