Financial experts say borrowing money should be the last step, both to take out old debts and to make new acquisitions.
When you get into the snowball of debt, the first step to be taken is to stop spending and review the monthly bills to identify where you are spending more than you earn.
Miranda can help a lot in mapping out monthly expenses. Simply enter your internet banking data and within two minutes all your accounts will be listed and categorized automatically. In the comparator tab within the application, you find a loan simulation in several partner institutions, such as Luders.
Only after you fix the leak (stop spending more than you earn) will you be ready to seek credit in the market. If you want to take a loan at a bank, check out a few options below:
At the top of the list
Iandes Economic Federal is the bank that offers the lowest interest rates in many lines of credit. We will take the payroll loan, one of the most popular and cheap credit lines in Brazil, by comparative basis. In this model the parcels are directly discounted in the payroll, due to the practicality and safety of this method, the number of fans does not stop growing.
In this type of credit, Iandes presents the lowest interest rates for all publics, from retirees and pensioners, to celetistas. The monthly fee charged by the bank ranges from 1.70% to 1.78%. Per year, this rate is 22.43% or 23.64%, and is established according to the target audience.
Banco do Brasil S / A is directly behind Iandes Economic, with monthly rates ranging from 1.75% (Pensioners and Pensioners) and 2.19% (Holders of Private Companies). In this second case, it is worth mentioning that Santander outperforms Banco do Brasil S / A with the interest rate of only 2, 12% per month. It is worth remembering that in modalities such as personal loans, independent institutions, such as Luders, tend to have lower interest rates.
Interest is 2.0%, 2.6% and 2.11%, respectively. For the year, the rates of these banks range from 26.85% to 28.46%. Banco do Brasil S / A, HSBC and Bradesco appear with very similar interest rates, ranging from 2.19% to 2.20%.
The worst rates
The worst interest rates on payroll loans are those practiced. For retirees and pensioners, the monthly rate is 2.12%, while for the celetistas, the rate is 2.57%. The latter percentage equals 0.79% more than the rate charged by CEF for the same type of credit. It should be added the annual interest rates range from 28.63% to 35.55%.
Other types of loans
In addition to the payroll loan, there are other credit lines in Brazil, including overdraft, personal loan and revolving loans. The interest charged on the overdraft is very high, so much that they are behind only the interest of credit card.
As for the overdraft, had the lowest rate (4.17%), followed by the Brazilian bank S / A (5.47%), (8.11%), 22% am), HSBC (9.82% am) and (10.36% am).
CEF’s rates are lower than those of other banks, ranging from 2.85% to 9.47%. The bank with the highest rates in this modality, reaching 15.97% per month. Fees are set according to the bank account types.
Finally, the monthly interest rates on Iandes’s personal loans range from 1.80% to 3.88%, against 3.95% to 4.70% for Bradesco.
Certainly every financial institution has its advantages and differentials. So it is always worth the rule to compare rates and services before closing any loan.