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Sometimes, everyday life throws unexpected, essential expenses our way. The OptiLine credit facility helps you face these little surprises with peace of mind.

What is a credit line?

A credit line is a flexible cash reserve that you can draw and redraw as you need it, up to the limit agreed at the outset.

How does the OptiLine credit facility work?

Once your borrowing capacity has been reviewed, the BGL BNP Paribas OptiLine credit facility(1) is activated on a standard “OptiFlex” current account. You can draw on your line of credit for an indefinite term and up to a set amount.

The overdraft on your line of credit will be totally or partially eliminated as payments are made into your current account. Interest is only applied to the amounts drawn, in proportion to the time period. You can redraw the loan at any time, up to the amount granted.

What is a line of credit used for?

The OptiLine credit facility helps you cover everyday expenses.

You can use this line of credit to cover all kinds of unexpected expenses:

  • housing costs ;
  • taxes ;
  • childcare expenses ;
  • etc.

What are the benefits of a credit line?

  • You can draw on your cash reserve as you need it, any time.
  • It’s up to you when you repay your loan because there is no fixed repayment schedule.
  • You can draw on the line of credit using your current account and V PAY card.
  • The credit facility is granted for an indefinite term (or until revoked).
  • You only pay interest on what you actually draw down.
  • Interest charges may be tax-deductible, depending on your personal situation(2).

How do I access a credit line in Luxembourg?

Just like a home loan or personal loan, the OptiLine solution requires a creditworthiness check by the bank, in order to protect your interests.

Depending on your personal situation and repayment capacity, collateral may be requested.

Bon à savoir

You can take out Protect insurance if you choose OptiLine. Protect insurance guarantees the repayment of your credit line in the event of your death.

How much is granted under a line of credit? 

The amount granted under a line of credit is decided on a case-by-case basis. It is tailored to your needs and borrowing capacity. 

However, it cannot exceed EUR 12,500. 

Frequently asked questions

  • icone faq question
    What’s the difference between the OptiLine credit facility and a personal loan or the “Réserve Privilège” cash reserve?

    A personal loan is intended for one-time use and comes with a fixed repayment schedule, while the OptiLine credit line is revolving, with no fixed term. Réserve Privilège lets you finance impulse purchases and offers a higher cap of EUR 37,500.

  • icone faq question
    When and how can I terminate my OptiLine contract?

    You can terminate your contract at any time – of course, any interest accrued since the last statement will still have to be paid. The bank may also decide to terminate or suspend the loan without notice if your direct debit is terminated or if the income you pay into the bank falls substantially.

  • icone faq question
    What is the maximum repayment period for a line of credit?

    You are free to draw down on the credit facility as you please, within the limits set out in the contract. Make repayments when you want – there’s no fixed repayment plan.

(1) Offer subject to terms and conditions and approval of your application by the bank.
(2)Tax deductibility varies based on the personal situation of each client and is subject to change.