Elcl: what does it offer for individuals?

HomeBanksElcl: what does it offer for individuals?

Online banks are known for charging particularly attractive rates and making it significantly easier to manage one's account. Savings products and loans can be quite limited compared to those of physical banks. Is this also the case for eLCL?

About eLCL

eLCL is the service of online banking of LCL (Crédit Lyonnais). It was launched in 2005 and allows you to manage your account, subscribe to different products and make transactions anywhere and anytime. Each customer, whether an individual or a professional, can directly access his or her customer area. In addition, each customer has a personal advisor who can be reached by e-mail, webcam or telephone during weekdays.

In the opinion of many people, eLCL is not necessarily the best online bank. It is outranked by banks like Boursorama and Fortuneo. In addition, bank cards are not free whereas they are with many other online banks. Its relatively late entry into this market has not helped either. However, there is no no account maintenance fees as for almost all online banks.

What are the different products and services offered by eLCL?

  • Savings products: these products are particularly profitable with eLCL. In addition to the classic Livret A, LCL also offers a very special savings account, the Cherry booklet which allows you to invest as much money as you want. There is also a dedicated savings account for children.
  • Property loans: the bank has the advantage of offering both fixed and variable rate loans. Apart from that, the rate offered is not the most advantageous on the market. In addition, early repayment is accompanied by significant penalties.
  • Blue cards: eLCL has the advantage of offering a a wide range of products in this area. It can cater for those who are looking for the most basic offer as well as those who want a whole range of additional services. Although the rates are a little higher than elsewhere, they are not exaggerated.
  • Consumer credit: eLCL has taken care to sort the different credits by category. In addition, the loan can be taken out online. But here too, the rates are far from being the most advantageous on the market.
  • Services: here the services are similar to those offered by most online banks. In other words, it is possible to check your balance and order a cheque book with ease.
  • Life insurance: this product so dear to the French is more or less interesting at eLCL thanks to the variety of contracts offered. But once again, the rates are a bit high.
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