With the promise of being a quick, easy and no-bureaucratic way, online personal loan is catching the attention of many people who urgently need money: just search the internet to find various loan options online.
But all this practicality must go along with security. With care, it is easy to prevent scams and get a reliable loan.
What is online loan?
Financial institution websites offer personal credit services online. And that’s one of the most practical, quick, and convenient ways to get a loan, since you can apply for credit without ever leaving home.
The main types of credits offered online are personal loan and credit card, but it is also possible to get other lines of credit like payroll loan , car financing and real estate .
An online loan works the same way as a personal loan: you contact the financial institution that offers credit through the website, fill in your personal information, ask for the amount you need and expect a return from the institution.
If you are in doubt of which loan is best for you check on the IQ360 platform which credit option is best suited for your profile.
The evaluation of the registration and approval is done in an agile and without bureaucracy, being a useful tool for those who need the money urgently. Once the loan is approved, the money is quickly transferred to the applicant’s account.
How does online loan work?
Any Brazilian citizen over the age of 18, individual checking account and proof of residence can make the loan process online, from request, sending documents to the approval.
All the loan application is done through the website itself, where it is also possible to make a loan simulation and choose the best form of payment. After sending the data and documents, the bank or financial chosen will do the credit analysis of the consumer before approving or not the online loan application.
For this analysis, some information is used to give a credit note for each person, which indicates the profile of the consumer and the risk of default. Based on this score, the credit will be approved or not, stipulating an interest rate.
One of the credit scores that can be used for evaluation is the Serasa Score, but some institutions formulate their own score or combine several methods.
If you want to look for the best loan option for your profile, check out the IQ 360 Loan Simulator below:
Fast and secure online loan
The demand for online loan grows in Brazil mainly because of the speed and ease of service. With access to a computer or even a smartphone, you can apply for loans without leaving your home or facing long lines of bank. However, not all sites are reliable and many apply scams that can profoundly affect your bank account.
To keep your money safe, check out a few tips that will ensure the credibility of the credit institution:
- Consult the company’s CNPJ
The CNPJ is a registry that certifies the existence of the company for the Brazilian government, that is, if it is properly regulated. To check the CNPJ, just consult the website of the Federal Revenue.
- Check site security certificate
Browsers like Chrome and Firefox provide a security token next to the URL box represented by a padlock. Secure portals also have an SSL seal, a global standard in security technology that appears in the home page footer.
- Search for customer reviews that have already used company services
A great quality indicator are complaint sites, such as the Complaint Here, and social networking pages. According to consumer criticism, you will have an idea whether the company in question is reliable or not.
- Find out more about the financial institution
Find the maximum information when choosing where to apply for the loan. While there are several serious and secure institutions, there are also those who want to take advantage of the urgency and despair of users.
Unlike traditional banks that require borrowing a bank account to open a current account, which makes the process more time-consuming and not available entirely online, online personal loan options make the money available quickly in the bank’s current account. contractor.
How to make an online loan
Here’s the step-by-step of an online loan:
- Loan Simulation
On many websites it is possible to find a loan simulation tool. By informing the value, term to pay and purpose of the loan, interest is calculated and one can search for the best options offered.
- Credit evaluation and document delivery
Once the institution is chosen, it is necessary to register online and send documents for credit analysis. Some sites carry out pre-approval, which consists of answering some questions and finding out what loan amount the institution can offer.
- Loan and money approval on account
If approved in the credit analysis and all documents are correct, the money is deposited directly into the account of the applicant. Depending on the institution this may take a few days, while others will provide within 24 hours.