Have you ever heard of a social loan? TopCompare.be tells you everything you need to know about the credit itself, the conditions and the restrictions. Find out quickly whether or not you are eligible for the loan!

What is a social loan?

A social loan makes it possible for people with a limited income to take out a loan. These people often have difficulties in taking out a normal loan. Thanks to the social loan, modest households can buy, build or renovate a house. When taking out the loan, the applicant can enjoy more advantageous interest rates and conditions.

Limitations of a social loan

A social loan has the advantage that it offers a credit solution to people with limited income; so that they also have the opportunity to invest in a house, build a house or renovate it at attractive conditions and a low interest rate.

However, there are some restrictions on the loan. First, it is not possible to take out a loan for any type of home. For example,  holiday homes or offices are not eligible. You are also limited in the amount that you can borrow.

In addition, you must be able to justify the necessity of the renovation work if you apply for a loan to be able to renovate. The lender will then decide what amount you can borrow. You must also meet certain criteria, such as a minimum income or the fact that you already have loans. For Flanders, for example, the home must be located in the Flemish Region.

Finally, it is important to note that the interest rates for the social loan are updated every 5 years. Social loan providers often have a limited budget, so there is a good chance that the total amount will be fixed at the end of the year. There are also many administrative formalities that you must complete before you can be granted a loan.

Read our article: Is borrowing money from your loved ones a good idea?

A social loan is a tool for people with a limited income to get a loan. However, there are restrictions and you must meet some requirements. You can also not use the loan if you want to renovate your bathroom or buy a new kitchen. You can only use the credit for the purchase, maintenance or work on a home or apartment.

On the other hand, you can also consider a loan that is specifically intended for renovation work. Do not hesitate to use our platform to compare all renovation loans.


First think carefully about what you need to find out which loan suits you best. If you have a limited income and need a loan, you can choose to apply for a social loan if you qualify. Be sure to check all the conditions with the lender. Do you think that a normal renovation loan will better meet your needs? Then compare all renovation loans to find the credit that suits you perfectly.

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