There are several ways to apply for personal credit. See the main ones below.
A payroll loan has an exciting feature. It usually has lower interest rates compared to other types of credit. This is because your installments are taken from the contractor’s payment. Due to its conditions, the payroll-deductible modality is one of the best alternatives for those who need money to buy a high-value good or service or cover an emergency.
This type of credit is suitable for four groups of people:
- InSS retirees and pensioners;
- Public workers;
- Employed persons who have an FGTS account balance;
- Employees of private companies who have signed a contract with financial institutions.
Therefore, you must fit into at least one of these categories to be eligible for a payroll loan.
The pledge of assets is a guarantee-based credit-granting feature. This means that objects such as cars, real estate, and jewelry can be offered. The financial institution will analyze such belongings with the assistance of a qualified person. Their values will be defined, and the loan with the pledge is released.
It is worth mentioning that this is a modality in which the asset can be taken from the credit applicant in default cases. Another factor that deserves to be clarified is that the valuation of the property can give a value below what it is worth.
In loans made with jewelry pledges, the credit can be released even with hostile credit protection agencies. As for cars and real estate, a search for restrictions will be required.
Although it is tempting – because of the meager monthly interest rates -, this type of loan should be taken with some care since the non-payment of installments, after 30 days of its maturity, can take the pledged assets to the auction. In addition, if the person sells the goods, the money will be used to pay the personal credit.
Despite the guarantee of the good, it is still necessary to prove income, to make it clear that the person will be able to bear the monthly costs. You must have good financial planning before applying for this type of loan to avoid taking risks. Check online loan lenders