Those who do not own a property, but have a car, can enjoy the benefits of a loan with a vehicle guarantee , or auto equity .
In this case, the contractor puts the car as payment guarantee to access a loan line with lower rates. The granting of credit for a car secured loan is very similar to that for a property – and the payment term can reach up to 60 months.
In this operation, it is necessary to carry out an inspection of the vehicle, usually carried out by a third party company, which will verify the conditions of your car and its value. The amount to be released is subject to a credit analysis.
At Creditas, the rate for those who offer the vehicle as payment guarantee starts at 1.49% per month .
What is the interest rate on the payroll loan?
It is not uncommon for INSS retirees and pensioners to opt for payroll loans when they need to borrow money. What a lot of people don’t know, however, is that this modality is also available to employees of private companies , hired under the CLT regime.
In the private payroll loan, the installments are automatically deducted from the salary. For this reason, the risk of default is also reduced, which significantly lowers the interest rate.
Creditas offers payroll loans at rates starting at 1.25% per month.
See which bank has the lowest interest rate for a loan
There is no other way: to find out which financial institution offers the best conditions, you need to research and compare the rates available in the market.
In general, a bank does not always have the lowest rates for all operations. This is because each transaction is subject to different credit policies and, over time, rates may vary for various reasons.
To help you in this process, we have created the topics below with the interest rates of the main modalities according to the Central Bank .
Which bank has the lowest interest rate for a personal loan in 2022?
It is true that each institution has its own rates and specific rules for granting loans, but some seem more advantageous than others.
Fintechs have lower fees than traditional banks?
In addition to traditional banks, lines of credit are available from other financial institutions, such as digital banks, credit unions and lending fintechs . To find the best rates you need to consider them during your search.
They will only sometimes have the lowest rates, so everything we explain throughout the article also applies to fintechs. Try to understand interest rates, the CET and all the information needed to take on healthy credit.
And as you can see above, to find the best loan rates, you need to consider the rates of institutions like Creditas.
After knowing different types of credit and understanding how the interest rates practiced in different financial institutions work, you are already more prepared to make the best decision when you need a loan.
If the content in this article helped you understand Best bank has the lowest interest rate, know that Exponential has everything you need to improve your financial life.
