Loans or Credit

Each loan is in some sense specific, because it is targeted to a particular thing, and also because of the way it is drawn. The wrong choice of loan can take away a lot of money unnecessarily.

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Consumer loans

It is the most commonly used loan offered by each bank. These loans are further divided into purpose and non-purpose loans. For purpose loans, the intended use of the funds must always be stated and documented at a later date. Non-purpose loans do not require this information to be provided and are more widely used. These loans do not require the personal property to be guaranteed, and the process tends to be very quick. The disadvantage, however, is the high interest rate.

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Another very popular type of loan, in which banks compete to see who can offer better terms. Mortgages are special-purpose loans that, in most cases, can only be used to acquire real estate, with a lien placed on the property immediately in the event of nonpayment. They have the advantage of low interest rates and are guaranteed at a fixed rate for several years.


This is a specific type of loan that provides an opportunity to overdraw funds in your bank account, known as “running negative”. You do not have to tell anyone what you need the money for, and no one questions it. The condition, however, is that you must “run in the black” again at least once a year. However, all payments credited to the account first cover the loan , and what remains is the real money in the account. The downside of this convenience is also the high interest rate.

Building Association Loans

This is a loan provided by building societies to finance housing-related needs. This type of loan offers very favorable interest rates, long repayment terms, and low monthly repayments.

Consolidation Loans[53]

One of the youngest credit options. You can consolidate most or all of your loans into one, and set the repayment period and amount to suit you. It allows you to save a lot of money on interest rates and various fees.