If you’ve come this far, you’re probably considering making a personal loan to hit your financial situation or make some investment.
However, there are different types of personal loans, and to find the best one for you, you need to take the time to understand how they work.
One of the main options at that time is the secured loan .
Loan with guarantee vs. unsecured loan
The secured loan happens when some asset is provided to the financial institution as insurance.
Generally, real estate or vehicles that are in the name of the person requesting the loan are accepted as collateral .
It is worth noting that the presentation of the asset as collateral does not ensure the approval of the loan – other factors are also evaluated, such as your credit score.
The unsecured loan is the one granted based only on your credit assessment, without having to present any asset as insurance.
What are the Benefits of Secured Loan?
Every loan carries a risk to the granting institution.
It is the risk that determines the amount that will be granted and the rate of interest that you will pay. In theory, the higher the risk, the higher the interest.
The presentation of a good as collateral to the institution, therefore, serves as a security to that of which will receive the money back – since, in case the applicant is defaulted, the asset can be taken as payment of the loan.
The main advantage of the loan as collateral , therefore, is the possibility of getting a larger amount with lower interest rates.
It will also offer longer repayment terms, over 12 months, which may be interesting for those looking to dilute the loan installments over a longer period.
When to simulate a secured loan
The secured loan and the unsecured loan are products that are intended for different profiles.
The first option is geared toward people who need larger amounts, want to commit to paying for a longer period and are willing to use their assets as a guarantee with the risk of losing them in the event of default.
Also, it is important that you do not intend to sell the asset presented as collateral for the duration of the loan, as it will remain alienated.
Unsecured loans, however, serve those who need money and do not own a property on their behalf, or are unwilling to use their property as collateral. The values of loans and interest rates vary greatly according to the financial institution and its financial situation.
The two modalities can be requested by the internet. However, because the unsecured loan only requires personal information, such as proof of residence and bank account, the process is much more agile.
Does loan providers make a loan with a guarantee?
providers does loan guarantee, only without. We offer personal loans made all over the internet, with a value between R $ 200 to R $ 3000 and payment in up to 12 months.
You can do your simulation directly on our website. After the simulation, you should carefully read the entire agreement and accept it through the checkbox inside the site.
The answer comes in a few minutes. If we need to better evaluate some information, we will contact you so that your credit can be approved. And if approved, you will receive the amount in your bank account within a few hours.
Unsecured loan from loan providers
providers offers low-value personal loans to help you through times of financial hardship.
If you are looking for an unsecured personal loan, you can simply fill out your application form online after doing your online simulation with our calculator.
Do your simulation and ask for your loan now!