About Lydia's credit line.
Customers can open a revolving credit of up to €3,000 they can use at any time.
Why subscribe to a revolving credit?
This is a consumer credit allowing customers to dispose of a certain amount of money they can use freely.
Customers can choose to use all this money in one or more installments.
They can make cash withdrawals or payments in-store.
The amount used cannot exceed the maximum amount allowed.
As repays are made, the available amount to use is replenished.
Interests are calculated based on the amount used, and not on the maximum amount allowed.
Repay periods must not exceed certain limits based on the amount of the credit.
This revolving credit is available at any time. It can be used to:
- cope with an unexpected event, such as a boiler exploding in the middle of a winter night
- advance the cost of a major project, if you don't have enough money available to settle a contractor's invoice, for instance
- spread out a large expense, if you need money to book your summer vacation
This credit provides permanent financial security.
Ask for and receive a revolving credit
Customers can apply for a revolving credit from our partner by choosing "Get a revolving credit" from the "Credits" section on the main screen.
Once customers have been granted a revolving credit, they can access it under 8 days.
Once this period is over, the money can be spent unconditionally and for any project, whether a goods or services.
Revolving credits constitute a contractual commitments: borrowers commit to repay the entire amount borrowed to the lender, plus interests, detailed below.
Cost of a revolving credit
Subscribing to a revolving credit is completely free.
Repay period | APR excluding optional insurance |
4 months | 16.90% |
5 months | 16.90% |
10 months | 13.90% |
20 months | 13.90% |
Loan repayment
A credit must be repaid. Customers must check their ability to repay before making a commitment.
Repays are made in several instalments, automatically debited from the IBAN given during subscription.
Monthly instalments are debited on the 5th of each month, at least 30 days after the date the revolving credit was used. This type of loan is a consumer loan and can be repaid early by contacting the lender, our partner FLOA Bank. Their contact details are available in the loan details, directly in-app or below.
Customers can monitor their repayment schedule from the app.
Eligibility criteria for the revolving credit
Our partner reserves the right to decide if customers are eligible to this offer.
Personal information customers accept to share with FLOA Bank are used to consider their request.
The answer regarding customer's eligibility is immediate, but the study of supporting documents can take a few days before customers are definitively granted a revolving credit.
Right of withdrawal
Customers can exercise their right of withdrawal to cancel their application within the 14 days following the date of subscription and directly with our partner.
Help
In the event of a question relating to the justification of the automatic response obtained when requesting for the loan, or to a current loan, customers may contact FLOA Bank customer service team from our partner's website or directly via email: contactlydia@floa.com, or by telephone at +33 9 69 39 11 86 (toll-free call from Monday to Friday from 9 am to 8 pm, and on Saturday from 9 am to 6 pm).
Customers must mention their customer reference during any phone calls, which can find on the screen used to monitor their current loan.
Some legal background
The Revolving credit is presented by Lydia Solutions, a simplified joint stock company registered in Paris, under the RCS number 534 479 589 with a capital of €1,478,203, established at 14 avenue de l'Opéra 75001 Paris, hereinafter referred to as "Lydia" or "Lydia Solutions" holder of the Lydia brand and registered as a Mandataire en Opération de Banque et Service de Paiement with the ORIAS under number 18007465.
Under the terms of the revolving credit, Lydia acts as principal of FLOA Bank, a public limited company registered in the Bordeaux Trade and Companies Register (RCS) 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 re-insurance broker and insurance agent with the ORIAS under number 07028160.
