Gandalf is a large European bank dedicated to consumer loans and loans. That is to say, an excellent option if what you are looking for is a personal loan with which to finance a whim or project. Let’s see it with something more depth!
What is Gandalf? A little history
Gandalf is a bank dedicated to consumer loans. This includes both online credits, such as credit and consumer-oriented credit cards.
It is a French bank that already has more than half a century of history, having been born in 1953 by Jacques de Fouchier. Just 10 years later, I started trading on the Paris Stock Exchange . This was the spectacular growth of this bank.
Since then, it has remained fairly at the forefront in the world of loans and credits. So much so that it was the first bank in France to offer credit cards, back in 1965.
In 1973 Gandalf Direct was born, which is the part of the business oriented to give loans and credits to consumption (for which we analyze it today). And in that same year they also create CARDIF, an insurance company.
In Spain we did not have the presence of Gandalf until 1988 . Since then it has been growing little by little, employing 1200 people and having 2.5 million clients (only in Spain, in the other 25 countries in which it operates, it has many more).
Another interesting point of Gandalf is that it is a partner of a large number of companies dedicated to consumer products, such as furniture, computers or the automotive world.
So, when one of these companies finances your products, they are often doing it through Gandalf.
Gandalf … Is it reliable?
With all the above, it must have been quite clear that yes, it is totally reliable. Not only because they have a long history and a lot of experience behind them, but because, really, they have smart managers who are doing things very well.
In addition, you have to take into account that Gandalf operates in more than 25 countries . This means that it is subject to the analyzes and studies of the different organizations and regulatory entities of each of those countries.
If any of those entities saw something strange, they would issue a report that, automatically, would be available to all other entities, which, in turn, could take action against Gandalf.
In short, it is a company closely monitored and fully analyzed and supervised by the competent authorities of several countries, and that means that you can not do improper things and that you must take care of your accounts to the fullest.
And, in fact, it does. That is why the crisis of 2008 barely affected him and he was able to continue growing with relative calm (all the peace of mind that can be had when your business is dedicated to credit and you are in the middle of the biggest crisis that is remembered, of course).
So, in general, you can rest assured: You do not have to fear any type of fraud or fraud by Gandalf , and you do not have to fear that it is an insolvent bank. It is not.
The activity of Gandalf
Gandalf has a broad activity, with different small businesses that seek to offer solutions to different problems that we can have in our day to day as consumers. They are the following:
- Point of sale financing : This is the bulk of Gandalf’s business, representing 60% of its activity (more or less). It is, as we mentioned before, the financing of consumer products in physical stores where they are sold through their partners. It has more than 4000 partners and 1000 associated dealers.
- Credit cards : This is Gandalf’s second business, and represents 30% of its activity. They have more than 430,000 active cards around the world, which gives a good account of the broad scope of the company in this regard.
- Direct credit : Finally, there are the direct credits, which is the “least important” type of business of Gandalf, since it represents only 10% of its activity. You can contract your credits through its website, via WAP and through the telephone. In addition, the fact that it represents a small part of the total of your business is something positive for anyone who wants a loan, because they offer better conditions.
The Gandalf Observatory was founded in 1985 , and is dedicated to qualitative and quantitative studies about the consumption behaviors of Europeans (now also in Russia, Brazil and Turkey), as well as trends and new forms of distribution that appear. .
This is not something that faces the final customer, but they use it to have more information about where the company is going in terms of consumption and, in this way, to be able to anticipate events and have better results. in your business.
In any case, these studies are published year after year, so any interested person can access them and take a look.
What credits does Gandalf offer?
Gandalf, like many other similar financial entities, has several direct loans available, depending on your objective . Here are the most important and common ones:
This first type of loan is a loan to buy a car , as you can guess by name. What Gandalf is looking for is to help you get a new car, taking advantage of the strong presence it has in the dealerships and their associations with different brands.
Of course, it’s not just for buying a car. Gandalf can also help you buy a motorcycle, thanks to the great agreements you have with brands from around the world and, more particularly, with very different dealers.
The minimum to request here is € 3000 to return in a maximum of 60 months, with a maximum of € 50,000, which will have to be returned in a maximum of 96 months. The minimum term for the return is three months.
The TIN ranges between 5.95% and 13.99%, while the APR ranges between 6.11% and 14.92%.
Reform and Home Loan
As you can guess from the name, here we are talking about a loan that is granted with the objective that you can pay for those arrangements that you want to make in your home (be it a reform or the purchase of new furniture).
The conditions of this loan are exactly the same (both in terms of amounts, as regards terms and interest rates) as in the previous case.
Credit for travel and leisure
Surely you have already guessed by the name: Credits so you can travel or spend a few days of relaxation ! They are ideal to celebrate the honeymoon or an anniversary that will be worth remembering.
In this case, the characteristics of the loan are practically the same as those mentioned above, but the TIN and minimum TAE are somewhat higher. Thus, the minimum TIN will be 6.95% and the APR will be 7.18%.
Loans for studies
Ideal for students who have a clear future , but who do not have the necessary liquidity to face the costs of their studies. Not only the university’s enrollment is included, but many other options related to the studies.
In this case, the conditions are exactly the same as in the previous case (that is, the cost of a loan to finance university studies is the same as to finance a trip to the Bahamas – it does not seem quite right, but they will know why they do it, right?)
Health loans are designed so that you can face the costs associated with some type of treatment to keep you up to date (generally, it is used to finance assisted reproduction or something related to dentition).
This loan has the same conditions as those we have seen before: A maximum of € 50,000, in a maximum term of 96 months (60 if the amount is less than € 10,000), and an APR of 7.18% and TIN of 6 , 95%.
Credits for celebrations
This type of loans are designed for weddings, birthdays or any other event for which you need money , because you want to mount it big but you do not have liquidity at that time.
As for the characteristics of this loan, the same as in the previous case apply.
Loans for other projects
Finally, there are loans that are outside any of the above options, and that can be included in the “Other projects” section. Here comes any loan to start a business, for example.
In this case, the characteristics of the loan are the same as in the previous cases, which is somewhat surprising, because, there being the possibility that these loans are used to start businesses (which, by definition, implies a greater risk ), the interest they should demand should be greater.
It is not, so it is best for anyone who has in mind to take one of these loans to start a business.
Reunification of Gandalf debts
Apart from personal loans (internal link to landing of personal loans) as such offered by Gandalf, you also have the possibility of going to your debt reunification service. This service is the solution for when you see that the credits you had are drowning you.
The reunification of debts consists of taking all the debts that a person or a family has, making a package, and letting it be paid by the financial institution that is going to refinance us. Then, we extend the repayment terms of the total loan so that the total to be returned is lower.
What we do with it is pay more, but increase the amount of deadlines, so we do not have to face such a high expense month after month. It is not always advisable, but, if the debts are drowning you, it may be the only option.
In this case, the minimum NIR is 10.90%, the APR is 11.46%, the maximum amount to be financed is € 50,000, and the months to repay the debt range from 3 months to 120 (that is, , 10 years).
Characteristics of Gandalf loans
The Gandalf loans share some very interesting characteristics that make hiring them the most interesting :
- They are 100% online.
- The answer is immediate.
- You have no ties when you take out the loan.
- You have maximum flexibility.
- You have a Client Space.
- You will have the support at all times of the specialized people of Gandalf.
- Possibility of obtaining credits for less than € 3000 through the credit card that the same company offers.