For those who need money in a short period of time in an agile and simple way, either to pay off a debt or for a financial emergency, when used properly, online personal loan can be a good alternative. Although it is a fast and effective means, it is necessary to redouble the attention and care at the time of performing this type of procedure.
Secure Online Loan Options
All of the options listed below are from trusted sites, and none of them ask for upfront fees to release a loan. The rates shown are of average interest, and may be lower or higher depending on your credit score analysis:
- Loan with Vehicle in Guarantee
- Loan with Property in Guarantee
- Low Interest Loan, but does not require a high score
- Emergency Loan, unsecured, fast, but interest is high
- Real estate financing
- Business Credit
After all, is online loan insurance safe?
If you are in doubt as to the legitimacy of some credit institution, do research and look for references before closing deals. There are sites that, besides analyzing the veracity of such organizations, also offer services of comparison of rates between banks. The Low Interest website is a great – and safe – example of that.
When you’re in debt and need quick cash, it’s easy to get desperate and lower your guard. Try to be skeptical about any personal loan offer you receive, regardless of where you find the ad. Fraudsters strive to make their scams seem professional and legitimate business.
No serious company requests filing for credit release! None! Never rely on sites that require you to deposit “costing fees,” or ask for credit card details to “have a warranty.” They are steadfast.
However, this does not mean that there are no legitimate and reputable lenders around who are willing to do business with those who have a less favorable credit scenario. Serious and reliable companies do not overlap the convenience of lending to their financial security.
What types of loans online?
There are several types of loans in the market, which vary according to the amount and destination of the money, and with the very person who is applying for the loan (if it is employed, if it has some credit restriction, well to leave guarantee etc.). Know some of the most used online loans:
- Personal loan
- Payroll loan
- Car Financing
- Real estate financing
- Loan with property guarantee
- Loan with car guarantee
- Negative Loan
What are the requirements and documentation needed to make an online loan?
We recommend that, after selecting the most appropriate type of loan for your case and the institution that best meets your needs, you consult with the company about the conditions, as it may vary from company to company.
We have already warned that, in general, large banks tend to be more demanding in their requirements than other institutions. The most common requirements are civilian age, ID and CPF, proof of residence and income and a bank account.
But then, how to make loan online?
Do you need a loan. And you’ve been hearing that there’s a market opportunity to request this service from the comfort of your home, without wasting time in bank and financial queues.
All you need is a computer and internet access to make an online loan. Here’s a step-by-step guide on how to apply for credit simply and quickly.
The financial institutions themselves already provide loan simulations on their websites so you have a sense of the value of the credit repayment installments. However, instead of accessing each of them to know the values and deciding which one is the most in account, you can count on simulator sites, which gather different options and compare them for you.
The Low Interest is a complete loan simulator, free of charge and transparent. If you want to compare your loan with us, go here:
[jbcta] Click here and compare interest rates among various banks [/ jbcta]
2) Choose your loan: pay close attention!
If you are going through a difficult financial situation you must act with some attention. Do not forget to take into consideration the cost-benefit of your long-term credit, not just the agility in which the money will enter your account.
To get a real sense of how much you will be paying on the loan or financing, be sure to see the Total Effective Cost (CET) of the operation. In it are all the rates and rates of your loan.
Also, never forget to check the provenance and reliability of the company you are applying for the credit. Watch out for the punches!
3) Payment method
You have already chosen your loan, you know that the company is trustworthy and willing to take credit. In that case, you need to do an analysis of your budget, considering income and expenses, to know what you can save without negatively affecting your savings.
Plan your budget for the loan in advance, to choose the best date and amounts of plots you want to pay to clear the credit.
At this stage, it is necessary to register on the company website and send the required data and documents. This way, it is possible for the institution to evaluate your credit and if you meet the necessary requirements. Remember: the requirements and requirements may vary from institution to institution.
Simulate a Low Interest Loan!
Compare rates for more than 20 banks for your loan. Escape high interest rates and get the loan with the best rate for you!
5) Credit analysis
Here the value of the loan, form of payment and its documentation is analyzed by the institution. This analysis can take a few hours or weeks, varies from bank to bank. Want to understand how a credit analysis works? We explain in this content.
6) Money on account!
In case your credit is approved, the money is deposited into your account quickly.
Online Loan: Warning Signs
Everything involving money causes a bit of insecurity. Although it is a natural feeling, do not let fear keep you from conducting a good business. For this, we separate some tips that will help you when making a loan.
1 – Lender who is not interested in your credit history: It is very strange that a financial institution does not worry about your credit history. After all, it will depend on your future payments.
2 – Advance Fees: As we mentioned above, this is one of the major scams. Legitimate lenders will not ask for any payment before receiving your loan.
3 – Pressure to act immediately: Whether for online or face-to-face loan, be wary of whoever offers you the credit, especially if he is in a hurry to “close a great deal.”
4 – Personal Information: Never give your credit card number over the phone or the internet, unless you are familiar with the company and know why the information is being requested.
5 – The lender avoids saying where it is: If the broker hesitates to tell you your physical location or other company data, if you ask, be careful!
6 – You do not register with the Central Bank or are not a bank correspondent of a registered bank: Before doing business with any creditor, verify that the responsible person or company that he claims to represent is registered with the competent authorities. Consult the CNPJ of the institution and check the evaluations made by the users in the Reclame Here website, thus’ it is possible to analyze the performance of the services offered.
The 2 most common scams when making an online loan
1 – Advance payment of fees
This is one of the most applied scams. It all revolves around trying to get you to pay a fee in advance at the time of loan approval. Insurance fee, processing fee or three months advance payment: the names change, but the coup is the same.
2 – Phishing
This is the practice used by fraudsters when they pretend to represent a business to induce you to give out your personal information. Sometimes these scams are made by personifications of websites of renowned financial institutions. Other times, they spend more time building a legitimate looking website by offering you a loan. In both cases, the goal is the same: get your personal information to appropriate your money.
How can I protect myself from scams when making an online loan?
Whether for impulsivity in a critical situation or lack of information, there are several reports of people falling into online credit scams. To get a sense of how this scam is and to see a list of fraudulent companies we make this content available.
Here’s a list of care to take when taking an online loan:
- NEVER, under any circumstances, deposit advance amounts to release a loan. This is an illegal practice and it is certainly a
- Pay attention in case of a very advantageous and unreal offer
- Check the origin of the company: access the Central Bank to find out if it is a company that exists and reliable
- Beware of sites you access: check your browser if the site contains https: // and the green check pad, indicating that it is a secure page
- Find out on sites like Procon and Claim here the reputation of the chosen company
- Analyze your budget
In addition to paying close attention to all the information that the financial institution will provide and in the aforementioned councils, it is worth mentioning the care with the use of internet banking a medium quite used today, and also protect yourself from scams with the following tips:
1 – Search the CNPJ of the company and the address of the headquarters
2 – Search the reputation of the company on sites such as Claim here and Low Interest
3 – Compare the monthly interest rates and payment terms offered by the lender with the average financial market and other financial institutions.
The more information, the more security!
Do you have any doubt? Talk to us in the comments! And if you need to compare loans to get the lowest interest rates, use our personal loan simulator.
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Advantages and disadvantages of online loan
The main advantages of online credit lines are related to the convenience, agility and less bureaucracy they bring. These are even some of the main flags that fintechs defend: using the technologies to offer a more agile and personalized service for the consumer.
In addition, there are companies that can offer loan lines even for negatives. But this is no guarantee that you, who are under a credit restriction, will get the loan and yes, that will not be the only factor evaluated.
Some disadvantages are related to interest rates that may be slightly higher, depending on the mode and company. In addition, if there is no prior planning of the loan and its payment, there is a great risk of indebtedness.
The finalization of credit fintechs: more security and reliability in online loans
The National Monetary Council announced in April 2018 that a resolution has been passed allowing Fintech to operate more independently. The regulations aim to promote an increase in the offer of credit services in the digital sphere and, with the greater competition against traditional banks and financial institutions, a drop in the high interest rates for loans and financing in Brazil.
It is very important to research before doing credit operations and never forget to do simulations before closing deal. And if you want to know more and understand more deeply all the factors and impacts of fintechs, check this text.
See you! And do not forget: the more information, the more security. If you have any questions tell us in the comments! And if you need to compare loans to get the lowest interest rates, use our personal loan simulator.