Cash Loan: Solve Your Questions About 4 TypesOn December 31, 2019 by Marlene Niemeyer
Many people find a personal loan solution to get their debts up to date and plans in place. However, before going to the bank and applying for a credit line, it is important to know what are the main types of loans that exist, their interest and what are the times indicated for each option.
Knowing this information is important as sometimes getting the wrong loan can generate more debt than solution. To clarify all your doubts on the subject, in today’s post we will talk about the characteristics of the 4 main cash loans available in the market. Check it out below!
1. Payroll loans
It is usually offered to INSS retirees, pensioners and CLT workers. These are the credit lines with low market interest rates (on average 3% per month), because the debt installments are directly discounted in the payroll, which gives more assurance to financial institutions.
To make this type of loan is easy: if you have margin, you can contract the service directly into your bank account. This cash loan is meant to pay off emergency and major debt. Installments will be directly deducted from your account.
2. Online Personal Credit
Many websites offer online personal loan service with lower interest rates than major banks in the market. This is because these companies do not have large physical expense structures, which lowers operating costs.
In addition, credit assessment is often very strict, which creates a qualified list of good payers and allows these companies to practice lower interest rates. Through the internet you can find various credit options online, with limits that vary according to your profile. In addition to the GuiaBayment website, you can compare and borrow via application. There you can find offers with rates starting at 3% per month.
3. Anticipation of the reinstatement of the IR
Interest rates on early income tax reinstatement are also low, as banks have more assurance that their debt will be paid, as installments are discounted as soon as the refund falls into their account.
To apply for this cash loan, you should go to the bank and make sure you have this line of credit available in your account. The term for payment of this credit line is usually shorter than the other options mentioned in this article.
4. Advance of 13th salary
Another very common way to borrow money is by advancing the 13th salary. It has lower interest rates than other personal loans and is easy to get. However, by opting for this line of credit, the interested party will advance your benefit. And that means you won’t be able to count on the money at the end of the year.
To hire this line, you must contact your bank branch. Generally, resort people to this type of loan when they are in the red, with inflexible debts that need to be paid urgently.
Got a question about loan types? Which would be best suited for your situation? Make a comment and participate!