Everything you need to know about Lydia Instant Loan
Lydia allows users to borrow between €100 and €1,500 credited instantly or after 7 days 14 days to their Lydia account, or €500 and €3,000 credited after 7 to 8 days to a bank account of their choice.
Why should I subscribe to an Express Loan?
We've all had a pressing need for money at times, and no one to turn to for help. With the Small Express Loans, you can now, immediately...
- Face an exceptional need, such as buying gifts or replacing broken down equipment (computer, washing machine, scooter);
- Spread out a significant expense already made, such as plane tickets, holiday reservation & accommodation.
The Small Express Loan brings a little air when you need it. It’s simple & instant, and reimbursable within 3 to 36 months.
How to get an Instant Loan 💰
Users can apply for a loan from a partner, with the Lydia app:
- by selecting "Express loan starting at €100" from the Market (5th tab of the app), or from a Lydia account (1st tab of the app);
- by selecting “Spread this payment over 3 months” on a payment receipt, from its Transaction History;
- from any main tab, by tapping on "Collect" at the bottom of the screen, then "Express loan"
Receiving and using the money ⏱️
- For a loan between €100 and €499.99, the money is credited to the user's Lydia account, either instantly or after 7 days;
- For a loan between €500 and €1500, the money is credited as desired:
- on the user's Lydia account, either instantly or after 7 days;
- on a bank account of their choice, after 7 to 8 days
- For a loan over €1000, and up to €3000, the money is credited after 7 to 8 days to a bank account of their choice.
In any case, the money can be spent unconditionally, for any project, whether it be a good or a service.
The Small Express Loan is a contractual commitment: it commits the borrower to repay the entire amount borrowed from the lender, plus fees, detailed below.
Cost of Lydia Instant Loan 💁♀️
Like any other loan, the Instant Loan is a paying service with both variable and fixed costs. Costs are calculated according to both the amount lent and the delivery method users chose.
For a loan paid back in 3 monthly installments
In this case, the Loan is not a consumer loan but a payment facility.
The user pays a fee related to the value of the loan*.
Example of total cost for a loan
€100 to €200
€7.45 for €250 borrowed
€200 to €1,500
€35.76 for €1,200 borrowed
If the user wishes to receive the money instantly, a fixed charge will also be applied (in addition to the above fees).
Fixed fee per instalment
€100 to €199.99
€200 to €299.99
€300 to €499.99
€500 to €1000
€1000,01 to €1500
*Paid in 14 days
For a Loan paid within a few days* and repaid in 6 or more monthly payments
In this case, the Loan is a consumer credit.
APR excluding optional insurance
Example of total cost for a loan
€18.00 service fee + €37.76 variable fee per €1,000 borrowed
€18.00 service fee + €87.08 variable fee per €1,000 borrowed
€18.00 service fee + €190.40 variable fee per €1,000 borrowed
€18.00 service fee + €299.60 variable fee per €1,000 borrowed
*Paid in 7 days
👉 For a more accurate fee estimate, make an Instant Loan simulation from a mobile, by following this link.
Paying back an Instant Loan 😎
A loan commits you and must be repaid. Check your ability to repay before committing yourself.
Repayment is made in several monthly instalments, automatically deducted from the user's bank account, via the bank card or IBAN provided at the time of subscription.
For loans repayable in 3 months, these monthly payments are taken at 30, 60 and 90 days after the subscription date.
For loans repayable in 6 months, 1 year, 2 years, 3 years, these monthly payments are taken every 4th of the month, at least 30 days after the date of payment. This type of loan is a consumer loan, which the user can repay early by contacting the loan provider, Younited Credit. Contact information can be found in the loan details, directly on the app, or below.
The user can track their schedule from the app.
Eligibility criteria for an Instant Loan 👍
Our partners reserve the right to determine whether the user is eligible for the offer.
The personal information that the user agrees to share with the bank will be used to evaluate the application.
The response is immediate and final once the funds have been paid.
Payment of the fees, by credit card or SEPA direct debit, confirms the subscription.
Retraction right ❌
The user may exercise their right of withdrawal, to cancel their loan application, within 14 days from the date of application.
To learn more about how to cancel a Small Express Loan, click on this link.
If any questions are raised relating to the automatic response justification obtained following the loan request, or regarding a loan in progress, the user may contact directly, depending on the partner who processed the loan request:
- to the FLOA Bank customer service team, which can be reached by email at the following address: firstname.lastname@example.org, or by telephone on 0 969 39 11 91 (toll-free Monday to Friday from 9am to 8pm, and Saturday from 9am to 6pm).
- to the Younited Credit customer service team, which can be reached by email at the following address: email@example.com, or by phone at 01 76 49 03 78 from Monday to Friday from 9:30 am to 8:00 pm
The user will have to mention his customer reference during the telephone exchanges, information that they will find this information in the follow-up screen of his current loan.
To read the General Conditions of Use of the Loan with Younited Credit, click here.
A little legal background 👩🏫
The Small Express Loan is presented by Lydia Solutions, a simplified joint stock company registered in Paris under the number 534 479 589 with a capital of €1,478,203, located at 14 avenue de l'Opéra 75001 Paris, hereinafter referred to as "Lydia" or "Lydia Solutions", owner of the Lydia brand and registered as a Banking and Payment Service Agent with the ORIAS under the number 18007465.
Under the terms of the Small Express Loan, Lydia acts as principal:
- From FLOA Bank, a public limited company registered in the Bordeaux Trade and Companies Register (RCS) 434 130 423, with a capital of 42,773,400 euros, whose registered office is located at Bâtiment G7, 71 Rue Lucien Faure, 33300 Bordeaux. FLOA Bank is a credit institution subject to the supervision of the Autorité de Contrôle Prudentiel et de Résolution (bank code: 14628) and registered as an insurance or reinsurance broker and insurance agent with the ORIAS under number 07028160;
- Or Younited Credit, a public limited company with a management board and supervisory board, registered with the Paris Trade and Companies Registry (RCS) under number 517 586 376, with a capital of 1,333,756 euros, whose registered office is located at 21 rue de Châteaudun, 75009 Paris. Younited is a credit institution and investment services provider approved by the Autorité de Contrôle Prudentiel et de Résolution (bank code: 16488) and registered as an insurance or reinsurance broker with the ORIAS under number 11061269.