Check Your Credit Before Picking Up Personal Loan
If you have some time before you make your request, it will certainly be for your good. Knowing what your score and credit score is a very important factor. Also, having knowledge of how your name is listed in your report as a debtor or defaulter, before you file an application with the lender, you can avoid many frustrations.
As incredible as it may seem, cash loans are not just for personal purposes, you know that most Startups started, are created from money obtained through personal loan . In this way, if you want to start a small business, personal loan is a great alternative as well as start with your own money saved.
It is worth remembering that the vast majority of lenders put a lot of importance in the analysis of credit history and credit score. So if everything is okay with your name, it will be much easier to get the money you need.
However, if you have restrictions on the name (with dirty name), this will not be an obstacle to obtaining credit in some institutions Brazilians.
How does personal loan work?
How it works..? Come on! To get a personal loan today , it’s not the way it used to be before. It’s all online now. Access can be through the cell phone, tablet, desktop and 100% online applications over the Internet.
Some time ago, I say this to you who are older, will remember that the most practical would be having to go to a store on the streets, the bank agency or credit companies in offices, wasted too much time to make a request and still need to sign a stack of papers.
After that whole job, he had to wait a few days to get the money into the bank account – not to mention the interest.
More recently, a crop of new online lenders have emerged, are known with Fintechs. These creditors include in their approval analyzes, nontraditional factors, use artificial intelligence, check all their credit relationships, and check personal accounts on social media, etc.
All this to decide whether to lend money to you and what the interest rate will charge.
Credit and lending platforms
In many online websites and personal credit platforms, it is much easier to get a personal loan online now , much more than in credit unions and traditional private banks. However, retail banks still dominated the personal loan scenario.
Luckily for us the appearance of these platforms and online sites has benefited the consumption, increasing competition.
The personal loan can vary in amount released and duration of the contract, terms, terms and also conditions. Some terms can be hired for years, while others (overdraft loans) have to replenish the money in just a few days after using it – usually up to 10 days without interest.
If you take out a loan with loan sharks, the window for return is 30 days, plus interest of up to 25%.
Other forms of loan
At Grana Smart let’s talk about all forms of personal loans, we can include:
- Loan in the carnet
- Loan in the ticket or credit
- Loan with pre-dated check
- Loan with card
- Family Loan
- Loan with pawn
- Loan between people
- Loan with loan sharks
- Loan and social financing
In all these cases there is always the interest rate, except for the loan between family members that depends on what is agreed, some have low interest rates, others have average interest rates and some lines apply very high interest rates for both short and long term.
A good ” online loan calculator ” can tell you what the cost of an operation is before you even apply. The general rule: Do not borrow more than you can afford.
Personal Loan Simulator
Total Requested (Amount in R $)
Interest Rate (per month)
Why apply for a personal loan?
A personal loan can help you achieve various financial goals and of course, must be hired responsibly, know exactly to what purpose the resources taken will be used. Overall a loan is taken to:
Pay off credit card debt
Refinancing your credit cards is not always a good idea, but with a personal loan it is possible to clear all the bills of one or more cards to be able to get rid of the more expensive interest-bearing debt.
Consolidate more expensive debts
Consolidating is a way to simplify your life with a single monthly payment. When getting a loan with fixed rate, cheaper, with reasonable term like “paycheck” and “secured loan”, there is a better chance of rest and quiet sleep.
Reform or build
There comes a time when you need to restart your project to improve the look of your house or apartment, with vacation money, installment or thirteenth, sometimes you can not do everything you want, then a personal loan is an excellent line credit for these purposes and solve the problem of ill-finished and ugly house.
Cover unexpected expenses and costs
We are always in need of money, there are times we need more, especially to pay unexpected and urgent expenses, make a big purchase the installment or use to adjust health and aesthetics. It does not matter if you can and the conditions are favorable – hire a fast personal loan – there are no problems.
Other scenarios that may also lead to the choice of a personal loan as a facilitator, see the examples listed below:
- Start an out-of-country study project
- Financing a small business or company
- Spend a vacation resting
- Make payment for medical and / or surgical procedures
- Financing the wedding party, graduation or other events
- Buy electronics, home appliance or recent smartphone, etc.
Where and how to get personal loan?
You may be wondering about how to get an easy and cheap personal loan, and incredible as it may seem, this is simpler and faster than you might think.
To make a loan, you just need to look for a bank / banker who, after approving your application through credit analysis, will provide you with money financing – simple as well!
There are many means, but the common thing is you make your requests in 4 types of entities, they are:
- Bank correspondents
- Online sites
Private banks or retail banks are financial institutions for the purpose of granting various types of financial products and services. Banks manage current accounts, help with investments, approve and release loans, lend money overdrafts, provide lines of credit and cards, among other things.
Still talking about banks, they usually approve personal loans of all kinds, arrangements and for numerous interest purposes. The interest rates are bank, somewhat lower than those applied in financial. To minimize credit risks, there is always a greater bureaucracy for the granting of personal loans in banks.
Financial institutions are privately owned credit institutions, with the exclusive purpose of offering loans , cards, virtual accounts and personal loans for a variety of purposes. Generally, interest rates are above average and higher than those charged by banks because of the higher credit risk.
To get a personal loan in finance, it is faster and often has little or no red tape.
Credit unions in Brazil are not taken very seriously – I do not know why. Although they are not widely publicized in the media, co-operatives are one of the quickest alternatives for borrowing money at low interest rates.
They offer a variety of banking services such as savings accounts, checking accounts, personal loans and payroll loans for your members and members.
Bank Correspondents and Fintechs
What is a ” banking correspondent “? A correspondent is a company that acts as an intermediary to provide financial services on behalf of a bank or financial institution.
In Brazil the Fintechs are the best intermediaries between the creditors and the consumer of final credit. They carry out the initial transactions and gather data and documents to complete the applications, especially in online loans .
Collective funding sites
Crowdfunding is a type of funding based on donations and other different causes. Collective funding came through the model where funders (ordinary people or investors) donate through a collaborative process, based on goals, exchange of products, benefits, participations or rewards.
Personal loan interest rate
Interest rates really are what most influence the total value of the loan, and what else has attracted consumers of credit for certain types of loans. See the examples below:
The interest of the personal loan can be fixed or flexible interest, depending on which bank or financial entity you will choose, the amount of credit and the modality that you will borrow. Below you have a preview of interest rates here in Brazil.
- Simple interest
- Compound interest
- Compensatory interest
- Related searches
In this article we talk all about interest rates and which are more practiced in the financial market. Interest rates are driven to increase or decrease by numerous marketing factors. Internal policies of creditors also affect interest rates up or down in certain types of credit operations.
Average interest rates
Loan with Property Guarantee
Public Payroll Loan
INSURED LOAN INSS
Vehicle Warranty Loan
Private Payroll Loan
Parcel Credit Card
Revolving Credit Card
In some institutions and due to the increasingly intelligent analyzes, depending on the type of customer and socio-economic profile, the interest rate can be low or higher, ie, the interest is personalized observing both the customer’s history, internal data and the applicant.
How can I make loans without bureaucracy?
How to make a fast and secure loan?
Which bank charges the lowest interest rate on loans?
The good news is that through our free personal loan calculators and comparators on our website, you know beforehand which bank and financial has lower interest offers for each type of loan with a few simple clicks on the screen of the cell phone or the mouse the computer.
We put at your disposal the best lenders with interest rates with more advantages to your pocket!
Loan on online websites, platforms, shops and bank agencies
Getting a loan does not have to be a drama. From the moment you think, ” I need a loan, ” you should already prepare to know where and how you will get the best loan with the lowest interest rate available for the chosen mode.
Even for people with bad credit, that is, has the name with restrictions, can get loan to negatives through online lenders and websites on the internet. Most importantly, if you can avoid hiring with loan sharks, it will be much better for your pocket and health.
Worth mentioning .. For any ordinary citizen to qualify for a personal loan at a bank, financial or traditional lender, you will need to have all the requirements like compatible income and clean name.
Secure, reliable and online personal loan
The speed as it is processed today’s credit operations are impressive, this is one of the advantages of online personal loan. In fact, you no longer need to schedule, leave your home, and move to an agency to find out your chances of being approved and having eligibility for a loan.
Everything is remotely accessible through internet and online loan sites.
The good thing is that with a few clicks, you have access to the various information about the creditors and the credits available. If you have access to the Internet – Wifi, 3G, 4G, 5G or HotSpot – plus a cell phone, smartphone, tablet or PC, you can make several comparisons and simulation online to know exactly how to calculate the value of your order in minutes.
All free! Without commitment. The simulation lists proposals from the banks that best fit your search profile to make your personal loan fast, secure and reliable. After comparing offers according to interest rates, check the Total Effective Cost (CET) to decide if the proposal is valid for hire.
Surely you will be able to find a personal loan here at “Grana Smart” with really advantageous interest rates without having to provide any personal information to us.
The Benefits of an Unproven Personal Loan
As its name implies, unproven personal loan is granted to those who can not provide proof of income. Although you find in the market offers for granting in some institutions, this type of loan is well-publicized in financial, credit associations and professional lenders (moneylenders).
In general the main borrowers of this modality are liberal and autonomous professionals.
Here are some types of loans with this requirement:
- Loan with pawn
- Loan with guarantor or guarantor
- Personal Loan Prepaid Check
- Personal Microcredit
- Loan with credit card
- Crediários in department stores
- Loan in moneylender
All of these are examples of personal loans without proof of income that are easier to obtain today.
Advantages of Personal Loan
- Applying for a personal loan is very easy, fast, has little or no red tape
- With a personal loan anyone can eliminate more expensive debts such as credit cards
- Many personal loan modalities are cheaper than credit with overdraft or pre-dated check
- Those who have a history and score (good to excellent) have no difficulty in getting the more than 10 types of personal loans available
- The credit query to Serasa and SPC can be broken into paycheck and credit to negatives when borrowing
- There are dozens of lending companies, financial sites and 100% online platforms to apply for
- The personal loan is pre-approved in less than 5 minutes and the money released on 12/24/36 or 72 hours maximum is a bank account
Disadvantages of Personal Loan
- In some modality, personal loan interest rates can be high and predatory to the consumer
- The terms and deadlines for repayment of the parcels in general are short in up to 12 times, with exceptions of 24/36 and 60 times
- Having easy access to the personal loan in an uncontrolled way can result in indebtedness without proper financial planning
How Do I Compare Personal Loans?
If you have decided that you need a personal loan, your next step is to see which type of loan would be best for you to take at a reliable lender. This requires deciding which mode to choose. In general, any request will require a credit check and consultation at SPC / Serasa, which would make application approval less likely.
However, there are companies that do not consult or do the history check, so you will need to carefully compare the lines of loans before you apply for a loan that helps you borrow with no bureaucracy.
To make sure you have the best possible chance of being accepted and reduce the risk of lowering your chances, go here. See below which modality is closest to your reality and financial condition.
- Payroll loan
- Online Personal Loan
- Negative Loan
- Personal loan with guarantee
- Collective financing – crowdfunding
- Car Financing – Auto Credit
- Home Financing – Real Estate
- Loans to freelancers
Personal Loan Considerations
The personal loan market is growing and evolving gradually and rapidly – this is good. It means that anyone who wants to get a personal loan today has many more options. However, despite the ease, using part of the income with debt debts can be a burden for many, be careful!
Tip: Always make a comparison between 3 or 5 lenders to find one that is really worth it. Today, on the web, we find several advertisements titled ” Best Online Personal Loan in Brazil “, “Best Company for Your Loan”, it is obvious that there are low interest loans and loans with punitive interest rates that take the borrower to the famous spiral of debt.