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Loan affected or unallocated, what differences?


Want a new car? Or the latest smartphone? A loan brings you the necessary funds to finance your purchases. Assigned loan or unallocated loan, what to choose? Thanks to the explanations of Creditnowe, you will make the right choice.

Two types of personal credit exist: the assigned loan and the unallocated loan. To better understand what is behind these terms, read on.

Assigned credit: personal loan with a specific purpose

Assigned credit: personal loan with a specific purpose

Assigned credit means a personal loan financing a specific asset. The most common is auto financing. The renovation loan and the energy credit are other examples.

To obtain an affected loan, some formalities are necessary. You must provide supporting documents for the purchase of the property to be financed. To validate your loan, the lender needs purchase invoices or purchase orders.

The benefits of the affected loan

  • Interest rates are generally lower.

  • You start repaying your loan once the property is received.

  • It covers you in case of non-delivery of the goods.
    Imagine: you have taken out a car loan. The seller does not give you the car. Your loan is canceled. You do not have to pay anything back.

The disadvantages of the affected credit

  • You can only borrow the amount needed for the amount of your purchase. For example, you buy a car at 15,000 euros. Your loan can not exceed the value of the vehicle. You can not borrow more than 15,000 euros.
  • You must use the planned financing loan. It is not allowed to use the money obtained for another purpose.
  • Proof of purchase is required to unlock the funds.

Unallocated credit: a loan without proof

Unallocated credit: a loan without proof

To get an unallocated credit, you must not give the purpose of the financing. No voucher for the purchase will be required. This is the classic personal loan. The grouping of credits falls into this category.

The benefits of the unallocated loan

  • You use the loan amount at your convenience.
  • You must not provide an explanation as to the use of the loaned amount.
  • You decide how much you will borrow. Creditnowe offers loans of 2500 to 100 000 euros.

The disadvantages of unrestricted credit

  • Interest rates are often higher.
  • You start repaying as soon as the credit agreement is signed.

With this little overview, you will choose your loan more easily. Credit affected or not, Creditnowe always offers you the best possible rates. Simulate your personal loan online. An advisor will contact you quickly with a tailor-made loan.

Customized personal loan

For all your projects, consider the personal loan.

At Creditnowe, you borrow from 2501 to 100 000 € at a very advantageous rate.