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What is the maximum duration of a work loan?


What is the maximum duration of a work loan?

Do you want to renovate your home or replace some of its equipment? A work loan is recommended. Let's see how it works and the duration of a work loan.

What is a work loan?

Whether you live in a house or an apartment, taking out a work loan may be necessary to finance new developments. The borrower will be able to ask a bank or a credit institution for an amount between € 200 and € 75,000 that he will then repay in the form of monthly payments of an amount and of a variable duration according to its needs, and its repayment capacities according to the calculation of the debt ratio .

Different types of work are concerned by the personal loan work, including carpentry, change of plumbing, interior decoration, or energy saving work to reduce energy consumption. The work can be carried out by a professional, or by the individual, the borrowed sum will then be used to pay for the equipment.

Work loan: the maximum duration

In general, a work loan will have a maximum duration of 10 years. The duration of the works credit will depend mainly on the amount borrowed. Indeed, if it is greater than 75,000 euros, we will move to the mortgage loan category, or a long-term work credit. In this case, the duration of the work loan can extend from 10 to 30 years for repayment. It is therefore important to estimate your financial needs precisely in advance in order to know if you are going to switch to the long-term work loan category.

How to take out a work loan?

Among the credit institutions with which to take out a work loan, you can call on Finance Studio. The subscription terms are very simple and can be done easily from your home:

- Work loan simulation : you can thus define all the modalities, namely the amount, the repayment period, the type of monthly payment , or the rate.

- Online subscription: once you have found the ideal option for you, validate the simulation. You will then get an immediate policy response.

- Printing of the contract: or receipt by post if you do not have a printer.

- Signature and return: then return the contract duly signed and accompanied by the necessary supporting documents. If you have a well-defined project, choose one of the personal work loans from the wide Finance Studio range.