Despite the fall in the Selic rate, a reference for the cost of credit, the interest rate for loans remains high. The high risk of default, according to the banks’ assessment, contributions to keep interest rates at high levels.
Knowing this scenario, in order not to make a bad deal, it is important to know the different options available in the market.
Get ahead with the tips we have prepared to help you find the lowest rates:


Research credit lines

Research credit lines

The fees charged can vary widely, depending on the credit line contracted. Making the right choice can be a way to pay less. Therefore, it is best to do a lot of research.
Payroll loans, for example, are an option that usually comes up against personal loans. Because it offers greater guarantees to financial institutions – since the installments are discounted directly from the payroll – the payroll loan has a lower interest rate.

However, the payroll is not always a possible alternative. INSS retirees and pensioners, public servants and employees of companies that have an agreement with the banks that provide the service can hire the credit line. 


Guarantee and reduce the loan interest rate

Guarantee and reduce the loan interest rate

If the security factor is decisive for setting interest rates, offering something as a guarantee may be an option for those seeking more affordable rates.
Currently, the types of loan where goods such as real estate, cars and even jewelry are offered as collateral are gaining ground.
However, it is necessary to consider the risk of losing the asset, in case of late payment of the debt.
For this reason, the option, which can be negotiated directly with the bank, is more suitable for those who have a financial plan solid enough to ensure that payments are always made on time.


Look for the banks with the lowest rates

lowest rates

It is not only in relation to the credit line that there is interest variation. If you really want to find the lowest rates, don’t settle for just your bank’s proposal. Do a lot of research before making your choice.
Of course, depending on your relationship with the bank, it is possible to get a more favorable loan interest rate. Even so, the chances of finding even better conditions in the competition are great.
Also remember that if you receive a current account, it is almost always possible to take your payment to other banks. If that is the case, the advantages offered will be even greater.


Consider the purpose of the loan

Consider the purpose of the loan

For those who want to hire a loan for specific purposes, such as buying a car or a property, it is possible to find cheaper alternatives.
Credit modalities aimed directly at the acquisition of vehicles and other goods may have more beneficial conditions than personal loans.
On the Cream Bank website , you can compare the different rates applied by banks, depending on the type and purpose of the loan,


Trade directly

credit loans

Have you researched the different credit options available and compared the loan interest rates practiced by the different banks? Wait a little longer to hit the hammer, as it is still possible to get better conditions.
Based on the results of your research, it is time to start trading. Present your numbers and payment guarantees, and be sure to take advantage of competitive offers to achieve even greater reductions.
It is worth taking your financial life seriously and studying hard before hiring a credit operation. As we have seen, it is possible to find lower and more advantageous loan interest rates.

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