Bank credit is not just a repayment line on a bank statement. Behind this generic term coexist very different legal mechanisms, costs, and protections depending on the type of loan taken out. Since the ordinance of September 3, 2025, and its implementing decrees from 2026, the very scope of what constitutes regulated credit has changed, which concretely modifies the options available to finance a project.
Consumer credit in 2026: an expanded scope that changes the game
Until recently, certain payment facilities were outside the legal framework of consumer credit. Split payment (like Klarna, Alma, or Floa), mini-loans of less than 200 euros, loans of less than three months, and lease-purchase agreements were seen as simple commercial services.
This is no longer the case. Starting from November 20, 2026, the consumer credit protection regime applies from the first euro up to 100,000 euros. Pre-contractual information, duty to warn, right of withdrawal, usury rate ceilings: these obligations now cover split payments and overdrafts.
The direct consequence for an individual comparing their financing options: a purchase “in four installments without fees” now falls under the same regulatory framework as a classic personal loan. This legal leveling makes comparison more transparent, but also requires reading the general conditions of products that seemed innocuous. To better understand credits on Banque et Finance, one must integrate this new regulatory reality into every financing decision.
Personal loan, earmarked credit, and revolving credit: three distinct logics
These three forms of consumer credit respond to specific uses, and confusing them can be costly.
- The personal loan allows the borrower to use the funds freely without justification. The rate is fixed, and the monthly payments are known from the signing. It is suitable for a project where the amount is defined but not the exact nature of the expense.
- The earmarked credit is linked to a specific purchase (vehicle, equipment, work). If the sale is canceled, the credit is also canceled. This legal protection has a downside: no flexibility in the use of funds.
- Revolving credit provides a reusable reserve of money. The rates charged are significantly higher than those of a personal loan.
The choice between these three formulas does not depend solely on the displayed rate. Earmarked credit offers better protection in case of disputes with the seller. A personal loan offers more freedom. Revolving credit only makes sense for occasional and controlled needs, never as a permanent cash solution.
Mortgage credit: amortizable loan, bullet loan, and bridge loan
The amortizable mortgage loan remains the most common form in France. Each monthly payment repays a portion of the capital and a portion of interest, with a predictable schedule over the entire duration of the loan.
The bullet loan works in the opposite way: the borrower only repays the interest for the entire duration of the loan, then settles the capital in one go at maturity. This arrangement is primarily aimed at rental investors who deduct the interest from their rental income. For a primary residence purchase, it offers little interest and a high risk if the savings built up in parallel are insufficient for the final repayment.
The bridge loan covers a specific situation: buying a new home before selling the previous one. The bank advances a fraction of the estimated value of the property for sale. If the sale is delayed, interest accrues. A poorly calibrated bridge loan can turn a real estate operation into a financial deadlock, especially in a market where selling times are extending.
Subsidized loans in the equation
The zero-interest loan (PTZ), the social accession loan (PAS), and the Action Logement loan complement a main loan. They never finance the entirety of a purchase but reduce the overall cost of credit. Their allocation depends on income criteria, geographical location, and sometimes the nature of the property (new, old with renovations).
Field reports vary on this point: depending on the regions, actual access to the PTZ varies, and the income ceilings exclude some households who consider themselves first-time buyers.
Interest rates and the real cost of a loan: what the APR reveals
Comparing two loan offers based solely on the nominal rate is a common mistake. The APR (annual percentage rate) includes application fees, the cost of borrower insurance, guarantee fees, and any commissions. It is the only legal comparison indicator between two offers.
A mortgage with an attractive nominal rate but expensive borrower insurance can end up costing more than a loan with a slightly higher rate with external insurance delegation. Since the Lemoine law, the borrower can change their loan insurance at any time, without fees or penalties. This freedom remains underutilized.
For consumer credit, the APR includes the same components. For revolving credit, the rate is variable and can change with each use of the reserve, making the projection of the total cost particularly tricky.
Criteria for choosing a loan: beyond the rate
The rate is not everything. Three parameters deserve equal attention:
- The repayment duration determines the amount of monthly payments and the total cost of interest. Lengthening the duration reduces the monthly payment but significantly increases the overall cost.
- The conditions for early repayment vary from one contract to another. Some loans impose penalties, others do not. Checking this point before signing avoids surprises in case of resale or unexpected income.
- The flexibility of payment schedules (the possibility to increase, decrease, or defer them) offers leeway in case of changes in professional or family situations.
The type of credit suitable depends on the project, the amount, the intended duration, and the repayment capacity. Earmarked credit for a vehicle, a personal loan for modest work, a classic amortizable loan for a real estate purchase: each use has its own logic.
The regulatory expansion of 2026 adds an additional layer of comparison. Solutions like split payment now fall within the scope of regulated credits and must be evaluated with the same criteria.
