The month is not even over, but the salary…. Who never faced this? The bills, in turn, kept coming, the situation “squeezes” and making a loan to settle the debts, can be an alternative in the month.
You will see that there are different ways to lend money, so it is nice to know and choose the one that best suits your budget. After all, you know, loans on loans have become a snowball.
You should always be alert when looking for loans, as by the end of it, the amount borrowed can double.
What is loan?
As said, it is money borrowed by banks. Usually used to pay off debt or to realize a dream, such as buying a car, home, or setting up a business.
To get the loan, the client must go through a credit analysis, which evaluates if he can afford to take a new debt and be able to repay the installments.
In some cases, such as a loan for unsecured, unsecured or payroll loans, there may be no analysis, but in compensation the rates are higher.
Always keep an eye on CET or Total Effective Cost, this is the amount you will pay at the end of the loan, combining all fees and interest. If this is not clear to you when hiring, ask the manager.
How about knowing the loan types, you will see:
- Personal loan
- Unsecured personal loan
- Online loan
- Loan for negative
- Payroll loan
- Loan for those with family allowance
6 Ways To Make A Loan
1 Personal Loan
Personal credit or personal loan is for people who want to pay off debt, buy property, settle unforeseen circumstances, start businesses, in short, she decides where she wants to apply the money. This option has no need to prove its purpose.
The advantage of this “credit” is that hiring is quick and simple. In most cases the money is released within 24 hours.
Personal loan interest is usually the best, with the most affordable installments. But first, the client must go through a credit analysis, ie the money is only released if it is proven that the person can pay the debt.
In the largest Brazilian banks, monthly interest rates are usually around 6%. This rate changes from bank to bank, so it is very important to research long before, even at banks you have no relationship with.
2 Unsecured personal loan
For those with name restrictions, credit is not that easy and you don’t want to compromise your car or property, unsecured loan is a way to get the money.
But you need to be aware of this type of loan, since as it is unsecured, the interest rates are very high, which can make the Total Effective Cost double.
That is, an unsecured personal loan that cost $ 1,000 in the end becomes almost $ 2,000.
Therefore, our tip is: look for credit to pay only the value of your debts, clearing your name. This makes it easier for you to analyze credit and get a more affordable personal loan.
Online loan. This is one of the fastest ways to get money, as well as not having to leave home and can contract anywhere.
The benefit of taking out a loan over the internet is that you have access to various simulations, you can know the value of the fees and do not need collateral.
Is online loan safe?
This is a normal customer question as it is about money. Our guideline is to look for well-known and security-certified sites. It is very normal to see people out there taking advantage of the situation and offering “miracles”.
Always be wary of very low rates and easy hiring. Try not to go looking for credit and offer your data without knowing who is closing the proposal.
To borrow online, you must choose the site you want to borrow. On some sites you can simulate the amount you want to get, how much time you will pay and what installments. In other sites, it is only possible to know the proposal after registering.
When choosing the site, simply register with your personal information and checking account that you want to receive the borrowed money.
Always remember to see the total cost of the loan. The first simulation may not bring a real value of interest. This is because the interest rate depends on the analysis made for each person.
If the proposal is accepted, simply submit your personal documents. On most sites, this can be done by the camera phone or scanned as long as the document is readable.
4 Loan for negative
It has the “dirty name” and needs money to pay off debts and who knows how to recover the credit? Yes there is loan for negative. Usually with higher than normal rates, which can reach 20%.
We know, sometimes there are no alternatives to seeing the name clean again unless you get a loan. But be aware, the higher the number of installments, the higher the interest.
The high interest rate for this type of loan is justified by the bank or financial institution having no guarantee of payment, in addition to taking more risks of default.
These are two of several companies that lend money to negatives. Crefisa, for example, is directed to INSS civil servants, retirees or pensioners. But before hiring, once again, remember to consult interest rates and Total Effective Cost.
Other alternatives for those who can not get the personal loan, is the payroll or secured, as banks have greater security over the payment of fees.
5 Payroll Loan
This is considered an easier form of loan, since the installments are discounted in payroll, that is, directly from the payment of the worker. There is a consignable margin, ensuring that it does not compromise all income.
The payable margin is 35%, with 5% to be used to pay off credit card debt. If you have no card debt, your limit is 30%.
With credit card debt: salary x 0.35
No credit card debt: salary x 0.30
- If your salary is $ 1,000, then your margin is $ 300. (30%)
- If you have credit card debt: $ 350 total margin, where $ 50 is for card debt.
This amount will automatically be deducted from your salary until the loan ends. It must be requested from your company’s HR. It is also worth remembering that some banks do not release the payable margin ceiling.
6 Loan for those with family allowance
Do you receive Bolsa Familia or know a beneficiary and are unsure if you can get a loan? We take this doubt now!
Yes, it is possible to have a loan being beneficiary of Bolsa Familia. There is microcredit for low-income families, which can reach up to 15,000. Participants may also participate in the Unified Register of government social programs.
President Michel Temer’s announcement of 4 billion microcredit last month opens the door for Bolsa Família beneficiaries to start their own business and other activities.
Make a loan or credit card?
Have you ever considered using your credit card to pay off a debt or even got bogged down with the bill deadline and ended up getting into the revolving card?
Make no mistake, the card is a form of loan, by the limit that must be paid monthly.
Most of the time, it is recommended to use the loan to pay off debts or avoid the revolving loan as credit card rates can be close to 300% per year.
The credit card revolving is when you do not pay the invoice on time and the bank must provide a form of payment of the invoice, the revolving can be used for 30 days, after that is offered other forms for payment and one of them can be the loan.
In some cases it is also not possible to pay debts with the card as the limit may not cover the amount.
Borrowed Money – Conclusion
How about understanding the best known ways to make a loan? The tip is fundamental for everyone: always search banks and financials for interest rates and payment methods.
Evaluate the emergency of the loan and how much you can commit to paying monthly and above all: never trust any website or people who offer magical ways to get rid of debt.
Please note that Hercule Poirot does not make loans or review any orders. Our role is to help you get informed and look for the best product for your profile.
Then tell us below if you have already made a loan or have found lower rates. I wait for you in the next post, until then!