What are personal loans and how do they work?
Well, let’s start by saying some information that many people are not aware of, is that personal loans can also be called personal credits.
They are basically credits that are offered by various financial institutions, in addition to being easily accessible.
They are one of the best options, which are available in the market, for those people who need money quickly.
One piece of information that is extremely important for you to be aware of is that the person applying for credit undergoes a kind of credit analysis.
This credit analysis is carried out in databases, such as Boa Vista, and it is there where certain factors are checked, such as: your payment behavior, if you have any type of overdue debt , among many others.
If your request is approved, the money will be credited to your checking account as soon as possible.
Because it is extremely easy, when carrying out the entire process, it has an interest rate, which is slightly higher than that of other types of loans.
When to apply for your personal loan?
Well, this is one of the main doubts about this subject, for the simple fact that many people do not know what the money can be used for.
If you are one of the people who have this doubt, see below when is the right time for you to apply for your personal loan:
Well, usually people who apply for this loan need that money to be able to pay some debt that has very high interest rates, such as: overdraft or credit card revolving.
People also use money when they need money for some kind of emergency, both in relation to health and in relation to the care of their assets.
One thing that many are not aware of is that even entrepreneurs use that money, so they can start working in this area.
Therefore, it is possible to conclude that it is not necessary to have a certain time or a good reason to apply for your personal loan.
Who can take out personal loans?
Well, you should know that not all people are authorized to hire this highly sought after service.
You can take out the loans, who meet the following criteria:
- Be of legal age (+18)
- You are a resident of Brazil
- Who has valid personal documents.
But, this can depend a lot on which financial institution you will use, as some of them allow you to contract personal loans, even if you present a dirty CPF.
But, these have a higher interest rate, so we recommend that you try to make this contract with a financial institution that is reliable and that presents its interest rates not too high.
For more information, visit the official website of the institution you are applying for a personal loan. p>
How to get your personal loan online?
One of the best ways to get a personal loan is online.
That’s because it is the most used thing in the world, not only for communication, but also for services.
Therefore, see below the step by step, so that you can get your personal loan over the internet:
- First step: carry out the personal loan simulation.
- Second step: Evaluate which loans have the lowest CET (or also called: Total Effective Cost);
- Third step: choose the payment method (that is, the number of installments);
- Fourth step: send the documents requested by the chosen financial institution;
- Fifth step: wait until the analysis is completed;
- Sixth step: verify your bank account;
After that, it is very likely that the money is already in your bank account and thus, it can be used for any and all activities, whether economic, that will help your health, so that your assets are preserved, among many other options.
What are the advantages of personal loans?
You must be wondering now, what are the advantages that personal loans have, right?
Well, this type of loan has many advantages.
So, here are the best advantages that personal loans have:
- Installments: the installment of this type of loan is very flexible, as it can be done in up to 60 installments (this depends on the customer’s relationship with the financial institution);
- Convenience: you have the option to choose whether you want to make the payment in one go or if you prefer to make the payment in installments.
- Variety: The program offers four credit options, which you can choose which one fits your needs perfectly.
- Flexibility: you don’t need to leave the comfort of your home to carry out this contract, as it can be done online.
- Fees: this loan presents its interest rates, in very low values.
- Time: this type of loan does not require you to take a long time to complete the contract.
- Comparison: without having to leave your home, you can carry out the comparison in relation to several financial institutions, so that you can know if yours is a good choice.