When it comes to borrowing , besides myths, there is a lot of information that people are unaware of. We have separated here seven information that can be very relevant if you need credit. Check out!
7 Loan Information You Need To Know
If you are in need of a loan, take it easy. First it is important to understand how this universe works and then find the best solution for you.
1. There are different types
Not everyone knows, but credit and lending mean basically the same thing, and there are several ways to borrow money. In the market there are personal loans, payroll loans, financing, secured loans, overdraft, revolving credit card, etc.
Before choosing what type of loan you need, try to understand what each loan is for and what are the fees involved, as well as advantages and disadvantages.
2. You should look at CET
When you start to search for a loan it is very common for people to be aware of the interest rate, but many end up forgetting the CET, which is really what really matters.
If you only compare the interest rate between the institutions, you will no longer compare other costs that may be added by the companies. That way, you may find that borrowing in one place comes out cheaper, while in fact the other has more advantages.
3. No advance deposit charge
Charging advance deposit for credit release is illegal. If when applying for a loan an institution requires you to deposit, better get out of it as it is fraud. We explain how to know if a loan company is reliable on our blog.
4. Not all require warranty
There is secured loan and there are loans that do not require collateral. You need to evaluate which option is best for you.
5. Not Every Personal Loan Is Payable
As with secured loans, there are companies that offer payroll-deductible loans and there are those that offer non-payroll-deductible loans, such as Monico.
6. Pureline Bank presents average bank rate
You may not know it yet, but on the Pureline Bank website you can check the average interest rates practiced by banks for each type of credit operation. This can help you start the comparison.
7. Can you do it online
You do not have to leave home to apply for a loan. Applying for credit online has been a reality in Brazil for a few years now and you can do it easily and quickly, in complete safety.