Are bank rates better than those of competing organizations?

 Bank is one of the most reputable credit organizations in the country. But what about Bank rates? Do they live up to the reputation of the group? Analysis and comparison of the Bank credit offer.

Bank rates, always in APR

Bankil rates, always in APR

Bank rates are expressed in APR (annual effective annual rate). The APR is the benchmark indicator in the field of consumer credit. It makes it possible to calculate the real cost of a loan, once compared with the duration of repayment. Our credit comparator is based solely on the APR to classify loan offers. It is also on this basis that we will compare the rates offered by Bank with those of other big names in credit.

Comparison of Bank rates

Comparison of Bankil rates

Founded in 1982, Bank is one of the pioneers of consumer credit in France. A subsidiary of Crédit Mutuel, the specialist is a trusted organization. One of Bank’ great strengths lies in the clarity of its offer, broken down into three main solutions:

  • Personal loan for all projects 
  • Small revolving credit (Accessio)
  • The repurchase of credits

Since credit consolidation is a very specific market, we will focus our comparison of Bank rates on its two main products: personal loan and revolving credit. Our comparison will focus on the competition between Bank and the other large online credit organizations. Our various comparisons show that the credit rates of banks or other players are generally less attractive than those proposed by specialists.

Bank personal loan, a solution at the best rate?

Bankil personal loan, a solution at the best rate?

Bank offers a single personal loan to cover all the money needs . This is a credit without proof of use of money, which can be used both to buy a car and to prepare for major work. Bank rates therefore do not change depending on the choice of project when you go to the site.

This single credit choice is easier to understand, where it is possible to get lost among all the specific offers from competitors such as Yoabank, Bankate, Franfinance, etc. Having only one choice is also a risk

Comparison of Bank personal loan rates

Comparison of Bankil personal loan rates

We compared the Bank personal loan with that of other credit organizations, in order to compare the offers on an equal footing. Remember that a personal loan can finance all conceivable projects, without having to justify yourself with an invoice or a purchase order. It differs from certain car or work credit solutions with supporting documents offered by certain organizations. We compared the rates of credit 10,000 USD over 48 months and 15,000 USD over 60 months to get a good overview of the level of rates of the specialist. Here’s what our credit comparator says:

Bank “Accessio” small credit rates

The small Bank revolving credit gives access to an available reserve of money. Automatically offered by the group for any request up to 6000 USD, the Accessio credit offers three repayment speeds:

  • Comfort
  • Fast
  • Express

Revolving credit from credit organizations is always displayed at higher rates than those from more traditional amortizable loans . Accessio rates are no exception. They range between 12.90% and 21.10% revisable APR.

Revisable APR rate explained

The Bank rate of its Accesio formula is a revisable, not fixed APR rate. This distinction indicates that the rate is likely to change, especially when the available money is reused. Revolving credit makes it possible to request an express transfer at any time, according to the Bank rate in force on the contract. However, this displayed rate may not be the same as that obtained when the contract was first opened. The rate is therefore adjustable and not fixed as on the personal loan formula.

Comparison of Bank revolving credit rates

Comparison of Bankil revolving credit rates

Bank revolving credit rates are average, as indicated by our comparison of a small credit 1000 USD. Each time, we compared the rates of reimbursement solutions closest to one year. The Bank “express” solution corresponds to a reimbursement period of 16 months.

The rates presented above were raised in May 2019, and are subject to change.

Our opinion on Bank rates

Our opinion on Bankil rates

Bank rates are among the best online, for all amounts and for all durations . It is however possible to find better on certain combinations by using a credit comparator. The rates are constantly changing, it is always worth taking a few minutes to compare the offers of the moment.

The only downside in our Bank opinion concerns the lack of a dedicated car loan or work loan offer. Bank does offer these two choices when applying for credit, but the rates applied are actually similar to those for personal loans. Several competitors offer real car or work loan offers, requiring proof of credit. In short, Bank is a must for any credit project without proof . Car loan or work loan offers are generally more attractive at Franfinance, Yoabank and Bankate.

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