Most of the contracts signed with lenders are fixed-term contracts, while lenders far prefer borrowers on permanent contracts, that is to say fixed income. And more and more people without any employment contract who ask for credit to carry out their project. As a result, the banks had to adapt their offers to these new categories of customers.
Significant risk taking for financial organizations
Employers no longer commit for the long term. This is undoubtedly due to the fragmentation of the sectors of activity which goes with the increase in the number of start-ups, therefore the number of entrepreneurs. As a result, the banks find themselves in a situation of significant risk taking. 80% of contracts are signed with employees on fixed-term contracts. Due to the presence of these profiles who do not justify regular income or particular stability in their professional situation, lending institutions are more and more demanding. They must impose strict conditions. Thus, to have a positive response for a loan without CDI, additional guarantees on file will be required.
Additional conditions required by lenders to borrowers without CDI
Financial institutions therefore accept (anyway) credit without CDI, but under conditions. For example, to obtain a personal loan without having an open-ended employment contract, it is essential to present a credible file to the bank. Even if the borrower does not have all the conditions required, it is still possible for him to build up an interesting and balanced file. What do you mean?
The first condition is that the client must have a source of income on a recurring basis. The recurrence of income and the absence of periods of inactivity can now be favorable for obtaining credit. The control of the budget is also an essential parameter which shows the seriousness of the borrower and his desire to borrow in a reasonable manner. His latest account statements must show no defaults.
Personal loan and revolving credit: the two offers accessible to borrowers without fixed income
The personal loan is an offer intended to finance various personal projects such as the purchase of a car, the organization of a trip, the financing of studies or even the completion of renovation works. The amount to borrow must not exceed 75,000 euros. The repayment tenure is between 12 and 120 months. The overall annual effective rate or APR is fixed. In order to be granted this loan, the borrower’s debt ratio must not be higher than 33%. Unlike the mortgage, the personal loan is flexible.
Revolving credit works like a credit card. It is suitable for those who want to borrow money quickly.
To sum up, people on fixed-term contracts or those with no fixed income today have the chance to be granted credit. They can try personal loan or revolving credit.