Loans: See the best options and banks

Need a financial boost to fulfill a dream, pay off debts, or deal with an emergency? A personal loan could be the ideal solution.

However, with so many options on the market, the choice can seem complex. To make the best decision, it is essential to research and understand the conditions offered.

This comprehensive guide was created to help you navigate the world of credit, explaining the most important factors to consider and presenting some of the best banks to apply for a loan safely and with fair terms.

What to Consider Before Taking Out a Loan?

Before signing any contract, it's crucial to look beyond the advertising. First, analyzing certain indicators can make a huge difference in the final cost of your loan.

1. Total Effective Cost (TEC): The True Loan Rate Many people focus only on the monthly interest rate, but the most important indicator is the... Total Effective Cost (TEC). It includes not only interest, but also all other fees, insurance, and charges embedded in the transaction. Therefore, when comparing offers from different institutions, always use the CET (Total Effective Cost) as a basis for comparison to determine which is, in fact, the cheapest.

2. Payment Terms and Installment Amount Another key point is to analyze the repayment term. Longer terms generally result in smaller monthly installments, which may seem attractive. However, the longer the term, the more interest you will pay over time, increasing the total cost of the loan. Ideally, you should find a balance: an installment that fits your monthly budget, but with the shortest possible term.

3. Financial Planning Above all, a loan should be a solution, not a new problem. Before taking out a loan, organize your finances and make sure the monthly payment won't compromise your budget. The golden rule is: plan, simulate, and only then take out the loan.

The Best Banks and Fintechs for Personal Loans

The financial market is becoming increasingly competitive, which is great for consumers. Digital banks and fintechs have brought more agility and attractive rates, forcing traditional banks to also improve their offerings. Below, we list some of the best options.

Digital Banks and Fintechs (Focus on Agility and Competitive Rates):

• Nubank: Known for its transparency and ease of use, Nubank offers personal loans directly through its app, with quick simulation and contracting processes. Rates are personalized according to the customer's profile, and the money is usually deposited into the account instantly.
  • Link: Nubank Loan
• Inter Bank: Inter stands out for offering a complete ecosystem of financial services. Personal loans are one of the options, with completely digital processes. In addition, it offers other modalities, such as private payroll loans and home equity loans.
  • Link: Inter Bank Loan
• PicPay (formerly Geru): PicPay has established itself as a strong credit platform, especially after incorporating the fintech Geru. The platform allows users to quickly simulate and contract loans, with fast credit analysis and competitive rates.
  • Link: PicPay Loan

Traditional Banks (Focus on Security and Offers for Account Holders):

• Itaú Unibanco: One of the largest banks in the country, Itaú offers several personal credit lines. Account holders usually have access to pre-approved limits and more advantageous conditions. Applications can be made through the app, internet banking, or at branches.
  • Link: Itaú Loan
• Bradesco: Like Itaú, Bradesco has a robust credit portfolio. Customers with a good relationship with the bank can obtain lower interest rates and flexible terms. Simulations are also available through digital channels.
  • Link: Bradesco Personal Loan
• Santander: Santander also stands out for its variety of credit options, which can be tailored to the customer's needs. Credit analysis is usually quick, especially for those who already have an account with the bank.
  • Link: Santander Personal Loan

Therefore

In short, taking out a loan is an important step that requires research and planning. First, understand your real needs and ability to repay. Then, use the links and tips in this guide to simulate and compare conditions at different institutions, always focusing on the APR (Annual Percentage Rate).

Remember that the best option will always be the one that offers the lowest total cost and whose installments fit comfortably into your financial plan. With information and care, you can use credit to your advantage to achieve your goals.