What “no deposit” can mean
A deposit, or personal contribution, is money you provide yourself before the lender steps in. On a home purchase it usually covers notary fees and part of the price. On a consumer loan the idea is vaguer: it may be a down payment to the seller, or just the absence of savings.
The answer therefore depends on the definition. Financing a washing machine in full carries far less risk than a mortgage worth more than the property. Start by deciding what you want to buy and how much it costs.
Buying a home in France: the zero-rate loan
The French prêt à taux zéro (PTZ) carries no interest and no fees, but it never pays for a purchase alone. It must accompany at least one other loan, and only lenders with a state agreement may grant it, without any obligation to do so.
The official service-public.gouv.fr page sets no minimum deposit for the PTZ. It does set an income ceiling, a main-residence requirement and a rule on recent ownership of your home. For the main loan, the bank is free to ask for a deposit, and without stable income it often declines.
Another useful marker: the PTZ runs for 25 years at most, and less for higher incomes. The official simulator tells you your zone and your ceiling.
How a lender reasons when you have no deposit
Without a deposit, the lender looks elsewhere for reassurance. It studies the type of income (unemployment benefit, a partner’s earnings, a pension), the stability of your housing, existing credit and how your account behaves.
Benefits last for a limited time, and lenders adjust the term and amount to that. These elements can strengthen a file:
- a co-borrower or joint guarantor with a stable income
- a small emergency reserve showing you can keep up with instalments
- a job offer or upcoming contract, backed by documents
- a positive amount left each month once the instalment is paid, counting only lasting income
France: personal microcredit as a no-deposit route
Personal microcredit is aimed at people who cannot get an ordinary bank loan because of low income or a fragile situation. The Banque de France mentions a ceiling of 8,000 euros over seven years at most, with interest and budget coaching attached.
It funds projects that support inclusion: a driving licence, a vehicle, training or budget stabilisation. In the Paris region, Crédit Municipal de Paris runs its Parcours Budget scheme, from 300 to 8,000 euros over up to 84 months, after a review of your budget. Elsewhere, a local support association usually handles the first assessment.
Belgium: social credit from Crédal
Crédal is a financial cooperative lending to people in Wallonia and Brussels who live on social benefits or low earnings. Its loans pay for essential goods.
Residents of Flanders, people able to borrow easily from a bank, and mortgage applicants are excluded. The page we read gives no amounts or rates, so ask for them in writing before you commit.
Whoever lends, Belgian consumer credits are recorded at the National Bank’s Centrale des crédits aux particuliers, and you may check your own entry free of charge.
If you live in Switzerland, Luxembourg or Canada, the rules differ: check your own country’s public body before comparing offers.
Working out what the loan really costs
With no deposit, you borrow more, so you pay more interest. Compare the APR (the French TAEG) rather than the nominal rate, since it includes arrangement fees and any compulsory insurance.
To see the full cost, multiply the monthly payment by the number of months and subtract the amount borrowed. As an illustration only, borrowing 3,000 euros instead of paying 600 up front means interest is charged on those 600 euros for the entire term.
Ask for a written offer and use the legal withdrawal period to compare it with others calmly.
Warning signs
Be wary of any intermediary who promises a loan with no conditions yet asks for fees before paying out. A serious lender takes its charges from the loan or after approval, never through an advance transfer or prepaid card.
In France you can check an intermediary on the ORIAS register. If your current instalments already exceed what you can afford, see a free budget advice service before taking on new credit.
Never sign a contract you could not read in full, and ask for time to review it at home.
Frequently asked questions
Can I get a mortgage without a deposit while unemployed?
It is uncommon. Without a stable income, most banks ask for a deposit, a guarantor or a co-borrower in work. Practice differs between lenders, so prepare a complete file and compare several offers before giving up on your plan.
Does the French zero-rate loan require a deposit?
The official service-public.gouv.fr page sets no minimum deposit for the PTZ. It always sits beside another loan, however, and the bank decides whether the whole financing plan holds. Check your income ceiling with the official simulator.
Can a co-borrower replace a deposit?
Not formally, but a co-borrower’s income can reassure the lender. That person becomes liable for the whole debt if you cannot pay, so discuss the risk openly before signing, since their income and assets are exposed.
Does a microcredit need a deposit?
The organisations’ pages we read mention no compulsory deposit. They look mainly for a project that helps inclusion, repayment capacity and budget coaching. Each body sets its own criteria, so confirm them directly with the one you contact.
Useful organisations and links
- Crédit Municipal de Paris – Microcrédit personnelPersonal microcredit from 300 to 8,000 euros with a budget review, for Île-de-France residents.
- CrédalBelgian cooperative: who can borrow in Wallonia and Brussels on low income or benefits.
- Service-public.gouv.fr – Zero-rate loan (PTZ)Official French conditions for the PTZ: income, main residence, combination with another loan.
Links to third-party organisations with no commercial tie to this site. Always check the conditions with them directly.