Cofidis: Fast online credits of up to € 4000!

By | May 31, 2018

Cofidis is one of the most popular personal loan companies in all of Spain, and one of the largest recognized in the sector. In this article, we explain everything you need to know about the loans it offers and whether or not it is reliable. Let's go there!

What type of loans does Cofidis offer?

As you well know, Cofidis is a large financial institution , so we do not find a single type of loan without collateral that we can access (as happens with other types of similar entities), but we have different options.

Next, we detail the characteristics of all those different credits.

Cofidis Credit Car

The first of the credits available in Cofidis is the Car Credit , and, as you can imagine, it is designed for you to buy a vehicle. It is a fairly reasonable option, because they offer you a good amount of money and at a fairly reasonable interest rate.

The first thing to say about this loan is that you will not be charged an opening commission, and the second is that the TIN will be around 5% (although it may vary slightly depending on macroeconomic factors).

Another very favorable point, and that it shares with the other loans offered by this entity, is that it is an urgent loan that takes very little time to process. This, logically, is something to value very positively.

And, whoever goes to a quick loan to buy a car is because they need it as soon as possible, so the fact that it is processed at high speed is something to take into account and value positively.

The APR of this loan is between 6.12 and 10.45%, this being the minimum and maximum values. As you can see, it is something reasonable (taking into account that it is a fast loan without endorsement, of course).

An important point to mention here is that we are not talking about a car loan, but a car loan. In the first case, you use a car that you own as collateral, in the second, there is no collateral and the goal is to buy a car (we assume you know the difference, but, just in case, we point it out).

Cofidis Credit Reform

This quick credit from Cofidis, as you can guess from the name, is intended for home renovations. And, the truth is, it is very well thought out both offering a loan of this type, as well as accessing it to reform your home.

Why is it a good idea to use this loan? Well, for example: Imagine that you have inherited an apartment, but it is in poor condition because it has not been renovated for a long time. However, if you reform it, you could rent it.

Maybe the reform will cost you € 10,000, but, once done, you can rent that house for € 500 per month. Well, instead of putting that money with your savings, you can ask for a loan, make the reform, and that the rent is paying the loan you have received.

In this way, you do not undercapitalize, and you make your assets much more profitable . It is a very interesting idea, although the total expense is going to be a little higher (due to the interest cost, of course).

In this case, the loan can be for up to € 15,000, to be repaid in a maximum of 72 months, and with an interest rate that is between 6.12 and 10.45%. Something more than reasonable if you are going to undertake an investment like the one we have mentioned.

Cofidis Credit Studies

In this case, we are talking about a loan that is designed to pay for your studies (and, although we have a reasonably good public education, the truth is that there are certain associated expenses that you have to face - and, remember, invest in yourself is the best investment you can make).

The good thing about this credit is that it is slightly different from the previous ones, and has slightly better conditions. Thus, we find that we can access the € 15,000 anyway, but the maximum term to return it will be 48 months (instead of 72).

In addition, the interest rate will be lower, ranging between 5.07 and 8.27%. In this way, Cofidis tries to bring the possibility of studying to everyone through its fast loans without endorsement.

Cofidis Credit Project

Another credit offered by Cofidis is the Cofidis Credit Project (internal link to cofidis credit project) , which is designed for businessmen and entrepreneurs who want to start a business or who want to invest to expand their business areas.

Logically, this type of financing is different from that oriented towards consumption (as in the cases we have seen previously). Here we find that the interest rate is much more variable.

The minimum is lower than in consumption, being 5.06%, but the maximum can go up to 16.03%. Why this greater variability? Well, for the simple reason that, in some cases, these ventures are very clear and viable (the risk is lower) and, in others, the risk is much higher than that of a consumer loan, so interest increases.

For the rest, the maximum is still € 15,000 and can be returned in a minimum of 12 months and a maximum of 72 months. That does not change.

Cofidis Direct Credit

Finally, we have the Cofidis Crédito Directo, which is the typical personal loan offered by Cofidis. What they offer you is up to € 6000 in 24 hours , and they are fully adaptable to your economic and financial situation, so you don't have problems.

Among the Spanish financial advisors, the Cofidis quick loan is one of the most recommended, because it has a large number of advantages and the requirements and conditions are quite reasonable.

You can receive between € 500 and € 6,000 to be returned in a minimum of 12 and a maximum of 48 months . Of course, the interest rate is considerably increased compared to the options previously seen, because, by being granted so quickly, the risk for the entity is very great.

That is why the APR of this credit can be up to 24.51%. Of course, the advantages of being able to access a loan of these characteristics so quickly and without questions is something that must always be taken into account.

Who are the Cofidis loans aimed at?

As you have seen before, Cofidis loans are not designed for a single type of person , but rather have different fast loans for different types of people. However, we can differentiate three large groups:

  1. People who need money quickly and without questions : Here we find the Cofidis Direct Credit, which is one of the most demanded and famous. It is designed so that you can have money quickly and without having to give explanations of any kind. Therefore, your interest rate is higher.
  2. People who need a quick mini-credit for something specific : Here we could include car loans and reforms, because they are for something specific that Cofidis can calculate (more or less) and understand what the risk will be. It is less fast and direct than the previous one, but it is still easily accessible. For all this, the interest rate is somewhat lower.
  3. Entrepreneurs and students : Cofidis' last target is students and entrepreneurs, to whom it offers more favorable conditions (with some risky exceptions, as we have already seen). Here, Cofidis can control risk much better, hence the interest rate may be lower.

These are the profiles to which Cofidis directs its quick loans. However, we must not forget that there are characteristics common to all of them , such as being able to offer the loan without an endorsement or being able to choose the financing term (between 1 and 3 years).

This is especially important, because traditional banks can take weeks to decide whether or not to give you a loan. Instead, Cofidis will tell you whether or not it gives you the credit in record time.

Opinions about Cofidis

The opinions about the mini-credits and fast loans of Cofidis are, in general, very positive. Obviously, as long as we compare them with those that are dumped on other similar financial entities.

What do we mean by the latter? Well, you cannot compare Cofidis with the loans that a traditional bank gives, because these banks are in charge of analyzing the potential borrower very well, and, in this way, they reduce the risk and can reduce the interest rate.

Instead, Cofidis is responsible for offering loans without collateral and quickly, so the risk is much higher. And, since the risk is much higher, the interest rate they charge must also be higher.

That is why, if we compare Cofidis with a bank, we are cheating the loner. Because, yes, the bank will have lower interest rates, but, probably, they will not grant you the loan, because you do not have collateral.

That is the difference. That is why we do not consider that criticisms of the Cofidis interest rate should be considered, because they tend to compare that interest rate with the one that banks lend. And this is wrong.

What can (and should) be done is to compare the interest rate that Cofidis charges us with that charged by other similar financial institutions , specialized in fast loans without collateral.

If we do this, we will verify that the interest rate offered by Cofidis is lower than those of the other companies.

And the reason for this is simple: Cofidis is one of the largest fast and unsecured lending entities in the whole of Europe , and that has allowed them to have enough money to invest in systems that speed up procedures and reduce risks.

With this, they can afford to lower the interest rate at which they lend the money a bit (remember that this interest rate is where the benefit of the entity comes from, if not, they would not provide such a service).

Another very frequent criticism (this time positive) is that it has a large network of offices (compared to other similar financial entities), and that is something that gives peace of mind . In the next section we talk in more depth about this.

The international presence of Cofidis

One of the strongest points of Cofidis is that it has a strong international presence, offering its services in a large number of countries . Also, it has a pretty good number of offices in all those countries.

Thus, we can find Cofidis in Italy, Belgium, Spain, the Czech Republic and France, among other countries. And, of course, it goes without saying that this international presence is because they do their job very well.

In addition, this international presence and the fact of having physical offices implies that you can go to claim a physical place, with people of flesh and blood, something that gives a lot of confidence and tranquility to customers.

And it is that, in these times, it is very common for fast loan companies without endorsement to be a simple website and a small office with two or three people who nobody knows where they are (many times, that office is not even in the country in which you are operating).

So, in these times, the fact that Cofidis has a physical presence in the different countries in which it operates is something that should be valued very positively , because it generates trust and tranquility in customers.

Other personal loan companies that may interest you ...

Now, to finish, we give you some other personal loan companies that you may be interested in :

Cofidis Credit Project



ING Direct Loan


Evo Finance Loan

Younited Credit

BBVA Personal Loan

As you can see, Cofidis is a financial institution that offers a large number of loans of very different characteristics , so surely there is one ideal for your needs. So, as they say ... Your projects have credit!