A personal loan can be a good option for you to deal with an emergency financial problem. This credit is intended for Individuals and the consumer requests the loan without the need to offer collateral. But there are some important factors to consider when you choose this type of personal loan.

In this article, we will talk about what a personal loan is, reasons to ask for credit, advantages and the impact on your credit score. 

How does a personal loan work?

Personal loans are a type of term loan. This means that you can take a fixed amount of money and pay it back with interest in monthly installments over the life of the loan - which usually ranges from 3 to 24 months at Click Cash. 

When taking out a loan it is important to keep an eye on the Total Effective Cost, known by the acronym CET. It is the factor that determines how much the loan will cost you, analyzing data such as the interest rate, IOF (Tax on Financial Operations) and the service.

After you pay the loan, your debt is paid off. If you need more money, you can request a new online loan.

How much money can I borrow? 

Loan amounts vary from lender to lender. Here at Click Cash you can request from R$ 1000 to R$ 10,000. 

The amount you qualify for is based on your creditworthiness (i.e. how confident the lenders are that you will repay them if they lend money).

Reasons to take out a personal loan 

Since you don't need to offer any guarantee to apply for the personal loan, there is no need to justify the reason you are applying for the credit. In addition, there are other reasons to take out a personal loan:  

  • To pay a debt 
  • Catching up on bills 
  • House repair 
  • Invest in your business 

I want to make a loan now! 

Managing a personal loan will bring less stress into your daily life. Earning financial discipline, regulating your budget and anticipating payments will also put you at an advantage to apply for a new personal loan. In case you have not yet made a credit simulation, at Click Cash, you can make loans from R$1000 to R$10,000 reais, with installment payments up to 24 times. Download the app available at Google Play Store.

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