Currently, the credit scenario in Brazil has been presenting high rates. Credit card revolving interest rates had the highest rate since 1995, according to the latest Rose Bank release. The rate exceeded 460% per year and 15.49% per month.
A cheaper and advantageous option for Brazilians at this time is the loan. But how do you get a fair interest rate or a Total Effective Cost (CET) that fits in your pocket and doesn’t leave your account even more in the red? In addition to Registrato , Fundico has selected tips to help you negotiate the best rate:
1. The payroll loan
This type has one of the best interest rates in the market, but is offered only to INSS retirees and pensioners, as well as employees of private companies that have an agreement with the bank. The interest rate is reduced because as the payment occurs by payroll discount, the bank’s risk of default is much lower than that of an unsecured personal loan.
It is noteworthy that some banks are suspending payroll-deductible loans for disability retirees.
2. Refinancing Your Property
In this type of loan, you can offer your property as collateral. The interest rate may be lower than that of a payroll loan, however, presents a very high risk, because if you can not pay the debt, there is a chance of the financial institution to take the property to amortize the current debt. So think carefully before choosing this option.
3. Anticipation of Income Tax
Even though it is considered as a personal loan, the interest rate is reduced because the bank debits the amount of the advance as soon as the deposit of the income tax (IR) refund occurs. We remind you that the option is offered by the bank indicated during the filing of the current IR statement. The risk offered in this case is that the customer will fall into the loop and have a lower repayment amount than the bank borrowed, which can cause debt that is not ready to pay.
Be careful before opting for this credit solution.
4. 13th off-season salary
An alternative is to request your bank’s 13th salary in advance. In most cases, it has a lower interest rate than that offered on other lines of credit, such as overdraft. However, the disadvantage of requesting the advance is that you will be without it at the time of year with the highest spending, Christmas and New Year.
5. Online loan!
Companies like Fundico offer personal credit with the much more advantageous CET because as they do not have branches, the cost of operation is reduced and this advantage is passed on to borrowers because interest rates are among the best in the market. Fundico’s CET may vary from 3.30% to 5.77% per month , depending on the customer’s credit analysis and installment option. It is an option for those seeking a lower interest personal loan without having to give collateral such as real estate, automobiles or consignment.