Loan or financing
Loan and financing, personal credit, credit cards, banks and financial. In Internet searches, anything you want with a simple search can get results on the chosen term. To find the loan or financing you need from lenders and financial institutions, you need to take some care and seek information that most are unaware of.
For starters, what is a loan? The loan is an agreement made through contract or term that a citizen celebrates with a financial institution, loan companies or credit unions to receive a certain amount in cash, later that amount will be repaid to the lender within a period fixed with the addition interest, fees and charges. In personal loan, the money released is not granted with certain destination, the borrower can use the resources however he wants.
It is worth remembering that no creditor or credit institution has an obligation to grant loans or financing to the contractor, the concession must undergo credit and income analysis and evaluation criteria in order to be able to release them.
Another important fact about the granting of loans and financing in banks and financial institutions – institutions are not limited by any body regarding the value of interest rates charged in financial operations, however, the National Monetary Council (CMN) imposes some rules that guarantee to the borrower to effect the discharge or anticipation of loan payments entitled to proportional reduction of interest. To avoid problems, check before signing the agreement the terms for settlement and prepayment of installments. The interest rates applied by credit institutions in Brazil are available on the Central Bank website (BC).
When finding an institution and deciding to hire the loan, information should not be overlooked, look at the Total Effective Cost to compare what was offered and what will actually be charged in the operation. The CET informs the total cost of the loan or consumer financing, in addition to the annual interest rate, the CET includes all costs, charges and expenses that will be applied in the operation. Do not forget that when taking a loan, do not just look at interest, there are other expenses such as: fees, taxes, insurance, extra fees and other expenses that can be included in this account.
Before you search the internet for loan or financing, compare the interest rates and terms offered in at least 4 banks and financial, if you have access to credit unions add it comparison.
The internet is full of “scams”, will make the loan, inquire if the company or financial institution is authorized by the Central Bank to operate with credit, be sure to read the contract before signing and never forget the loan or financing is a and should be paid.