Applying for a personal payday loan is serious, but it does not have to be difficult. So let’s introduce you to 7 questions answered that will guide you when it comes to giving you that little hand to get out of the grip, understand your personal credit clearly and objectively. Come on!
1. Can anyone apply for a payday loan?
To apply for a personal credit you must meet certain requirements: be between 18 and 65 years old, live in Brazil and be with the “clean name”, that is, do not have the name denied credit institutions, such as Serasa or SCPC.
2. What documents are required for credit analysis?
Usually the institutions ask for the identity document, proof of income and proof of residence. These documents are requested to prove that it is you who asks for the loan and ensure that you have the conditions to pay for the loan installments, so it must be done on your behalf.
Some institutions may request other documents, so it is worth doing a search before closing business.
3. How is the credit analysis done?
Based on the observation of your documents the financial will decide whether to release a credit offer following the criteria of the institution that may vary as well as the offer.
4. How is a loan released?
Through your credit score, calculated score in banks and institutions that points out whether or not the credit can be released. A positive relationship with the credit market will yield a high score, which means you are a good payer and have a good chance of getting a loan.
5. Only by my credit score do I get a payday loan?
Commonly yes, other information will also be analyzed, but within the credit score. Some institutions can now also search data on social networks to assess the consumer’s relationship to money.
6. What should I know when applying for a payday loan?
It is essential to keep an eye on the interest rate you will pay, ask if it is being calculated in nominal or CET (Total Effective Cost). Be aware of the payment term and whether the installments fit your budget.
7. When will I finally have the money?
The term varies according to the financial and if the documents delivered are up to date. With the ease of the loan online, it is possible to have the release in up to three business days.
See how easy it is? Now that you understand the steps, it is even simpler to ask for your personal payday loan, so enjoy and do your analysis with us, here is fast and without bureaucracies. Financial Group, you far from red.