At the moment you need money or when only money from a month or even years of work are not enough to fund certain dreams, there is the option of applying for a payday loan or a financing. But who can apply for funding?
Who can borrow at the bank: customers
The general rule for getting a payday loan or financing is that you must be a member of the bank or financial institution in order to have the payday loan or financing approved. In some cases, it is necessary to have a few months as a client of the bank or institution before you can have your payday loan or financing approved.
Who can take payroll payday loans: those who have fixed salary
The payday payday loan is a type of payday loan that is deducted directly from the payroll. In order to approve this payday loan, the person who applies for this type of payday loan must have a source of fixed income, a fixed salary, and proven in payslip. The specific payroll payday loan (for example, for retirees, beneficiaries of INSS, etc.) must also meet the specific conditions that the payday loan requests.
Basically, anyone can apply for a payday loan or financing, but not all will have the credit approved. (Photo: disclosure)
Who can get a payday loan from the bank: who is at the right age
Minors can not get payday loans or financing. but their parents or guardians can get payday loans for them, for example, student exchanges, study funding, etc.
At the other extreme, those over 65 may find it difficult to obtain payday loans that are not entered. When they do, it usually has higher interest rates or a shorter repayment term than a traditional payday loan, because of the increased risk of lending or lending to the elderly.
The applicant for the payday loan must be free from any type of credit constraint. This means being in full account and not having the name registered in the SPC or SERASA due to unpaid debts. This is popularly known as “dirty name”. Those who have a dirty name will not have a payday loan or financing approved because it is a client that is at risk of default, that is, of not paying the installments of the payday loan / financing.
Can get payday loans and financing who can give guarantees
Guarantees for a payday loan include guarantors, real estate, vehicles, jewelry, attachable property, in general. These guarantees give a bank or financial institution greater security to confirm the payday loan and even to reduce interest rates, loosening up to the limitations and conditions for a payday loan or financing to come to you.
Can get payday loans who have a good relationship with the bank or financial institution
In many cases, you do not need to have any collateral or proof of income to get a payday loan. Just have a good relationship with a bank or financial institution and you will secure the payday loan or financing. A good relationship means using the bank’s credit card frequently, as well as making financial transactions in the current account monthly to prove that you have the resources to move.
You can get a payday loan that has a clear purpose for the money and good financial planning
It is not anyone who can get a payday loan. Firstly because really, it is necessary to give the guarantees to the bank or financial institution. Second, because it takes those who get a payday loan to have a great financial planning to not get into debt or not fall into the trap of taking a new payday loan because it is “easy” money and get more debt.
So let’s be clear: payday loans and financing are above all for those who know how to handle their own money very well, plan the use of resources, and wisely use the money in the short, medium, and long term.
Have you taken out a payday loan or financing? How did you get this payday loan or financing? Was difficult?