Before any credit is granted, Sodefina S.A. (Sodefina) carries out a thorough assessment of your creditworthiness, based on the information you provide (income, expenses, employment situation) and, in accordance with applicable Portuguese law, consultation of the National Register of Household Credit Repayment Incidents (CRC) held by the Banco de Portugal.
The granting of credit is never automatic. It results from a discretionary decision by Sodefina S.A. after analysis of your file. In the event of refusal, you are informed electronically. If this refusal is based on information from the CRC, we inform you of this in accordance with applicable Portuguese law.
Before any subscription, you receive a Standardised European Consumer Credit Information (SECCI) sheet, a standardised document provided for by the European directive on consumer credit (2008/48/EC) and applicable Portuguese law. This sheet contains all the essential information about the proposed credit: amount, term, APR, monthly payments, total cost, withdrawal rights.
If your application is accepted, a credit offer is sent to you, accompanied by the SECCI sheet. You have a reasonable period to examine it before proceeding to sign, without any pressure being exerted to speed up your decision.
The credit agreement is formed by the electronic signature of the contract by the borrower and its acceptance by Sodefina S.A. The electronic signature used complies with the European eIDAS regulation on electronic identification and has the same legal value as a handwritten signature. A copy of your signed contract is immediately provided to you electronically and archived in your client area for a period of 10 years.
Sodefina offers consumer credit ranging from €3,000 to €75,000, repayable over a term of 12 to 180 months depending on the product taken out and the borrower's profile. The amounts and terms actually granted depend on the creditworthiness assessment of each application.
Setting up your credit file requires the provision of supporting documents: a valid form of identification, recent proof of address, proof of income (payslips, tax assessment notices) and bank account details.
After receiving a complete application, Sodefina undertakes to communicate an initial decision to you as soon as possible, generally within 24 to 48 business hours, subject to the completeness of the supporting documents provided.
After the contract is signed and, where applicable, upon expiry of any applicable regulatory period, the funds are released to the bank account you have designated, as soon as possible.
Interest is calculated on the basis of the borrowing rate, or nominal interest rate, applied to the outstanding capital. This rate may be fixed (unchanged throughout the term of the credit) or, for certain products such as revolving credit, variable within contractually defined limits.
The APR (Annual Percentage Rate of Charge) represents the total cost of the credit expressed as an annual percentage of the total credit amount. It additionally includes all mandatory costs related to obtaining the credit (arrangement fees, mandatory insurance where applicable), and is the reference indicator for comparing different credit offers. The APR of our consumer loans never exceeds the usury rate set quarterly by the Banco de Portugal.
Your credit agreement includes an amortisation schedule detailing, for each instalment, the breakdown between capital and interest, as well as the capital remaining due. This schedule can also be consulted at any time from your client area.
Repayment of your monthly instalments is made by SEPA direct debit from the bank account you have designated, on a fixed date agreed when your contract is signed. Under certain conditions, you may request a change to this direct debit date, in order to align it with your income. This request is made directly from your client area or with our customer service.
In accordance with Articles L.312-34 et seq. of applicable Portuguese law, you may repay your credit early, in full or in part, at any time and without having to justify your request. In the event of partial early repayment, this results, at your choice, in a reduction of the remaining term of the credit or a reduction in the amount of the remaining instalments, in accordance with the terms specified in your contract.
An early repayment indemnity (ERI) may be due in accordance with Decreto-Lei n.º 133/2009: if the repayment over a rolling 12-month period exceeds €10,000, the ERI is 1% of the amount repaid if the remaining term is more than one year, or 0.5% if the remaining term is one year or less; for a full early repayment, this indemnity is capped at the lower of 6 months' interest and 3% of the capital repaid. If the repayment over a rolling 12-month period is less than €10,000, no ERI is due.
To make an early repayment, contact our customer service providing the amount and desired date. You will receive an early repayment statement within 7 business days.
In the event of non-payment of an instalment on its due date, Sodefina sends you a reminder letter, then, in the absence of regularisation, a formal notice. Late payment penalties may be applied, at the legal rate increased by 5 points, within the limits set by applicable regulations. In the event of persistent payment default despite the formal notice, Sodefina may declare the acceleration of the debt, making the entire remaining capital, accrued interest and, where applicable, contractually provided-for penalties immediately due and payable.
Any confirmed repayment incident is reported to the credit incidents file (CRC) held by the Banco de Portugal, in accordance with our regulatory obligations, after prior notice to the client concerned. This may affect your access to credit in the future. We encourage you to contact us immediately in the event of financial difficulty, before the situation deteriorates.
Before any contentious procedure, Sodefina systematically favours seeking an amicable solution with clients experiencing repayment difficulties: debt restructuring, deferral of one or more instalments (where applicable, subject to contractually defined fees), or any other arrangement suited to the individual situation of the client. Requests for deferral must be sent to our customer service before the due date of the instalment concerned.
You have a period of 14 calendar days from the signing of your contract to exercise your right of withdrawal, without penalty and without having to justify your decision. This period can only be reduced at your express written request. In the event of withdrawal after use of the funds, you repay the capital used plus interest accrued at the borrowing rate, calculated between the date of release and the date of repayment.
In the event of a dispute not resolved by our customer service, you may refer the matter free of charge to the mediator appointed by Sodefina: Tânia Silva Coelho, Rua A Gazeta d'Oeiras, 2 – 1º C, Edifício Horizonte, 2780-171 Oeiras (www.livroreclamacoes.pt). Mediation is available throughout the duration of the contract and for 5 years following its end. Recourse to mediation does not deprive you of the right to refer the matter to the competent courts.
Borrower insurance, when taken out, may cover all or part of your instalments in the event of a covered claim (death, disability, incapacity for work, loss of employment depending on the option chosen), under the conditions and limits specified in the information notice provided before subscription.
Can I change the amount of my credit after signing? No, any material change requires a new contract or a formal amendment.
What happens if I change bank account? You must communicate your new bank details to us as soon as possible via your client area.
Can I have several Sodefina credits at the same time? This depends on your repayment capacity, assessed for each new application.
Does early repayment always incur fees? No, no indemnity is due if the repayment over a rolling 12-month period is less than €10,000.
For any question relating to the general conditions applicable to your credit, contact our customer service via our contact form, or consult our legal credit information page.
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Personal loan of 5,000 €
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