If you are looking for sources of credit, there are two ways to get money in the square, you can opt for loan or financing. The two modes have advantages and disadvantages. Therefore, we separate some information on which is the best option. Check out the article below and see which one best suits your situation.
Loans x Financing
What is loan?
The loan is a form of credit that has no restrictions on its use, ie it can be used for anything. In this mode, the only rule is to pay the amount with interest that is accounted for according to the way it was successful.
You can borrow from banks and financial institutions. Because it is a popular mode and easier to obtain, the interest rates applied are higher than in a financing. This is because the credit analysis is exempt, the only concern being that the customer will pay the lender.
There are several loan and financing options available in the market.
What can I do with a loan?
As the loan does not need to have a single purpose, you can use it to:
- Pay the credit card;
- Pay the overdraft;
- Remove debts;
- Buy goods;
What is financing?
Financing is the type of credit most chosen for those who want to buy a property or car, but it is more bureaucratic. Because it has a single purpose, credit analysis and the justification of the use of money are analyzed with great caution. Banks and financiers also function as lenders for financing.
Also, pay close attention to CET (Total Cost of Credit). This index will show all fees charged on the financing and other charges charged that vary from bank to bank.
What is the best option?
To decide which mode is best for you, it is important to keep in mind what the purpose of the credit will be. After that, check the interest rate. According to the 2016 data of the credit report of the AFB Bank of Brazil, the average interest rates for auto financing and payroll loan were:
- Financing : 26%;
- Paycheck-deductible personal loans for civil servants : 27.3%.
Remember that they are average values, that is, they are variants and close to the values made available.
Therefore, applying for a loan or financing depends on your need. If you want to request a more flexible mode and use the money without having to justify to the bank, the loan is the best option.
However, if you want a broader and faster mode, without having to justify borrowing money, financing is the best option. But, it is necessary to organize and control your parcels, because in this modality your property, as a property or car can stay for the bank, if you do not pay the parcels correctly.
To decide which one is the best option for you, evaluate what the terms of payment are and what purpose you will use.
How to request the modalities?
It is possible to take out loans without leaving home, but before that, make sure the company is reliable, look for referrals and testimonials from those who hired your services. After that, evaluate how much you really need and whether you will be able to pay the amount.
Preferably, search in more than one location for the credit amount, the interest rates, and the term to pay. Thus, you will have a wide range and will choose the best shape for you.
If you are interested, you can consult the loans of the companies:
Moneyman is an online fintech that carries out the whole loan process via the web. The company functions as a correspondent banking, playing the intermediary role between the users who access your site and the banks that offer loans.
At Moneyman’s website, the user can simulate the value and term of the loans quickly and see which is the best option for him among the banks that offer the credit. After the loan application, the data is sent to the chosen financial institution.
The approval is made within 2 hours, and after that the credit is sent to the account of the applicant. There is no need to send documents in the request by the site, in MoneyMan there is no paperwork.
One of its advantages is that it offers a loyalty program, which by adding points, you can get a loan with discount on the interest rate.
The loans can vary from customer to customer, having as payment term a minimum period of 3 months and a maximum of 12 months.
- Minimum loan amount: R $ 500;
- Interest rate: from 17.99% per month.
Simplic is a banking correspondent. It was founded in 2014, in São Paulo, with the objective of providing access to online personal credit in a flexible, innovative and uncomplicated way. On the Simplic website, you can make a credit simulation according to what you are looking for in terms of deadlines and values.
During the request, there may be a need to send documents by email for credit approval. If approved, credit will be credited to your account within 24 hours.
In addition, Simplic works with lower interest for prepayments. The discounts are automatic when paying the installments in advance.
- Minimum loan amount: R $ 500;
- Interest rate: can vary from 15.80% to 17.90% per month.
Rebel is a fintech that facilitates the process of hiring personal loan through its platform. She acts as a banking correspondent, mediating the client’s relationship with the lender.
Rebel offers between R $ 1,000 and R $ 25,000 to pay between 3 and 24 months. After approval of the credit on the site, the credit falls on the account of the request within 24 hours. On the site it is possible to do a simulation of values.
To apply for a loan, you do not need collateral and nor payroll margins, as some financial institutions ask. Credit analysis is done within 2 hours.
- Minimum loan amount: R $ 1,000;
- Interest rate: from 2.9% per month.
Each financial institution has its types of services geared towards service for this purpose. So consult your bank about financing options.
If you are interested, you can consult the financing of the companies:
RTE Credit is a digital access platform for small businesses aimed at providing support for you to start or leverage your business. She also acts as a bank correspondent, which mediates between the client and the bank.
Here’s what it takes to make a loan request at RTE Credit:
- The requesting company must have more than 1 year of CNPJ;
- Monthly invoicing above R $ 10,000;
- Bank account of legal entity.
Biz offers a simulator on the site, and after the simulation, if the answer is positive, the user receives a pre-proposal without commitment, with validity of 2 working days for acceptance.
In the platform it is possible to request credit from R $ 5,000 to R $ 150,000, which can be split up to 24x.
- Minimum loan amount: R $ 5,000;
- Interest rate: from 1.99% per month.
Creditas is a digital platform that acts as a bank correspondent to facilitate the process of contracting loans from clients, working between the client and the bank.
The company works with collateral loan, also known as refinancing. This is a type of credit in which you use a good, such as a car or a property, as collateral for the payment of your loan. From this, they offer a lower rate of interest.
In this mode of borrowing, you can turn a percentage of the value of your asset into credit. Creditas that evaluates how much its well worth.
Using vehicle as collateral:
- Minimum loan amount: R $ 5,000;
- Interest rate: from 1.69% per month.
Using property as collateral:
Minimum loan amount: R $ 30,000;
Interest rate: from 1.09% per month.
Now that you know how to apply for a loan or financing, how about sharing this article with your friends on social networks? And if you have any questions, please let us know in the comments below that we will help you. To the next!