Personal Loan to Honor Financial Commitments | Payday Loans
In Brazil the starts of the banks to change the interest down is impressive. Despite the steady declines in the basic interest rate, the Selic rate, any citizen sees is that banks and financiers take time to pass on the benefit of low interest to the borrower, people loans, financing and resources to companies. Who pays the price is the pocket of the citizen, who gets the difference are the banks.
Personal loan to honor commitments
That is, for the lenders who are applying their money in the financial market, the effect of the gains are “quick and easy,” as I have said: this is different for people who need borrowed money and personal loan to honor their various commitments and keep finances up to date.
Want to know more about interest rates, quickly access the website of the Central Bank and search the page TXJUROS that you will find in a few seconds that there are fees for all types of financial profile and credit modalities.
Speaking of mode, one hundred no doubt the mode of revolving credit applied on cards and overdraft are the most expensive for the borrower. These two modes have average interest rates around 10% to 14% per month.
There are financial institutions and banks that even practice lower rates and other higher rates, but usually cheaper rates are directed even to customers who do not need these types of resources, ie low rates only serve those who offer minimal risk to institutions financially, and we all know that the reality of most Brazilians is quite another.
We are in a jungle without a dog – as my grandmother used to say – the Copom lowers the Selic while sitting and quietly observes the contempt of the banks with the citizens when the Central Bank itself discloses in its page and accepts the absurd rates still practiced by the majority of the institutions of credit.
Cost of loan with dirty name, without consultation or restriction
The loan without consultation to the CPF or the loan to negativado with restriction are expensive themselves, around 15% to 24%, all the way through the loan with interest shark comes out even cheaper – that irony. Already the options of loan with guarantee of property, of vehicle and the pawn of jewels, tends to have cost with interest lower. Because? Simple! This kind of money financing as well as the payroll loan (1.8 to 2.05%), represents less risk to the creditor who intervenes the financial transaction.
In the latter three, they represent interest rates ranging from 1.2% to 4.13% monthly, with charges ranging from 2.1% to 3.0% per month being more common. Undoubtedly, these numbers have nothing to do with the transactions made with the overdraft and the credit card rotary that the Brazilian is well accustomed.
In the case of the jewelry pledge, interest is on average 2.1% per month, the advantage of this personal loan is also obtained even if credit restrictions are in the name, that is, even if the person’s CPF is on Serasa and SPC that represents being “dirty” name he gets the money he needs.
But, the pledge is only obtained in the Federal Savings Bank. As far as you know – banks raise funds (money) at rates below 7% a year and lend these same resources at rates ranging from 40% to 290% a year – think of it!
Search for alternatives to loans offered in the market
We must do something against all this, while the BC is turning a blind eye, and this filthy practice is not reviewed by the institution, it is up to each citizen to be attentive and launch the alternatives offered in the market such as Peer-to-Peer and Crowdfunding or other than opportunistic banks.
When making or applying for a personal loan, ask yourself: What sacrifice do I make to get my salary or to have money? Ask yourself if you are willing to pay interest of 10% to 15% per month, even if you need money when your salary is readjusted by 3% per year.
Want to reduce the financial cost of your loans, financings and financial commitments? For this, it is imperative that you research a lot, compare terms and conditions and assess whether it is worth it or not get into debt.