When you choose to take out a personal loan, the first question that arises is: How to choose the best type of loan?
So that you can have a little more clarity about the types of loans that exist and which one best fits your situation, we have made a list to help you.
– Personal loan: This is the simplest loan, which can be requested from any bank or financial institution, by anyone, as long as you meet the criteria required by them.
– Payroll loan: In the case of a loan, there is a specific requirement. To be able to apply for this loan, you must be retired, a civil servant or a pensioner. On the other hand, it offers several facilities for those who fit this profile.
– Special check: In this case, if you have a special check released by your bank, it will be available in your account, but just because this money is at your disposal does not mean it is yours, so be careful, as the interest rates are usually very high.
– Real estate or car loan: In this case, it is also a type of loan that is relatively easy to access, because to apply for it you necessarily need to have an asset, it could be a car or a property, but it will be your guarantee, so be very careful, because if you do not pay your loan, the bank can take away your asset.
– Loan to purchase goods: a different option from the one we mentioned previously, but in this case you must consider the value of the asset, its useful life, and whether the amount you will pay in interest will compensate for borrowing money to buy it.
If you have learned about these types of loans and have chosen the one that best fits your needs, another very important step is to choose which bank or financial institution you will hire this service from, as there are many companies that are not entirely legal, and you could end up in trouble.