5 Tips for Securing a Loan

Are you thinking of getting a loan but are still unsure if it is safe or not? If you open the internet, you will come across several websites offering credit quickly, easily and without red tape. And that’s not how it works.

There are many people who act in bad faith and thus the consumer instead of solving a problem, ends up generating a much larger one. So to avoid a headache and so that you can apply for a loan in a way that is fully collateral, it is worth taking a look at the tips we have selected.

Why do you want to make a loan

money loan

Do you really know why you want to make a loan? And what are you going to use? It turns out that many people find it easier to borrow money from the bank than to try to reorganize their finances.

But suppose you have done all your math and come to the conclusion that this is the solution, so how do you surround yourself with all security?

5 Tips for Securing a Loan

Here are 5 tips for you looking to make a safer loan:

1. Pre-loan planning

You know you will have to pay monthly installments. Therefore, you must do some planning. listing all your expenses. And did you know that when many people put it all down and start adopting new financial habits, they realize they won’t even need the loan?

2. The security of payroll loans

Payroll-deductible loans are those offered to pensioners, retirees, civil servants and the military, with a lower interest rate.

But some companies also make payroll loans available to their employees. A tip is to ask your bank if you have this option.

Then the amount of the installment is directly deducted from the payroll or INSS benefit. Remember that the amount of the installment cannot exceed 30% of your monthly income.

3. Personal Loan

If you are not a salaried employee and do not fit to apply for payroll loans, personal loan is an alternative. Ideally, do some research and compare rates charged by banks.

But to be able to hire, you must be a bank account holder. The manager will do a credit analysis and note your relationship with the bank in order to grant or not the loan.

4. Find out about Total Effective Cost – CET

What is CET? Along with interest rates, there are also taxes, insurance and the opening rate. And that cost varies from bank to bank. Therefore, before getting the loan, try to find out about the CET.

5. Make simulations

Most financial institutions provide simulations, where you enter the amount you want and the number of installments.

This way, you have a sense of what the value of the installation will be and whether or not it fits your budget. Remember that the higher the number of installments, the lower the interest.

Online loan is safe

The others have said, on the internet there are many people who act in bad faith. And you can lose a lot of money. But many banks make the loan available over the internet. And in that case it is 100% safe as it is through your bank and on the official website ad institution. And what are the advantages?

  • No need to report loan usage
  • Pre-Approved Limit
  • Quickly released credit to account
  • Without bureaucracy
  • You can order via internet banking, mobile or ATM

So if you are a bank account holder, just check your statement for a pre-approved credit option. And if not, talk to your manager to see the possibility.

In fact, regardless of the loan you make, either personal or payroll, you are not required to report its use.

What are the care of internet loans?

personal loan

You need to be very careful about internet offers, especially those that offer credit to negatives. And be aware that offering payroll loans, especially for withdrawals, is often a scam.

Be very careful and never send money or carry a prepaid card, and of course not pass any personal or bank details.The problem is that these people in bad faith take advantage of people’s fragile situation and they end up believing it. So, once again: Just borrow from the internet on your bank’s official website.

Try to see all options, compare the fees charged and the benefits offered. But remember: Before you hire one, have some planning in hand and make sure that the value of the installation won’t weigh on your budget. And that this portion does not exceed 30% of your income. Pay the installments on time. This way you avoid being negated. And the last thing: use the loan for something really priority, such as paying for your studies, renovating your home or even taking a trip. Think hard and try to rearrange your finances.