Updated September 28, 2026 · BorrowCue Editorial Team
Plazo ES vs Sofkredit
Plazo ES vs Sofkredit: the differences
| Compare |  Plazo ES |  Sofkredit |
|---|---|---|
| APR | 24.19% | 10.74% to 18.06%Lower |
| Loan amount | €500 to €5,000 | €12,000 to €300,000Higher |
| Term | 48 months | 6 to 240 monthsHigher |
| Arrangement fee | 0 EUR | 6% to 9% of the loan; on a 15,000 EUR mortgage-guaranteed loan the commission is 900 EUR minimum and 1,350 EUR maximum, charged by the collaborating lender; Sofkredit's own service costs the user nothing |
| Credit check | Hard | Soft prequal |
| Funding time | Money available about 10 minutes after sign-up; approval answer arrives in minutes | 15-20 days after approval; same day as the notary signing, about one week if documentation is sent quickly |
| Representative example | Línea de crédito revolving 1.500 EUR, TIN fijo 21,86%, TAE 24,19%, 48 monthly instalments of 47,15 EUR, total due 2.263,20 EUR | a 15,000 EUR loan at 9% interest over 5 years returns a total of 21,750 EUR |
| Lender type | Direct lender | Broker |
| Eligibility | Over 18, DNI/NIE or European passport, resident in Spain, demonstrable income, good credit history | Natural or legal persons of legal age (+18) with Spanish nationality or residence, holder of a bank account; for mortgage-guaranteed loans a property must be owned, free of charges or with at least 70% of the mortgage repaid |
| Origination fee (%) | 0%Lower | 6% to 9% |
| Loan types | Personal, Credit line | Secured, Debt consolidation, Business |
| Credit needed | Good | Poor |
| Rate type | Fixed | Not confirmed |
| Free early repayment | No | Not confirmed |
Same on both: Use cases (Home improvement).
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Key differences
- Plazo ES scores higher overall: 8.9 vs 8.6.
- Sofkredit is licensed in 1 more country.
- Sofkredit is available in 2 more countries.
- APR is lower at Sofkredit: 10.74% to 18.06% vs 24.19%.
- Origination fee (%) is lower at Plazo ES: 0% vs 6% to 9%.
- Loan amount is higher at Sofkredit: €12,000 to €300,000 vs €500 to €5,000.
- Term is higher at Sofkredit: 6 to 240 months vs 48 months.
- Support channels: only Plazo ES offers Chat.
- Features: only Plazo ES offers Credit line.
- Loan types: only Plazo ES offers Personal, Credit line.
Our verdict on each
Plazo ES
Plazo ES suits Spanish residents with a good credit history who want a small personal loan or a revolving credit line funded within minutes. Its 24.19% annual cost is high next to cheaper lenders, so the total repaid over 48 instalments is the figure to weigh.
Sofkredit
Sofkredit suits Spanish borrowers who want property backed finance and can wait for a notary appointment. The headline cost is an arrangement fee of 6% to 9% of the loan, while Sofkredit's own service adds nothing beyond it.
Score breakdown
| Area | Plazo ES | Sofkredit |
|---|---|---|
| Cost | 8.7Higher24.19% annual cost sits well above cheaper lenders, and free early repayment is not offered. | 8.5 |
| Offer | 9.5HigherA personal loan and a credit line under personal and credit line, with funding within minutes of sign-up. | 9.3Ranges cover €12,000 to €300,000, 6 to 240 and 10.74% to 18.06%, with home equity and remortgage and home improvement on the same application. |
| Trust | 8.7Higher | 8.3 |
Ranges side by side
| Fact | Plazo ES | Sofkredit |
|---|---|---|
| Loan amount | €500 to €5,000 | €12,000 to €300,000 |
Positions in our rankings
| Ranking | Plazo ES | Sofkredit |
|---|---|---|
| Home improvement loans | 10 of 562 | 2 of 562 |
Where these facts come from
Plazo ES
- plazo.es: 21 facts, checked September 26, 2026
Sofkredit
- sofkredit.com: 17 facts, checked September 26, 2026
Every fact side by side
| Fact | Plazo ES | Sofkredit |
|---|---|---|
| Pricing model | Fixed rate | Not confirmed |
| Features | Credit line, Same day fundingCovers more | Same day funding |
| Legal entity | IDFinance Plazo, S.L.U. | Kova Finance, S.L. |
| Headquarters | Spain | Spain |
| Founded | 2021 | Not confirmed |
| Support channels | Email, Chat, Phone, Help centreCovers more | Email, Phone, Help centre |
Mortgages
| Fact | Plazo ES | Sofkredit |
|---|---|---|
| Initial rate | Not confirmed | 8% to 14% |
| APRC | Not confirmed | 10.74% to 18.06% |
| Fixed period | Not confirmed | 0.5 to 20 years |
| Maximum loan to value | Not confirmed | 30% |
| Product fee | Not confirmed | €900 to €1,350 |
| Purpose | Not confirmed | Home equity, Remortgage |
Where each stands against the rest
| Fact | Plazo ES | Sofkredit | Median |
|---|---|---|---|
| APR | 24.19%highest quarter | 10.74% to 18.06%above the median | 8.99% |
| Loan amount | €500 to €5,000lowest quarter | €12,000 to €300,000highest quarter | €40,000 |
| Term | 48 monthsbelow the median | 6 to 240 monthshighest quarter | 60 months |
| Origination fee (%) | 0%below the median | 6% to 9%highest quarter | 0.25% |
Median across 1005 listed lenders.
Pros and cons
Plazo ES
Pros
- The approval answer arrives in minutes and the money is available in your account shortly after you sign up, so a cost that cannot wait can be covered the same day.
- The origination fee is 0 EUR on the personal loan and the credit line, so the cost sits in the rate rather than in a setup charge.
- The rate is fixed, so an instalment does not rise when market rates move.
Cons
- The annual cost of 24.19% sits well above 12% for the median brand on the site, so the interest does most of the work in what you repay.
- Free early repayment is not offered, so clearing the balance ahead of schedule does not bring the cost down, while 81.2% of the brands compared do offer it.
- Applications run a hard credit check, so an outcome here can also weigh on other credit applications you make.
Sofkredit
Pros
- Sofkredit's own service costs nothing, so the only charge to weigh is the lender's arrangement fee of 6% to 9%.
- The loan range €12,000 to €300,000 and the term range 6 to 240 suit both renovation projects and debt consolidation.
- Eligibility leans towards weaker files, with the credit needed listed as poor, and the credit check is soft prequal.
Cons
- The arrangement fee of 6% to 9% is a large share of the loan, and the product fee on a small mortgage guaranteed loan runs €900 to €1,350.
- Maximum loan to value is 30%, well below the 90% across listed lenders, so equity of your own is required.
- Sofkredit is a broker, so the contract sits with the collaborating lender rather than the site you apply through.
Who each suits
Plazo ES
Who it suits
- Adults living in Spain with a DNI/NIE or a European passport, demonstrable income and a good credit history.
- Borrowers who want both a personal loan and a revolving credit line from the same firm, since the range covers personal and credit line.
- People who can carry a 24.19% annual cost and value money in the account within minutes of signing up.
Who should look elsewhere
- Readers chasing a lower annual cost, since Monzo Flex quotes 10% to 23% against 24.19%.
- Borrowers who plan to finish early, since free early repayment is not offered here while most of the site comparison does offer it.
- Anyone needing a sum above €500 to €5,000, where Cashspace at PHP 12 to PHP 36 is set in a different currency and market.
Sofkredit
Who it suits
- Spanish residents and nationals who own a property that is free of charges or has most of its mortgage repaid
- Borrowers consolidating several debts into one payment, since debt consolidation is among the secured, debt consolidation and business
- Homeowners funding renovation work, as home improvement is the main listed use case
Who should look elsewhere
- Anyone who needs money the same week without a notary appointment, against the stated funding time
- Borrowers who want to borrow more than a low share of their property's value, given the 30% cap
- Small lenders wanting a quick online application rather than the documentation and notary steps this route involves
Current offers
Plazo ES
Current offer
Bonus
Cashback on purchases with the Plazo card: Up to 15% cashback at favourite brands
Only when paying with the Plazo card; subject to meeting eligibility conditions and validity of the offers
Source, checked September 26, 2026
Country by country
| Country | Plazo ES | Sofkredit |
|---|---|---|
| France | No | Yes |
| Italy | No | Yes |
| Spain | Yes | Yes |
Questions about each
Plazo ES
What does borrowing from Plazo ES cost?+
Plazo ES charges an annual cost of 24.19% on a fixed basis, and the origination fee is 0 EUR, so there is no setup charge to add. The published representative example is a revolving credit line repaid in 48 monthly instalments, and the total due comes to noticeably more than the amount drawn. That gap is the real cost to weigh.
Is Plazo ES a regulated lender?+
Plazo ES is a direct lender listed with Banco de España under 6899, so a Spanish supervisor is responsible for how it conducts that business. A loan is a borrowing contract rather than a savings account, so what you owe comes from the published terms, and the register entry is the detail worth checking before you sign.
Sofkredit
What does Sofkredit charge to arrange a loan?+
The arrangement fee runs 6% to 9% of the loan and is charged by the collaborating lender. On a small mortgage guaranteed loan the commission falls within €900 to €1,350. Sofkredit's own service costs the borrower nothing beyond that lender charge.
How much can I borrow and for how long?+
Loan amounts run €12,000 to €300,000 and terms run 6 to 240, so the range is wide enough for a renovation or a debt consolidation. Terms and amounts are set by the collaborating lender rather than by the site you apply through.
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