A personal loan, also called a personal credit, is the release of a sum of money to an individual. Several banks, cooperatives, and other financial institutions offer this type of loan.
One of the main characteristics of this type of service is its freedom of use. The client does not need to explain for what purpose he or she intends to borrow the money, unlike what happens with financing, for example.
After the credit is released, the person has a period to pay back this amount with interest. In this way, the financial institution makes a profit from the operation.
| Positive Points | Negative Points |
|---|---|
| Responses about the loan are usually very fast | The minimum age to apply is 18 years old |
| The application is made quickly through an online form | You must have a bank account to receive the money |
A personal loan is a negotiation between the individual and the financial institution. In short, you come to the bank or the cooperative and ask to borrow money.
There will be a credit analysis, that is, they will check your consumption history and your income to see if you are able to assume the debt. If so, the loan is authorized.
Although you will receive the amount in cash, you can pay it back in installments. Then comes the time to negotiate the payment conditions, defining the amount and the number of installments.
It is worth remembering that the final sum will be higher than the money originally received, due to the interest charged by the institution. Try to calculate exactly the amount you need to reach your goal. Thus, there is no risk of contracting a personal loan much more expensive than necessary.
The reason for this is simple: the higher the starting amount, the more interest you will pay in the long run, which ends up making the deal very hard on your pocket.
It is important to know in advance what fees are charged by the financial institution. This is because they vary a lot between banks and credit unions.
| Benefits | |
|---|---|
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Customer Security
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It has one of the most recognized customer security models in the country |
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Approval
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It has one of the highest approval rates in the segment |
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Interest rates
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Interest rates depend on the lender |
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No hidden fees
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No hidden fees for applying for the loan |
It is also wise to simulate different scenarios for the loan. The reason is that different amounts of installments yield different interest rates. So get to know a little more about the Nat West Personal Loan, one of the most requested in the market.
Values
The Nat West personal loan amounts vary from US$ 1,000 to US$ 50,000, one of the largest loan amounts in the country. In addition, the institution also has one of the longest loan repayment terms, which can be up to 96 months. So, apply for your loan by clicking on the button.
I Want My LoanBank account
To apply for a Nat West Personal Loan you must have a bank account with the institution at least 3 months prior to the date of the loan application.
Request
The application for the Nat West Personal Loan can be made online and in person. Either application is quick and simplified. With that learn a little more about the loan by clicking on the button below.
I Want My Loan
