A loan is a form of personal credit offered by many lenders and traditional financial institutions and online credit platforms. Depending on the type of credit requested and the collateral offered they come with lower interest rates and others with higher maximum values than the overdraft or credit card or loan to negative.
If you can wait a few days to receive the requested amount, a secured home or vehicle loan can be an affordable option to borrow the money you need. But it is important to know that in this type of credit, by giving the guarantee and not paying the installments on time, the property can be taken and auctioned.
One more detail, the eligibility criteria for secured loans in general are a bit more stringent by having to give the good as guarantor of the operation, however, some banks do not require the contractor to be free of restrictions. This transaction takes a delay of 5 to 30 days to complete and clear the money.
Check out the online loan options
You can avail an online loan company for a variety of different loan products including:
- Short term loans online . Some lenders offer same day loans with instant approval and online. The repayment terms vary depending on the lender and the modality, but can be as short as 30 days and at most 12 months with interest rates above 10%.
- Loans guaranteed online . If you own a property, land, car, you can use it to get a loan online. You continue to use the car but have to pay the installment loan amount every month. As the loan is secured, you will generally pay a lower interest rate, around 1.17% to 3%.
- Peer to peer loans online . You can sign up online to get “people-to-people” loan, or peer-to-peer, in Brazil we already have some good platforms to get credit with excellent rates, between 2% and 8% depending on the profile of the taken. Be sure to check the eligibility criteria to find out if you can qualify for a group loan.
Compare loan terms online?
You can start your search and compare your options in our comparison tables here. When trying to find the right loan, the following features can help reduce the search time:
✓ Interest rates and fees: This is one of the key features that you should look for when comparing loans online, especially if they are short term loans (up to 12 months). Do not forget to compare the CET.
✓ Ease of request and response time. How long does it take to apply and how quickly will you receive the response and your loan? If you need the money deposited into your account the same day or the next day, it is possible. How long the lender takes to release the funds for you.
✓ Applicant eligibility. Lenders have different criteria for contractor approval, and some are more flexible than others. Make sure you meet the eligibility criteria before applying your registration on websites, online loan companies or online lending platform.
Benefits and disadvantages of online loan?
- Compare a variety of options: There are many lenders that operate online, and all can be compared on loan comparison websites.
- Easy Applications: Once you find the online loan you want to apply for, you can complete and submit the application in a few minutes and you’re all set! It is not necessary to send faxes, everything is done digitally.
- Get the loan directly into your account: When you sign up for an online loan, the money is sent directly to your checking account. Some lenders also give you the option of getting your loan at the store as it is the home of the digital Crefisa.
- High rates: Do not expect low interest rates, with the exception of online payroll and secured credit, the rest have high interest rates. These short-term loan options usually end up costing double or triple the amount you borrowed.
- Unsecured lenders: There are predatory lenders who work to put you in a debt spiral. Ex: loan with online moneylender and private lenders. Be careful who you lend and always make sure they are operating legally.
- Short Repayment Deadlines: If you decide that an unsecured loan is the best option for you, make sure you have the ability to repay it on the due dates. A late or lost payment may end up costing you a sack of cash at additional charges.
What you need to borrow money online
When you find a business credit to apply, look for the “Request” button to submit your application online. You will need some of the following details in hand:
- Personal information: Your name, date of birth, CPF number and other contact information.
- Financial: Your income, employment details or government benefits.
- Banking: Details of your bank account and bank account number may be required. Just Online and MoneyMan apply without shame.
Online loan simulator
Total Requested (Amount in R $) Months Interest Rate (per month) Plot Value Amount
Alternatives and Online Loan Options
If you are worried about not qualifying in one of the online loan options or just want to find a way to get a cash without affecting your credit, there are other alternatives.
Think about getting an extra job, borrow it from a friend, or just ask for more time to pay off your debt if that is the case. On the page we have made a comparison of the 3 sites that make loan to negativado online. Online Loan Insurance Options and Simulator!