How to Get a Personal Works Loan?

Your home needs a makeover! Whether you want to redecorate your entire home, carry out work to reduce your energy consumption or simply improve your daily comfort, La Banque Postale offers financing solutions tailored to your needs. Discover them!

What is the Works Personal Loan?

You are a tenant or owner already well established in your home and wish to obtain a loan to carry out renovation work, banks or other financial institutions offer you consumer credit.

Consumer credit , allows you to finance in particular all your renovation works except those related to the purchase of real estate or which require the request for authorization for a building permit, for which the subscription of a home loan is indicated .

At La Banque Postale, you can take out a Personal Works Loan  for your development projects:

  • The complete renovation of the bathroom;
  • The installation of an equipped kitchen

What Are the Main Features of the Personal Works Loan?

The Subscription Amount

Like any consumer credit, these loans can be taken out for a maximum amount of $75,000 . If the need for financing is greater, you will need to turn to a mortgage.

In addition, La Banque Postale sets a minimum amount for the subscription of these loans at $1,500 to enable you to finance your minor works.

The withdrawal Period

After accepting the loan offer, you have a withdrawal period of 14 days from your acceptance of the loan offer. This is a reflection period during which you have the opportunity to change your mind after signing the loan offer. If you make use of the right of withdrawal, no penalty may be requested.

Early Repayment

An unexpected cash flow? These loans can always be repaid early according to the terms of the signed contract.

The Term of the Loan

The duration of these loans depends on both the amount borrowed and your financial resources. Check your repayment capacity so as not to opt for too high a monthly payment.

Example: for a Personal Works Loan of $15,000 over 72 months at a fixed borrowing rate of 5.70%, i.e. a  fixed APR of 6.22% , repayment is made in 72 monthly installments of $248.93 . Total amount due: $17,922.96, including $150 administration fees. 

Optional death and disability insurance : TAEA of 1.76%, i.e. $11.88/month (not included in the monthly payment), i.e. a total amount due over the total duration of the loan of $855.36.

How to Apply for a Personal Works Loan?

A few minutes are enough today to apply for a Personal Works Loan, without even leaving your home  ! At La Banque Postale, our teams can take your borrowing file into account in several ways. You can:  

  • To submit an application for a Works Personal Loan on your Online Subscription Space  if you are already a customer;
  • To ask to be called back by a personal adviser  ;

You can also inquire directly at the post office .

Supporting documents necessary for the study of your file will be requested. You must provide at least the following supporting documents 

  • A copy of both sides of a valid identity document (identity card, residence permit, passport, etc.);
  • Proof of address dated less than three months (electricity or gas bill, rent receipt, etc.);
  • Proof of your income  (last payslip and that of December of the previous year, the last tax return and the last two tax notices for the self-employed, etc.).

How to Get Your Personal Works Loan Offer?

Before applying for a Personal Works Loan, perform a simulation. It is a very simple process and 100% online. It only takes just a little minutes. All you need to do is provide all or part of the following information:

  • The amount of the desired loan;
  • The ideal repayment term for you;
  • Or directly the monthly payment that you are ready to repay. 

The Key Points to Remember About the Personal Works Loan

Rate, monthly payment, insurance… Your personal La Banque Postale adviser is at your disposal to assist you in your renovation project and to introduce you.

  • The Personal Works Loan allows you to carry out renovation work in your house or apartment. 
  • It adapts to the situation of the borrower.
  • A work loan simulation allows you to better anticipate your project.

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