Frequently asked questions

You can submit your credit application online right now and without obligation (an answer within 1 to 4 working hours), or run a credit simulation and calculate your monthly instalment (see the simulator at the top of this page).

If you would rather speak to one of our advisers, or you are not comfortable using the internet, you can also apply by telephone on (+352) 20 20 34 41 (Monday to Friday, 9am to 1pm and 2pm to 6pm).

No. Your credit application carries no obligation, and Credit 24 never charges arrangement fees: not for the application, not for the credit. Whether the application is accepted or refused by our financial partners, or you change your mind, you pay nothing.

Once you have submitted your credit application, we analyse it and send it to one or more of our financial partners for a decision in principle. If it is approved, we contact you to explain what happens next. If it is refused, we explain why and, where possible, try to find a solution with you.

In most cases we are able to give you a decision within 1 to 4 working hours.

Yes. For security reasons, and so that we can advise you properly, we welcome you at our agency to identify you, check your original documents (identity papers, payslips and so on), give you our recommendations, answer your questions and sign your credit agreement with you.

Yes. We can welcome you at our agency from Monday to Friday until 7.30pm, by appointment only.

Your agreement is generally paid out on the day you sign your contracts, and within 24 hours at most.

The amount is sent by instant transfer: if your bank accepts this type of transfer, you receive the money within minutes. Otherwise, allow one to two working days.

You must officially reside in the Grand Duchy of Luxembourg or in Belgium. Credit 24 does not grant credit to residents of other countries.

You will find more on this on our page

Conditions for obtaining credit.

It depends on your income and your outgoings. We look at two guidelines: the share of your income taken up by your outgoings, including the new instalment, and what you have left to live on each month once those outgoings are paid.

To get a figure, use our borrowing capacity calculator: enter your income and your outgoings, and it gives you the maximum monthly instalment and the amount you could borrow for each term, at the rates of our current grid. It is an estimate: every application is reviewed personally.

As a rule, you will need to provide your identity documents and proof of income (payslips and so on). Please note that other supporting documents may be requested (proof of rent, of ownership, of residence at the address given, and so on).

Save in exceptional cases, no document needs to be sent when you submit the credit application. Credit 24 will ask for them once the file has been accepted, in order to check all the information given when the application was entered.

You will find more on this on our page

Required documents.

Find the definition and the advantages of the loans offered by Credit 24 on the page

Instalment loan.

The solutions we offer carry fixed rates, so your monthly instalments do not vary.

The instalment table for each of our loans is on the loan simulator page.

The APR (annual percentage rate of charge, TAEG in French) expresses the total cost of a credit as an annual percentage of the amount borrowed: the interest and all compulsory fees. It is the figure to compare from one offer to another.

An example: for €10,000 over 60 months at a borrowing rate of 8%, the monthly instalment is €201.43. Without fees, the APR is 8%. If a lender kept €300 in arrangement fees, you would receive only €9,700 for the same instalments, and the APR would rise to about 9.40%.

At Credit 24 there are never any arrangement fees: the APR is equal to the borrowing rate. Optional insurance, if you choose it, is not included in the APR. The details are on the loan simulator page.

No, Credit 24 will never ask you to pay arrangement fees.

This practice is strictly prohibited by the laws governing the instalment loan (consumer credit). Whether your credit application is accepted or refused, we will never ask you to pay anything to enter into an agreement.

Find out how Credit 24 is paid: the lender pays us, only if your loan is granted.

The credit is normally repaid each month, in the instalment agreed when you signed your contracts. Most of the time, and for convenience, credit is repaid by direct debit. We take care of setting up your direct debit, so you have nothing to arrange.

The first instalment falls due one month after the funds are made available.

For example: for a personal loan, the first instalment will be around one month after the agreement is signed, that being the date on which the sum is transferred to your bank account.

For a car loan financing a new vehicle, the first instalment falls in the month following the delivery date, that being the date on which the sum is transferred to the dealership's account.

Yes, you can repay your credit in full at any time. Future interest is then cancelled, so you do not pay it along with the outstanding capital.

Each early repayment carries a fee of 1% of the capital repaid early, or 0.5% if you repay the credit less than a year before its scheduled end.

For example: if EUR 5589 remains to be repaid on your credit and you repay it 2 years before the end, you will owe a fee of EUR 55.89.

If you wish to repay your credit, contact us with your agreement number to hand so that we can tell you the balance to be repaid.

It matters that you keep to the repayment dates of your loan.

If you are late, the lender may charge you late-payment interest and reminder fees.

It is important to avoid being two instalments behind, as the lender would then have to terminate the credit agreement. It could also count against you if you apply for new credit in the near future.

If you run into difficulty repaying your credit, please contact us without delay so that we can try to find a solution.

Like your bank, Credit 24 offers loans and credit to residents of Luxembourg.

Our approach to credit is different, however. Find out why you should choose a credit broker in Luxembourg such as Credit 24 rather than your bank.

Outstanding balance insurance is a life insurance policy that covers the outstanding capital of a credit agreement against the death of the insured person, as a minimum; cover can also extend to incapacity for work and loss of employment.

This policy generally serves as additional security for the lender or the bank.

The premiums paid can be deducted from your taxes through your tax return in the Grand Duchy of Luxembourg.

Yes, indeed. Each year we send you the tax certificate for the interest paid on your credit, so that you can attach it to your tax return and obtain a tax reduction.

In the case of outstanding balance insurance, you can also deduct the premium from your taxes. Simply take a copy of your policy and send it in with your tax return.