French Consumer Code
In forceThe minimum repayment of the capital borrowed at each instalment provided for in article L. 312-65 corresponds to the following formula:
R = α x K
In this formula:
R denotes the amount of the minimum capital repayment;
K denotes the amount of capital outstanding after the last use of the credit facility;
α denotes the minimum repayment percentage, which is calculated as follows:
1° For revolving credit where the credit agreement provides for constant repayments, the minimum repayment percentage is calculated using the following formula:
You can view the image in the facsimile of
JO n º 0151 du 30/06/2016, texte n º 1
https://www.legifrance.gouv.fr/jo_pdf.do?id=JORFTEXT000032797752
In this formula:
r refers to the annual percentage rate of charge, to which is added, where the credit agreement includes optional credit repayment guarantee insurance taken out by the borrower, the rate corresponding to the annual cost of this insurance in relation to the outstanding capital;
T refers to the total repayment period of the credit, set as follows:
a) No more than 36 months for revolving loans for which the total amount is less than or equal to 3,000 euros;
b) No more than 60 months for revolving loans for which the total amount is greater than
3,000 euros;
2° For revolving loans for which the credit agreement provides for variable instalments according to different repayment schedules set out in the credit agreement, the minimum repayment percentage is :
a) 1% for revolving loans for which the total amount is less than or equal to €3,000;
b) 0.5% for revolving loans for which the total amount is greater than €3,000.
For these loans, the repayment schedule set out in the credit agreement may under no circumstances result in the repayment period for the amount of credit used exceeding :
a) 36 months for revolving loans with a total amount less than or equal to €3,000;
b) 60 months for revolving loans with a total amount greater than €3,000.
Where the credit agreement includes optional insurance taken out by the borrower to guarantee repayment of the credit, payment of the insurance premiums may under no circumstances lead to the repayment periods established under the conditions set out in the previous two paragraphs being exceeded.
