” I want to make a Payday Loan application, and now?” these Payday Loans basically serve to solve financial ordering questions and sanitation of finances with balance problems.
Usually the Payday Loan application is designed without there being a need for the client to have to provide some kind of justification for the Payday Loan application to be approved, it can be used to solve any type of expenses or acquisition of goods.
The Payday Loans borrowed almost always have their resources used for the payment of private or family expenses in most cases, also serve to sponsor the holiday trip, the remodeling of the house, purchase of computer products, purchases of furniture for home or even even to finance studies etc.
But to get the grant application some basic rules are normal in most institutions, the first factor for the person to get a Payday Loan , is to be at least 18 years of age, to be working for more than 6 months, to have a fixed residence for more than 12 months and be with the name clean, that is, have no “restriction” because of financial or consumer debts.
It has not yet arrived with force this rule in Brazil, but in some countries of Europe and the United States the personal Payday Loan is linked to life insurance (this insurance guarantees the coverage of expenses with benefits in case of death or disability) and a protection insurance (this insurance guarantees the payment of benefits in case of temporary incapacity to pay).
In Brazil we already have the Payday Loan with Lender Insurance that some Banks are already embedding in the balance due of the Payday Loan.
Usually the amount of these Payday Loans will vary from R $ 300 to R $ 45,000 in personal Payday Loans, and from R $ 300 to R $ 65,000 in payroll Payday Loans, payment terms can range from 6 to 72 months. It is worth remembering that there are some specific characteristics for each type of Payday Loan, and there may be differences in values and terms depending on the lender.
When hiring a Payday Loan the first factor that needs to be taken into consideration is the maximum term of the operation, Payday Loans with longer terms consequently have higher interest rate, the rule is, the longer the term, the higher the interest rate.
It is not the custom of Brazilians but attention should also be focused on CET (Total Effective Cost).
The interest rate on Payday Loans is one of the most important factors, as it is a variable credit factor, that is, it changes depending on the type of Payday Loan , deciding what type of Payday Loan application you will make will ultimately influence the total amount paid by the Payday Loan.
Try to make the Payday Loan application that you really need, access the banking institutions that present the best solutions and credit conditions and choose Payday Loans with the best feature for your consumer profile, and everything will work out very well.