This article will tell you how much they (the institutions) can lend you and the requirements to access this cash loan offered by agencies or financial institutions.
Do you need money but don’t know where to get a loan? Fortunately, today many financial institutions and agencies can be a viable option, as they offer cash loans, known as “cash withdrawals”. If you are interested in knowing how to apply for one, find out here.
The first thing is to have a debit card and have an account in national banks, such as Banco do Brasil, Caixa Econômica Federal, Bradesco, among others, which are financial institutions that grant loans to customers and by already having a card in one of the branches, it will facilitate your process.
The requirements are:
- Be over 18 years old.
- Have Brazilian nationality.
- Have a personal bank account.
- Copy of voter credential.
- Be a user of national banks (Banco do Brasil, Caixa, Itaú, Bradesco…) when requesting a loan.
How much do they lend you?
Anyone can access loans through these platforms, as long as they meet the indicated requirements. The amount will vary because each financial institution will have its own evaluation criteria, as well as different amounts available, but they can range from 20,000 to 50,000 reais.
The interest rate varies depending on the amount of the loan and the time it takes for the person to pay it off, but it is between 1.10 and 1.30%, while the average annual cost is 3.865% plus VAT.
It is important to know that if you take out a loan you need to be well informed beforehand, as there are options where you can pay off the debt early and without penalty, as well as some other advantages that may be available.
How are payments made?
Simply go to the financial institution's official website and check your balance status. You can print the screen from your computer or cell phone and print the image for your reference. Or, it will be sent to you via post.
This document should display a barcode with which you can make the payment, which is personalized according to the loan you requested.
If you want to cancel the credit or pay it in advance, just go to a branch with the printed barcode, you should receive an email with proof of payment.
Payments may be reflected in some cases up to 24 hours later, but the receipt can serve as a guarantee of payment for any clarification.