Loans: see the types available on the market

A loan is nothing more than a contract that the applicant makes with a financial institution. It is one of the best alternatives for people who need to organize their finances, or even make a dream come true.

However, it is important to be aware that when requesting a loan, an interest rate will be charged, so you will pay a higher amount than requested.

Even with the interest rates, this type of credit is a valid option for those who want to improve their financial situation, and thus, become debt free and have control over their budget again.

Types of loans:

Guys 

In a personal loan, the company or financial institution lends the money to the client, and the borrower does not need to inform what the money will be used for. It will only be necessary to negotiate the contract, such as the amount of interest and number of installments.

Advantages:

• Quick release of funds, so once the request is approved the money goes directly into your account.
• The loan can be requested for any purpose.
• Those with negative credit history have the option to request it.

Consigned

This type of loan has a very interesting characteristic. In addition to having much lower interest rates compared to other types of loans, the rates are lower, since the installments are discounted directly from the borrower's payroll. 

Generally retirees and pensioners of INSS, public servants request this type of loan.

Advantages:

• Ease of hiring;
• Lower interest rates;
• You don't need to worry about delays, as it is already deducted directly from your payroll.

Seizure of assets

In this modality, the applicant offers different types of goods, such as jewelry, real estate and vehicles, among others. 

These goods will be analyzed by the financial institution, which will assign a value to the objects, and then the loan will be released for the value of the items offered to the institution.

Advantages:

• Low interest rates compared to other types of credit;
• Agility in obtaining the loan.

Revolving Credit Card

People who have a credit card may have the right to two alternatives when their monthly bill arrives: pay the full amount or the established minimum amount. 

When you choose the second option, a type of automatic personal loan occurs, meaning you pay the rest of the amount directly to the operator. This is how a revolving credit card works.

Advantage:

•  There is no need for a request, that is, the value is calculated automatically.

Special Check

This feature is very similar to a traditional personal loan, in terms of advantages and disadvantages. But the biggest difference between them is that a Special Check does not require a contract. 

In this modality, the credit limit is made available in the current account, and it is used when there is not enough balance available in the applicant's account to pay bills. 

Advantages:

• There is no bureaucracy;
• You do not need to request a limit from the bank;
• Easy hiring.

Personal credit online

This type of credit is quite recent and has many similarities to traditional loans. The difference is that it is only offered online. 

You don't need to go to an agency as the entire process is done online.

Advantage:

• 100% online, that is, you can make the request directly from your home.

Advance payment of the 13th salary

The advance payment of the 13th salary is a service similar to Income Tax. It works as follows: the bank advances the payment of this benefit, and later receives the amount plus interest.

It is worth mentioning that this loan option is recommended for those who really need the money, since it has more disadvantages than benefits, as you will not have extra money at the end of the year, which is a period in which many people need extra money.