Was that loan you needed not approved? Understand what changes are affecting the offer of personal credit in Brazil and how to take advantage of the opportunities of that moment.
If you recently needed a personal loan to organize your financial life, you realized that it is not easy to have credit available in the market, right? In addition, it is increasingly difficult to get approved by the credit analysis processes of the main banks in our country.
In 2016, for the first time in over 20 years, the stock of credit in Brazil shrank when compared to the previous year. What does that mean? It means that we run the risk that by 2017 this shrinkage will continue to occur and thus the supply of personal loans and other traditional credit categories may be affected. Look:
That means that there are fewer people in debt, and therefore there is more savings or more money circulating in the economy, right? Wrong. And this is not true for a number of reasons. In a country with Brazil, the natural thing would be that the stock of credit continued to grow for a few more years in a row. Understand why this is not what has been happening.
There are 3 main reasons that explain this decline in credit stock. Follow:
The first of these motivations is the unemployment rate, which, in addition to being very high, causes a situation of constant search for replacement in the market. However, we know that this is a process that does not happen overnight. Often, in fact, it takes longer than planned. When this happens, people lose the ability to honor their financial commitments, including paying the installments of their loans already hired.
Record in the number of negatives
The second reason is that the number of people with restrictions on credit protection reached record levels in recent years, surpassing the mark of 60 million people. In general, banks do not offer loans to people who have restrictions. Institutions that lend to negatives charge higher rates than the market average because of the borrower’s risk profile.
Selic rate maintenance
Finally, the Central Bank (in our view, in a correct decision) has greatly increased the basic interest rate of the economy (Selic) to contain inflation in recent years. This bitter but necessary remedy has raised the cost of lending operations significantly to households, leading to a contraction in demand. Only more recently has the Selic started a downward trajectory. However, the effects of this movement take some time until they are reflected in the rates used on a day-to-day basis.
Technology in favor of credit supply
Despite the unfavorable scenario, we must know that there are alternatives to overcome this situation. Several technology companies, the so-called fintechs , such as REBEL, have worked in partnership with financial institutions to facilitate the process of granting credit online. This modality allows greater convenience for those who need a personal loan and can not waste time. In addition to more agile processes, online lending platforms enable lower interest offers that best fit the needs of each customer profile. Thus, adding new technology solutions to the finance sector, fintechs represent an important opportunity for the resumption of growth of the Brazilian economy.
With the retraction of “traditional” credit, the online loan modalities have been gaining relevance in the country and more and more we have seen an increase in the number of clients adhering to this category of services. See below for tips on how to increase your chances of getting a loan.
5 Tips To Increase Your Chances Of Getting Your Personal Loan Online Approved
1. Know if your name was reported
Check if you have a restriction on credit protection agencies, especially Serasa, SPC and BoaVista. Having restrictions attached to your name can make it unfeasible, or at least make your credit very expensive. Access to this information is free and may even be obtained online.
2. Enter your data correctly
Do not fill out information that is not true during your loan application. In the vast majority of cases there is how to verify that the information is consistent. Unverifiable data will only make it difficult to approve proposals.
3. Choose the type of loan that is right for you
Understand the various types of loans that exist in the market and the costs involved in each of them. You can save a lot by performing the simple task of choosing the mode that best suits your needs.
The. Checked loan ;
B. Loan with real estate guarantee ;
W. Loan with vehicle guarantee;
d. Unsecured Personal Loan ;
f. Revolving credit card;
g. Loan for negativado;
4. Make a strategy to pay your bills
Know your level of indebtedness based on your income and other financial commitments. You need to understand your current financial standing. The more indebted, the greater the chances of disapproval or having a very high interest rate on the loan. So it is important to understand that taking a loan can be a smarter strategy to pay your bills. This is because debt interest on credit cards or the use of overdraft can be (and usually are) much higher than that of an online personal loan for example. Have healthy debts.
5. Keep an eye on the company’s reputation