The demand for individual loan has increased more and more. However, many people do not know what the ideal option is and get lost amid very high interest rates and deadlines that are not appropriate for their budget.
In addition, there are fraudulent companies that levy illegal fees on the loan, such as early deposit, causing the consumer to be harmed.
Therefore, it is very important to carry out a large research on the legality of financial institutions, in addition to knowing the main types of loans for existing individuals to opt for the best option.
What are the main types of loans for individuals?
There are several types of credit for individuals.
There are several types of loan for individuals and the requester needs to know them before hiring them in order to make the best choice according to your profile.
Regardless of the type chosen, the applicant must always be aware of all the conditions and fees, and be indicated that all values are simulated before signing the contract.
The loan for individuals that is better known and carried out by the Brazilian population is the personal loan. This can be requested from financial institutions and several banks after a credit analysis. Releasing the intended value is usually quick and contracting happens without much bureaucracy involved.
Another well-known and contracted type is the payroll loan. This is nothing more than a credit that will be paid indirectly, since the value of the installments is automatically debited from the applicant’s payroll.
With this, only those who have a formal contract, receive a pension or are retired can hire him or her. One great advantage of this loan is the lower interest rates.
The revolving loan is a loan granted by the bank through the bank. It works as follows: the consumer bought $ 500 with his credit card, but only managed to pay $ 100. The remaining amount will be paid to the establishments in question by the bank that charges the loan on the subsequent bills of the consumer plus high interest. However, this form of credit is now limited to only one month. After 30 days the revolving credit needs to be changed to another form of credit.
Another type of loan for individuals is the overdraft credit. One of its advantages is the lack of bureaucracy, since the amount is already pre-approved in the checking account of the applicant who can use it at any time. Its biggest disadvantage is the high interest rate combined with the ease of using it at any time without warning.
The pawn loan is granted when the applicant leaves a jewel, such as a necklace or a watch, as a guarantee of payment of the amount borrowed by the financial institution. This type of loan does not have credit analysis, which can be advantageous for the applicant.
What is credit analysis and what is its importance?
The credit analysis studies the profile of the applicant.
Personal credit analysis is nothing more than studying the profile of the loan seeker. It is performed when the consumer enters a credit application with a financial institution.
It analyzes all personal documents, name denial, income impairment and credit score. With this, the institution is able to evaluate the potential of payment or default of the applicant, in order to protect.
After this analysis, the applicant will be advised of the disapproval or approval of his / her credit application. If it has been approved, it will need to accept all terms and conditions of the financial institution.
It is imperative that the contract be read carefully, so that all rates and payment deadlines are fully known to the consumer.
What are the care before hiring a loan?
You have to be very careful when taking out a loan.
You need to take some care when hiring a loan. The first thing the seeker needs to do is research in order not to fall into any kind of scam. There are fraudulent companies that deceive and harm the consumer.
It is therefore of paramount importance that the applicant be wary of very easy offers with terms and interest rates that are not in line with the existing majority. In addition, it is essential that the financial institution be legalized by the Central Bank.
Another tip is to be wary of companies that require abusive or illegal fees, such as early deposit.
It is also essential that the CNPJ of the company be confirmed with the Central Bank. For some fraudulent companies usually use fake CNPJs or existing companies, deceiving the consumer.
A reliable financial institution makes its deposits through legal accounts. So, the requester needs to confirm that the deposit in your account will come from a physical or legal account.
Currently, there is a new modality of credit companies that are FinTechs. These act as financial correspondents for banks, but with less bureaucracy, fast, agile and often with even better interest rates.
Bank correspondents are companies contracted by financial institutions authorized by the Central Bank to provide customer service services to these institutions.
FinTechs draw a profile of the borrower at the time of the simulation of values and interest rates and set up an exclusive loan plan for your profile.
In addition, they usually release the loan amount in up to one or two business days, which is a great advantage for those who need the money soon.
How do Rebel loans work?
Rebel is a FinTech offering online personal credit to individuals. Rebel loans can be a great option for you looking for a fast, convenient and fair price process. Rebel is proud to offer quality care with a 100% online and extremely safe process.
Did you already know how the personal loan worked in most financial institutions? Do you have any questions or would you like to know more about it? Leave your comment below and continue to follow our publications.