Faced with a large number of options available on the market, the task of finding the most affordable credit option is not the easiest. To have access to cheap credit, you need to know well the existing modalities and their peculiarities.

Check out this article for some cheap credit options.


1. Credit loan

Credit loan

To understand why the loan is assigned one of the best options in the market, must have science that the interest rate applied by financial institutions directly proportionality risk of operate O. In the case of payroll loans, benefits are directly discounted from payroll (ie salary) )))) or retirement), which exponentially increases the security of banks, reducing interest rates.

The big problem with the payroll-deductible loan line is that it is not accessible to everyone: it is the most common choice among INSS withdrawals and pensioners and public servants. In addition to these audiences, this operation is made available only to employees of bank-affiliated companies (usually large companies), which leaves many people out.

Despite the lower rates, it is interesting to research the different values ​​applied by banks, paying attention to the Total Effective Cost which can guarantee even greater savings.


2. Online loan companies

Online loan companies

Online lending companies, such as JustLend, Meru and Legend Lend, are gaining more market space by offering lower interest rates because they do not need to maintain a large physical and personal structure, such as with Banks.

Credit analysis is usually quite thorough, which decreases risk (and hence interest). Nevertheless, the bureaucracy for money release tends to be smaller and in some cases there is no extra charge on the loan. Within GuiaBayment, in the comparator tab, you can simulate borrowing from several partner institutions, a good way to start your search and close a trade right there if any offers what you are looking for.


3. Anticipation of the 13th salary

As in the case of payroll loans, the 13th advance offers lower rates to guarantee it offers to banks. Here, the amount of the loan will be discounted once, on the credit date of the 13th salary, regardless of whether the company makes the payment or not.

There is a significant disadvantage in this mode, as the discount occurs precisely at a time when spending tends to increase with Christmas and year-end parties. In addition, the discount commitments for the financial reserve for the payment of start-of-year expenses, such as IPVA and IPIP.


4. Please

money loan

For those who do not know, the possibility of pawn jewelry still exists. The pledge can offer very friendly interest rates, as the bank can sell the jewelry as collateral in the event of default. Currently in Brazil the pledge is offered exclusively by Caixa.


5. Adjustment of Income Tax

Income Tax

Looking forward to the amount of the income tax refund is a good way to get cheap credit, as the refund deposit in the current account itself acts as a guarantee. Due to this feature, the operation has lower interest rates than other options available in the market.

However, one must be aware of any factors that may change the amount to be refunded, such as the IRS’s fine mesh. Depending on the case, the refund may be reduced or even postponed to the following year, leaving the taxpayer unable to repay the loan.

Cheap credit options usually go far from the credit card and overdraft which in turn are easier to use. Knowing the available operations, you can choose the most viable options for you and make the best deal.