There are numerous reasons that can end up causing a person to run out of money, and need a loan. From emergencies, unforeseen events, unemployment, impulse purchases and so on. And really, there are different types of loans currently available in the market.
It’s very common for people to end up wondering which one really fits their profile best. Get to know now the types of loans that exist and which one best fits your profile.
Most common types of loans in the market
Among the most common types of loans, one of them is the personal loan. Just apply at your own bank branch, or even at some financial institution.
Through a credit analysis, you will be able to borrow your money very quickly. Its main advantages are in its speed, and its contraction occurs in some cases, even less than 24 hours.
This type of credit is available to anyone, as long as they have no restrictions on their behalf.
Another very common type of loan is the payroll loan. What is private payroll loan? Also called payroll deductible loan. And it bears this name because it is deducted directly from your salary, pension or retirement.
The installment has a limit of up to 30% of the payment amount, even if he is a pensioner, worker or retired.
Its main advantages are certainly much lower interest rates learn more, because banks and lenders take into account that they will actually have to repay the installments, through the salary or even payment of the applicant’s benefit.
It is not available to everyone because the company that the applicant works for must have an agreement with the bank or financial institution, or be a pensioner or retired from the INSS.
Another caution is also that the payment of the installments is automatically deducted from the salary or benefit, that is, if an emergency occurs, it will not be possible not to pay the installment.
Secured loans, how do they work?
Other types of loans that are widely used are loans that use some as collateral. And they are:
– Real Estate Refinancing
For this type of loan, you will refinance your property. However, it is only available as long as the property is already settled and in the name of the applicant. The advantage is lower interest rates than conventional ones.
– Vehicle Refinancing
Here you also refinance your car, as long as it is already settled and also in the name of the applicant.
For both cases, extreme caution is required before applying for this type of loan. For if you fail to pay your installments, you may lose your good. You need to think carefully before applying for a secured loan.
How do I know which loan is really the best?
Certainly, if you are an employee of a private company, or a pensioner and INSS beneficiary, payroll deductible credit is the best choice for you.
Here , you find the best interest on the market through transparent contracts, with no surprises after hiring your payroll loan.