Best Bank to Make Loans

Best Bank for Loans

To say the best bank for obtaining credit is a very delicate question in Brazil, in my opinion here there is no better bank, there is a bank with lower rates and, consequently, it makes me wonder if the organic search is really free from interference, especially when we look for for ” best bank to make loans “, the economic Apobank appears at first although the key words do not have much relevance, will understand.

In the country, with the end of the exclusivity imposed by the Bank of Brazil and the policy of competition “sweeps the block” of Apobank, the interest rate war between personal and payroll loan providers has been decreed, is currently in full swing from the beginning of this year, 2013 with start in 2012. This is the standard so far, who can lower your spread, have the lowest rates and become market leader.

What is the best bank to take out a loan?

We always have an advertised that one or another financial institution that has cut their lending rates, personal credit, credit limit or card, so for the consumer of credit, doing searches over the internet or on specialized websites in search of more affordable conditions can generate a good discount with interest rates, and by the end, more money in the pocket.

To know, the consumer can use online forms or tools for online loan simulation, the problem is that simulators never provide all the information that is really important and overall the total cost does not appear. Another problem is that if you really want to know the best bank to make a loan, you will have to go from bank to bank in person and even then you will not know all the pertinent information to request.

To make matters worse, the agencies report that to have the lowest interest rates, the contractor has to be within a series of rules, conditions, profile, credit policies, rating, scores, relationship time and over a million requirements.

“For you to know the best bank to hire your loan, it will not be easy, as said, it is not always that you will have an accurate comparison of the rates and conditions, if you can not have the exact rates of interest, then you will not know which bank is the best.

So consider the best bank to borrow personal loan and credit, the one that is serving you now, especially if you already have a relationship and good move, change bank to get better rates in Brazil with portability is like the movie ” OZ “, is pure fantasy.

“Just be content to have an affordable rate at a bank that accepts you as a customer and for economic reasons and aiming at only profit releases loan for you”

How to choose the best bank to make personal loan?

Before you choose which best banks to hire your personal loan, the interesting thing is to evaluate many lines of credit products to find the best loan modalities, from there, choose the best bank or financial institution.

In our analysis, we consider the following criteria:

• Competitive interest rates: lines of credit and personal loans are offered in secured and unsecured formats. Due to the many risk factors involved in granting a loan, many lenders charge higher fees. Look under your conditions the best bank that shows in the CET to have the lowest rate, even for those who are negative.
• Amounts released in the loan: Each modality will release a certain amount of money, in loans for negative and general it is up to R $ 5 thousand, consigned up to R $ 50 thousand, with property guarantee up to R $ 1 million or more. Choose the one that best fits your borrower profile.
• Loan Deadlines: Most personal loan lines are structured according to the type of loan, in payroll the term is up to 96X, the restricted loan up to 12X, the home equity up to 180X, the loan sharks up to 30 days and and so on. The best bank is the one that has the conditions and deadlines that fit in your finances.
• Additional Fees: Many lenders may want to charge commission or any other fees. The most common is that there is no collection beyond what is allowed by the BC, taxes such as the IOF and loan insurance. Stay tuned!
• Accessibility of the creditor: Many banks do not allow the request to be made online. Still others insist on loans with paperwork. We classify online access as the basis factor in eligibility requirements to be the best bank to take loans. Fast and efficient customer service too.
• Creditor Credibility: Review claims made on the Internet for each lender you are interested in making your request. Check the reputation of the company with borrowers. Check out if the company or bank is what it claims to be for you not to take risks of losing money instead of getting money.

What is the best bank or online financial lender?

There are many types of financial institutions that are willing to lend money to individuals. Let’s list only the top three options for getting an uncomplicated personal loan:

• Banks and financial institutions: Some large banks and financial institutions offer personal loans with facilities and optimal conditions for both clients and non-clients.
• Credit unions: Local credit unions can offer personal loans with much lower interest rates and more flexible terms than banks and financial institutions and even alternative creditors. Check this out!
• Online lenders : These lenders offer a convenient way to research and compare personal loans and indicate banks and companies to apply for everything done over the Internet. Look for lenders who offer a range of proposals for you to choose the best.

Approval of the application in the best bank

Once you select a banks lender that matches your needs, you will need to provide the following documents to formally request the loan:

• Identification: driver’s license, identity, CPF and / or Social Security card
• Verification of address: utility bills or copy of rental agreement
• Proof of income: Checks, payslips, bank statements or tax returns

The bank lender that you considered to be the best, will perform a verification of your credit and data to make sure the information is correct and set by approving or denying the request.

If there is final approval, you will receive the amount requested according to the terms of the contract that will be signed, usually on time, or on the same day, depending on the modality.

Note : Hiring a personal loan can help you relieve your debt and cover unexpected costs, but take stock of your options before choosing a specific line of credit. Find lower rates, and just borrow the amount of money you need and be quick with your payments.

Use of collateral to get a loan for your small business

When small companies lag behind cash coming in and spending cash, they can use collateral to obtain the necessary funds for short-term needs, such as paying employees and buying raw materials. Asset-based issuers only accept certain types of assets as collateral and have special requirements. Assess eligible assets that can be used as collateral and best practices when searching for asset-based loans.

Eligible assets for collateral in asset-based loans

Lenders accept debtors; high-quality balance sheet items such as production equipment and trucks; and product inventory as collateral for asset-based loans. Each asset type offers the borrower different advantages and disadvantages.

Debtors

Small business owners can only use their debtors of the highest quality, often those of less than 60 to 90 days, as collateral for asset-based loans. Lenders value debtors with a 20 to 30% discount on the actual value. In the event that a borrower defaults on his asset-based loan, the lower value creditor can set off the claims with a discount, encourage a faster payment and still make a profit.

A disadvantage of using some of your most liquid assets as collateral is that you could end up in a larger money crisis if those funds are seized by your lender. Another drawback is that the bank can request updated financial statements, including projections for upcoming quarters or fiscal years, to make a final decision.

Production equipment and trucks

Unlike debtors, production equipment and industrial vehicles are valued at less than 70% of their actual value. Lenders must take into account additional costs and challenges. When there is a very limited pool of potential buyers for a specific machine or vehicle, the financial institution that provides the loan may have reduced the bargaining power. The lender may need additional assessments to better understand the actual market value of the asset and include the cost of those appraisals in the loan reimbursement schedule. In the event that a liquidation of the asset does not cover the full balance of the loan, the entrepreneur is still liable for the remaining debt.

stock

Whether raw materials or finished goods, inventories have the lowest valuation from the potential assets that can be used as collateral for a loan. Depending on their size, stocks may require storage space, climate control and security. Lenders assess eligible stocks at around half their market value. When using inventory or other assets as collateral, a business owner must often insure and value the assets. To reduce exposure to risk, a lender may have additional requirements for issuing an asset-based loan.

Practical tips when searching for asset-based loans

Small businesses that have just started or have a limited history of business loans can use asset-based loans as a solution to finance their cash needs in the short term. It does not matter which of the three types of collateral a business owner intends to use, he must have his financial statements in order and up-to-date.

By anticipating all potential requirements of a lender, such as appraisals, insurance policies and settlement history of claims, a business owner increases his chances of obtaining an asset-based loan. Consider all of your available financing options before signing up for asset-based loans. In 2012, only one in three small business owners had their actual business credit score, according to a March survey of 889 small businesses by The Wall Street Journal and Vistage International, a San Diego-based executive mentoring group. A secured loan is preferable to an unsecured loan and allows business owners to strengthen their business credit scores.

The bottom line

Getting short-term financing is possible with the right collateral. Pay attention to the requirements for each type of collateral and prepare accordingly. Although asset-based lending has some intrinsic risks, it can provide much-needed capital to emerge from a cash crunch and increase business revenue.

Before you buy that house: buy the best loan

Before you start looking for a home, the first thing you need to do is to be qualified for a mortgage in advance. It only takes a short phone call with a lender, either at a bank or with a mortgage broker to do this. The reason for this is to make sure that you are really eligible for a loan and to know how much you can get and which type of loan suits you best.

But the borrowing process can be scary for some people. Here is some information to help you find the best loan. I often get the following questions from potential buyers when it comes to the borrowing process:

What type of loan should I receive?

Let us look at a brief overview of the types of loans. The best is usually a conventional loan, but not everyone is eligible and you will probably need Uncle Tomijk at least a 5% down payment. FHA loans are intended for people with lower credit scores and / or less money to record. The down payment on an FHA loan is 3.5% of the sale price.

If you or your spouse is a military or national guard veteran, you may be eligible for a VA loan. This is a zero-down loan, but there is a financing contribution that is either paid on closing or you can have it added to the loan amount. The financing costs are just about 2%, but may vary from year to year.

Another zero-down mortgage is the USDA loan, which is available through the US Department of Agriculture (USDA), and which also has a similar financing contribution. But USDA loans are only for areas with small populations, usually in rural areas.

You can view this map to see if the area where you want to buy a property qualifies for a USDA loan. Click on the left on the link with the text “Single housing” or “Multi-family homes”, accept the indemnity and then enter an address at the top of the page.

Not everyone can choose which type of loan to take. A credit score of 700 or higher is excellent, and can offer you a choice of loans, but if your credit is only so-so (580 – 650), you probably only qualify Uncle Tomijk for one or two types of loans.

Do I have to use the bank where I have my checking or savings accounts?

Many people I’m talking to think that since they’ve been working at XYZ bank for a number of years, they get somehow a better deal or are more likely to qualify by getting their mortgage through them. That would of course be nice, but unfortunately it makes little difference.

Most pre-qualifications today are done through an automated acceptance system, where the applicant’s information is entered and then an automated approval or rejection is generated. Even if your great-grandfather went fishing with the great-grandfather of the president of the bank, it makes no difference if your credit score is too low to qualify for a loan.

Does the interest matter?

Yes it does!

If you buy a house for $ 200,000 with an FHA loan of 4%, your loan amount is $ 193,000 and your monthly payment of principal and interest is $ 921. The same loan amount at 4.25% is $ 949 per month. Believe it or not, for over 30 years that’s a difference of $ 10,000.

What are “points” on a loan?

Points are fees charged by lenders to lower the interest on a loan. There are two kinds. The first is a loan premium and the second is a discount point. By loading a point, your interest rate is reduced by around 25%, but one point also costs you 1% of the loan amount. On that $ 193,000 loan, one point would be $ 1, 930. So you can see that the number of points charged has a significant impact on your out-of-pocket spending on the day you close your home.

Therefore, do not only look around for the best interest rate without also taking into account the number of points charged by each lender. If you are only planning to stay at home for a few years, you are much better able to take a higher interest rate with fewer points, because it takes many years before the interest rate cut equals the amount that points has been spent.

Can I look around for a mortgage without harming my credit score?

Yes, that’s possible!

FICO credit scores range from 300 to 850. Approximately 65% ​​of your credit score is based on your payment history and credit usage. Paying creditors on time is the best way to increase your credit score. Please note that the recent credit history is more weighted than your history from a few years ago. Even people with bankruptcies, forced sales and car seizures can still get a mortgage if enough time has passed to reduce the effect of those credit dings on their score.

It used to be that borrowing money several times and attracting your credit report several times would lower your credit score due to Uncle Tomijk. But a few years ago, Fair Isaac & Co (FICO) changed their system so as not to penalize too much for buying loans.

In the current system you can get multiple credits on a mortgage without penalty, but only if you have them within a period of 45 days. At most, each pull lowers your score by only 5 points. So mark your calendar with the date of the first draw so that you can stay within that time frame.

So happy shopping and good luck finding the best loan for you before you buy that house!

Debt Renegulation Helps Organize Finances

Those who are in debt and believe that the best solution is to wait for the time to pass can compromise financial health for long years. Debt renegotiation helps to organize finances and make dreams come closer.

One of the worst consequences is the restriction of access to credit and the inclusion of the name in credit protection agencies such as Serasa and SPC. The dirty name decreases the credit score and makes it difficult to release loans, financings and credit.

If you are in debt and do not know what to do, do not be discouraged: there is a debt solution. Check out the tips make renegotiating the debts even without money.

1) Forget the myths

Certainly, you must have already come across the term “expire” debt or debt prescription. The fact that the debt “expires” or prescribes does not mean that the debt is forgotten or erased (as if it would not exist anymore), but that the consumer, if not charged within five years, can not receive a charge .

So, forget the myth: the debt still exists, but it can no longer be charged to justice. And, despite having the name taken from the credit protection registry, banks and financial institutions have access to overdue debts by consulting their name. It is better, then, to renegotiate your debts as soon as possible.

2) Face the problem

Debt is a sign of a headache, is not it? Facing financial problems is the only way to manage your finances and financial health.

No matter the size of your debt and the resources you have today, just an effort to find a solution . Before any attitude, contact the lender to find out where your debt is standing.

It is important that you update and find a way out to repay the debt. Ask:

• how interest is collected;
• days have passed since maturity;
• what are the options for debt renegotiation;
• on discounts, after all, every company prefers to receive some amount to not receive any.

3) Assess your situation

Now that you know how much you owe, it’s time to evaluate your financial situation:

• Is the balance negative ?
• How much do you earn and usually spend per month?
• What accounts do you pay monthly?
• Do you have loans or financing in progress?

The financial check-up is indispensable for you to define how much you can direct per month to the debt settlement. Do not count only on the memory: write it down in a notebook or in the free Spending worksheet of Bom Pra Crédito .

Take the time to identify the habits that may be preventing you from paying bills on time and renegotiating debts, such as installments, overdrafts , credit card revolving credit, among others.

4) Cut Costs

What are the expenses you can reduce or even cut to renegotiate debts ? There are often enough adjustments in financial habits for you to pay outstanding debts.

For example, the custom of using the credit card, splitting most of the purchases and then not being able to pay the full amount of the invoice, or using the overdraft as a vicious circle, which is when the money falls into the account, covers the balance negative, and you reuse the limit.

And the situation gets even worse when spending that goes beyond your budget is unnecessary. Also assess whether you are paying for services you do not use and how to save more on your basic accounts (light and water).

The reduction of energy use is not only good for the pocket, but also for the environment.

5) Look for extra income

What do you do that can make extra money at the end of the month? Any skill you have can help increase your income and make your life easier in the organization of personal finances.

You can also detach from some clothes, objects and furniture and sell to friends or advertise in an e-commerce.

But beware: do not just count on the extra income to renegotiate debts , because you run the risk of not having enough money to pay the settlement on time if you do not get the necessary amount in the month.

Ideally, you should enjoy the “extra” money to add to your monthly budget or store the money for possible emergencies.

6) Exchange your debt

If you have one or more outstanding debts, you can seek a personal loan with lower interest and with installments that fit in your pocket to pay off your debts.

With the money in hand, you are more likely to get discounts on the debt renegotiation agreement. Another advantage is that you do not need to justify the reason for the personal loan application .

In addition to reducing the cost of debt, since you exchange multiple expensive debts for a single cheaper one, arranging finances becomes an easy task as you go on to be committed to paying only one debt in the month.

Do not waste more time: compare loans online and choose the credit that most suits your profile.

7) Pay bills on time

Organizing finances is simpler than it sounds: you just have to keep track of expenses and pay bills on time. If you are thinking of applying for a loan to pay off debts or are tightening the budget to pay your agreement, meeting the payments on the agreed date is paramount for not having to pay interest and unbalance the finances.

Choose a date close to paying your salary or you usually have a more positive balance if you are an entrepreneur .

To keep track of wages, create alerts on your mobile calendar. You can also schedule payments at the bank so you do not risk passing the date. Thus, it is easier to earn high interest rates 

8) Avoid new debts

It is no use to renegotiate a debt and not have money to pay new debts and enter a vicious circle, ie continue with outstanding bills.

At least while you are paying for an agreement or a personal loan, try to keep spending and avoid further debt. Avoid, mainly, new installments.

For a new purchase, if you do not have enough cash on hand to buy cash, consider saving an amount per month until you get the required balance.

At first it may seem a little complicated and even a super challenge, but you will quickly notice that keeping your finances balanced is the best way out for more peace of mind.

9) Make an emergency reservation

Have you ever stopped to think that if you had money set aside for emergencies , would the bills be up to date? The emergency reserve can help you avoid a default.

If you do not have the habit of saving some of your money, start doing this as soon as possible. That’s where the extra money comes in.

If you feel you can not save money from your salary, look for other sources to make this reserve so important to your financial health.

To make it easier, create a goal and gradually set aside money until you reach it. Ideally, you make a reservation of at least six times the amount of your monthly income, which would be the cost to keep up in a six month period. Be firm!

10) Read about Personal Finance

Staying inside the tips for organizing personal finances and how to grow financially can help change the way you approach financial problems and transform your life.

Here at Bom Pra Crédito you find special content that clarifies the main questions about personal finance and help you make the best decision.

Take advantage to read our complete guide on personal loan , to understand once and for all how this mode of credit works.

These materials may also interest you:

• 10 movies to learn about personal finance in an easy and relaxed way
• 10 Reasons Why You Choose Credit at Good Credit

Loan in Internet Sites

Is Loan on Internet Sites Safe?

Can I make secure websites on Internet sites? On what websites can I search for loans on the Internet? It is common to come across various ads on the Internet that offer personal loans in optimum terms. In most cases they are virtually irresistible, offer excellent rates and operations with or without restriction. But, one must be careful when hiring this type of service. Many reputed credit companies and financial fajutas take advantage of the fragility of the web to steal data, money and harm their lives to many people.

Do not be fooled by very easy offers. When you accept a business like these, type $ 30 thousand in 120 times with restriction, you run many risks. It is worth mentioning that there is no financial one that lends personal loan in 120 times, this does not exist. Many of these companies do not even exist, they use fake data, ask for advance payments, and then they’re gone!

To avoid this kind of problem, you should inform yourself and research a lot about the alleged company. Search about your credit history, your phone numbers and addresses. Access complaint sites and comments from other blogs and websites about referrals.

The safest way to get a personal loan over the internet is through your own bank account, no doubt. However if the problem with the debt to be paid with a new loan form in your bank, there are only remaining loan sites, there, redouble the care.

Through the internet in the loan sites it is possible to do the payroll online, besides being safe, the rates are low and the discount is on the paycheck or the check (payroll), the paycheck does not have any type of advance fee, if they ask anticipation of amounts in consigned loan, is blow.

Tip: Before signing any type of personal or payroll loan agreement, always consider whether this is the best alternative, consider other less predatory options such as making money working in the off hours.

Think about asking for an anticipation of your holiday or the thirteenth salary for your employer, you can also anticipate the refund of the Income Tax or put something of value in the pawn of the cashier before leaving looking for loan on Internet sites.