Credit Industriel et Commercial
Credit Industriel et Commercial (CIC)
is a French financial services group, founded in the 19th century. Having Credit Mutuel for a parent company, the structure boosts nearly 2000 branches worldwide, 24 000 employees, and over 3.6 million clients. Furthermore, its main products include mortgages, consumer credit, savings accounts, bank accounts, and car and home insurance. In addition, the bank
offers options for managing accounts via internet or telephone.
The bank offers loans for the purchase of property and renovations of existing real estate for a period of 5 to 20 years. The loans are divided in the following categories: fixed rate, variable rate loans, and in fine Credit.
• The loans with fixed rates include the rate, its monthly repayments, and a fixed expiry date, set out immediately after the loan is borrowed.
• The loans with variable rates incorporate a base rate and a margin. The rate variations are determined by the selection of a base rate.
• The In fine Credit is designed for the rental sector. It functions by way of separating the borrowed amount and the repayment of interest.
These types of credits are meant to provide clients with the opportunity of acquiring certain benefits: vehicle, furniture, etc. The loan is repaid each month and simultaneously - a small lump sum is collected. This sum can be withdrawn at the end of the credit term. The loan terms and conditions can be accompanied by a death or disability guarantee.
The banking accounts of CIC combine services such as payment cards, international withdrawals, and online banking. Overdrafts are allowed depending on the income and expenditures' status of the client. The banking account is the basis of all other types of client’s accounts with investment functions. CIC offers some extra benefits as well:
• A single bank account can be owned by one or a few holders, usually family members;
• The account opening can be initiated by people 12+ (with parent’s authorization);
The offered services may be used in packages (which is cheaper and includes extra cards, online banking
, insurance, etc.)
Home insurances cover the contents of a real estate, consisting of 8 rooms at a maximum and representing major, second home, or buy-to-let property.
The products offered by CIC encourage entrepreneurship, resulting in the fact that one in eleven self-employed professionals in France
are its clients. In addition, car insurance is a service offered in case of theft, breakage, fire, and a third party damage.
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