Despite the fall in the Selic rate, the reference to the cost of credit, the interest rate on loans remains high. The high risk of default, according to the banks’ assessment, contributes to keeping interest rates at high levels. Knowing this scenario, 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:
1. Search the credit lines
The fees charged may vary greatly, depending on the credit line contracted. Making the right choice may be the way to pay less. Therefore, it is best to research a lot.
Payroll-deductible credit, for example, is an option that usually comes up against a personal loan. As it offers a greater guarantee for financial institutions – than the discount installment is made directly on the payroll -, the payroll loan has lower interest rates.
However, payroll is not always a possible alternative. The credit line can be used by INSS withdrawals and pensioners, public servants and employees of companies that have agreements with the banks that provide the service.
2. Guarantee and reduce loan interest rate
If the safety factor is a determining factor in setting interest rates, offering something as a guarantee may be an outlet for those looking for more affordable rates.
Nowadays, the types of loans are gaining ground as goods such as real estate, cars and even jewelry are offered as collateral.
However, the risk of losing the property should be considered in the event of late payment of the debt.
Therefore, the option, which can be negotiated directly with the bank, is best suited for those with sound financial planning to ensure that payments are always made on time.
3. Search for the banks with the 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 just be content with your bank’s proposal. Research hard before you make your choice.
Of course, depending on your relationship with the bank, it is possible to achieve a more favorable loan interest rate. Even so, chances are you will find even better conditions in the competition.
Also remember that if you receive a checking account, it is almost always possible to take your payment to other banks. If so, the advantages offered will be even greater.
4. 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, you can find cheaper alternatives.
Credit modalities aimed directly at the purchase of vehicles and other goods may be more beneficial than the personal loan.
On the Savequest Bank website, it is possible to compare the different rates applied by banks according to the type and purpose of the loan,
5. Deal Directly
Have you researched the different credit options available and compared the interest rates on loans practiced by the various banks? Waiting 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 move on to trading. Enter your numbers and your payment guarantees, and don’t miss out on competitive offers to get even bigger reductions.
It is worth taking your financial life seriously and studying long before hiring a credit operation. As we have seen, it is possible to find lower and advantageous loan interest rates.