Credit interest rate: how to find the lowest?

Despite the fall in the Selic rate, a reference for the cost of credit, the interest rate for loans remains high. The high risk of default, according to the banks’ assessment, contributions to keep interest rates at high levels.
Knowing this scenario, in order not to make a bad deal, it is important to know the different options available in the market.
Get ahead with the tips we have prepared to help you find the lowest rates:


Research credit lines

Research credit lines

The fees charged can vary widely, depending on the credit line contracted. Making the right choice can be a way to pay less. Therefore, it is best to do a lot of research.
Payroll loans, for example, are an option that usually comes up against personal loans. Because it offers greater guarantees to financial institutions – since the installments are discounted directly from the payroll – the payroll loan has a lower interest rate.

However, the payroll is not always a possible alternative. INSS retirees and pensioners, public servants and employees of companies that have an agreement with the banks that provide the service can hire the credit line. 


Guarantee and reduce the loan interest rate

Guarantee and reduce the loan interest rate

If the security factor is decisive for setting interest rates, offering something as a guarantee may be an option for those seeking more affordable rates.
Currently, the types of loan where goods such as real estate, cars and even jewelry are offered as collateral are gaining ground.
However, it is necessary to consider the risk of losing the asset, in case of late payment of the debt.
For this reason, the option, which can be negotiated directly with the bank, is more suitable for those who have a financial plan solid enough to ensure that payments are always made on time.


Look for the banks with the lowest rates

lowest rates

It is not only in relation to the credit line that there is interest variation. If you really want to find the lowest rates, don’t settle for just your bank’s proposal. Do a lot of research before making your choice.
Of course, depending on your relationship with the bank, it is possible to get a more favorable loan interest rate. Even so, the chances of finding even better conditions in the competition are great.
Also remember that if you receive a current account, it is almost always possible to take your payment to other banks. If that is the case, the advantages offered will be even greater.


Consider the purpose of the loan

Consider the purpose of the loan

For those who want to hire a loan for specific purposes, such as buying a car or a property, it is possible to find cheaper alternatives.
Credit modalities aimed directly at the acquisition of vehicles and other goods may have more beneficial conditions than personal loans.
On the Cream Bank website , you can compare the different rates applied by banks, depending on the type and purpose of the loan,


Trade directly

credit loans

Have you researched the different credit options available and compared the loan interest rates practiced by the different banks? Wait a little longer to hit the hammer, as it is still possible to get better conditions.
Based on the results of your research, it is time to start trading. Present your numbers and payment guarantees, and be sure to take advantage of competitive offers to achieve even greater reductions.
It is worth taking your financial life seriously and studying hard before hiring a credit operation. As we have seen, it is possible to find lower and more advantageous loan interest rates.

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3 types of loans and the benefits of each

Whether for lack of job, reason for illness or to buy a car or property, at some point in life many people have had to resort to some type of loan.

There are many types of loans offered by banks and financial institutions, but do you know how they work and the benefits they can provide?

To answer some of these questions, we have listed here three main types of loans for you to choose the one that best fits your financial situation.


Types of loans

Payroll loan

Types of loans

It can be requested by workers with a formal contract, public employees or INSS beneficiaries (including retirees), and it is released through credit analysis. It works as follows: the loan installments are deducted directly from the salary or benefit, monthly, before the payment is received. In this way, financial institutions are guaranteed that they will receive the installments on time, reducing the risk of default.

Because of this mechanism, the interest charged is much lower when compared to the personal loan, which is the main attraction of this type of loan. Before requesting it, you must consider that the installments will be deducted directly from your salary every month, which causes a lower income availability. It is a way to cover unexpected expenses and, if used responsibly, it can be a good option.


Loan with pledge

Loan with pledge

It consists of taking some object of value such as jewelry and silverware to a regulated pawnshop and receiving money in return, which can reach up to 85% of the value of the pledged asset. The money is released on the spot, without the need for credit analysis, but the item is consigned as collateral and will only be recovered after you pay off the debt. For this very reason, its main advantage is the agility in accessing money, as it also does not need guarantors.

It is one of the fastest and least bureaucratic loan alternatives. It is indicated that this option is used to settle debts urgently. And attention! This modality recommends some precautions. Choose a reliable pawnshop and pay off the debt so you don’t lose the pawned item. Normally, Cream Bank Federal branches have their own pledge window in most cities in the country.


Personal loan

Personal loan

It is common for banks to offer credit lines according to the profile and relationship of each customer. The amounts are already pre-approved by the bank and have interest rates slightly higher than the payroll loan, but have minimal bureaucracy.
The possibility of having extra money falling into your account is tempting, but it is not worth taking out a loan, for example, to buy something superfluous, like a new cell phone. If you have expensive debts (credit card and overdraft), switching to a cheaper one, such as personal credit, is a good option. Opt for lines with low interest rates, such as the one offered by Just and other partner institutions of Best Bank (you can see several offers in the comparator within the application).

The best types of loans for you will depend on your urgency, condition and financial situation. The most important tips are planning, information and installments that fit in your pocket, so that debts do not accumulate and make your financial life unfeasible.

Learn how to get rid of debt quickly

The economy is in crisis and everyone knows they are. It is increasingly difficult to pay the bills. At times like this, Care must be taken so that the financial issues do not become a snowball. Many people are willing to make an effort to keep up with their commitments and want to find out how to get out of debt quickly. your case, check out the tips we prepared in this article.


Write down all your expenses and income

You know that feeling that the money has “evaporated” from your account and you, didn’t you even see where it ended up? The best way to end it? place all values ​​at the tip of the pencil. Whether to get around debts or to earn more money,? it is necessary to control daily expenses, knowing exactly the origin and destination of all values.


Create a goal to save

After knowing everything about your own money, time to organize the monthly budget and create a goal to save. If you are not being able to start with a higher value, like 30%, try to save at least 10% or 5%. That money is used to pay debts and, in the medium term, to establish a healthy financial life. Do you get the way of saving money? It is one of the most important points for the balance of finances. Simple attitudes like having a piggy bank to store the coins contribute to you. develop the saving routine.


Start by paying off debt at higher interest rates

Start by paying off debt at higher interest rates

Require all your debts and make an analysis of each one. Separate the ones with the highest interest rates and plan to quit them today. Unfortunately, Brazilians suffer from high interest rates and postpone paying high-interest debts. it makes the situation worse.


Renegotiate other debts

After paying off the high-interest debts, try to negotiate the other debts. Talk directly to the people and companies you are looking for. must and tell the truth. Show that you? are you? willing to pay. If it is possible, try to pay off the first installment as soon as possible so that you do not fall victim to interest.


Forget the credit card

Forget the credit card

Instead of buying on the card, make your daily purchases (food, transportation, bills) in cash. In addition to avoiding debts for the next month, this practice has other benefits. Can it even seem strange to anyone who is used to it? technology, but having the money in your hands helps you control every penny that comes out of your pocket.


Use financial apps

Nowadays, there are technological facilities that help us control finances. Financial applications for mobile phones, such as Good Lenders, are a great example. In addition to being free, it automatically controls spending, separating it into categories. It works like this:

  1. You? internet banking data inserts;
  2. The Good Lenders application surveys all transactions made in your checking account and credit card;
  3. The tool automatically separates expenses by categories;
  4. Result: is it easier to know where? It is possible to cut expenses and identify potential savings.

Did you like today’s tips? For those who wanted to know how to get rid of their debts quickly, it was clear that the task requires some sacrifices. However, with a little organization? it is possible to breathe more easily. Remember to keep stocks in the long term to avoid getting into debt again! Do you want to receive more content like this?