How to find low interest personal loans?

See how you can get loans with low interest rates!

Thinking of borrowing some money but don’t know how to find low-interest personal loans? Worry no more! There are several options for you to take advantage of and still have access to special payment conditions.

Several financial institutions offer loan services, but not all of them offer affordable interest rates. But how can you get low rates? In this article, we’ll give you some tips to help!

How does the loan interest rate work?

The interest rate on a loan is the “cost” you pay for borrowing the money.

It’s a percentage that the bank or financial institution charges on the total amount you borrowed. Basically, in addition to paying back the money you borrowed, you pay “extra” for the service.

For example, if you borrow R$1,000 with an interest rate of 2% per month, this means that each month you will pay this 2% on top of the amount you still owe. At first, the interest is higher because the loan balance is bigger, but as you pay it off, it decreases.

So, before taking out a loan, it’s worth taking a look at the interest rate, comparing it with other options and calculating whether the installments will fit in your pocket.

How do I get a low-interest loan?

Getting a low-interest loan is not impossible, but it does require a bit of research and planning. The key is to understand the conditions and choose the best option for your profile.

Here are some tips!

• Do plenty of research: comparison is key! Use online simulators, talk to different banks and fintechs to see who offers the best conditions;
• Keep your name clean: a good financial history makes all the difference. If you have a clean name and pay your bills on time, the chances of getting lower interest rates increase;
• Choose the right type of loan: payroll loans, for example, tend to have lower interest rates because the payment is deducted directly from your paycheck;
• Offer collateral: loans with property or vehicle collateral generally have lower rates, as the risk to the institution is lower;
• Avoid emergencies: if you can, plan ahead. Asking for money in a hurry can lead you to accept any condition, including higher interest rates.

In the end, the most important thing is to calculate carefully and make sure that the installments will fit into your budget.

Where can I find a low-interest loan?

Finding a low-interest loan may seem challenging, but with the right strategy, it’s entirely possible. The key is to know your options, negotiate and take advantage of opportunities that fit your profile.

From traditional banks to modern fintechs, there are several alternatives that offer advantageous conditions, especially if you maintain a good financial history. For example:

1. Traditional banks: banks often offer special conditions for those who are already customers. It’s worth consulting your manager and asking about personalized rates;
2. Credit unions: if you are a member of a credit union, you may find more competitive rates than in conventional banks, as they work in a more collaborative way;
3. Fintechs: digital companies such as Nubank, Creditas and Geru often offer low-interest loans, especially if you have a good financial history;
4. Payroll loans: available to retirees, INSS pensioners and civil servants, this type of loan has lower interest rates because it is deducted directly from your salary or benefit;
5. Lines of credit with collateral: companies that offer credit with property or vehicle collateral usually have lower rates.
6. Government programs: some lines of credit, such as Pronampe for small businesses, have reduced interest rates and easier conditions.

The tip is to always compare options using simulators and pay attention to additional fees, such as IOF and administrative fees, to ensure you’re getting the best deal.

Getting a low-interest loan requires research, organization and good financial planning. Evaluating your options calmly, comparing rates and choosing a reliable institution are fundamental steps to getting a good deal.

Remember: the ideal is to look for conditions that fit your budget without compromising your finances in the long term. With the right tips, you can access the credit you need and still save money. So now it’s your turn to put these strategies into practice and make the best choice!

Escrito por

Juliana Raquel