What type of Personal Credit do you choose, with Fixed, Flexible or Adjustable installment? When requesting a Personal Credit, the contractor will be faced with certain conditions and situations in the operation that must be decided immediately or if it is a disciplined person, with some advance. Factors such as the amount that will be requested, the term of the Personal Credit, value of the installments that will be paid monthly, in some cases the institution foresees the contracting of Loan Insurance – to do or not to do? And, choose how to collect Personal, Fixed, Flexible or Adjustable installments.
Personal Loans with Fixed installment
In Personal Loans with Fixed installment, the loan proceeds are paid a portion of each time always in the same amount until the term runs out. Some institutions allow the early repayment of installments, part of the balance due or the total discharge after a certain time established in contract.
Why to Hire a Personal Credit? The answer seems obvious, but only borrow money at interest who is really in need of resources to carry out some project, dream of consumption, discharge of debts, vocational course or even a vacation trip with the family. One advantage of Personal Loan is the ease in obtaining, moreover, most of the lines and modality available are not guaranteed, ie the contractor does not need to give any collateral to get the money borrowed in the transaction.
The Personal Loan offered by banks and lending companies are excellent alternatives for those who do not have money at hand. For a moment taking credit can take some financial worry, but it depends on who requested it, if the transaction was carried out without any planning on how the debt will affect the budget, certainly over time the Personal Loan becomes a burden , and very heavy by the way.
With fixed interest rate credit operations, the borrower does not have to worry about what will be the value of the next monthly installment, this only happens if the Personal Credit granted with flexible or adjustable installments, then, every month the value changes accordingly with some indices determined in the contract at the time of the concession.
1 -) Fixed Term : The duration of the operation can last from 1 (one) to 48 months. The longer the Personal Loan period, the lower the value of the installments, but the interest rates are higher.
2) Fixed installments: The payment of the installments (installments) has a fixed value, that is, each month the value is the same, not nuda until the contract ends, in addition, it is possible to advance installments to decrease the interest rate and the deadline.
3 -) Resettable Installments : In this case the installments of the installments are readjusted monthly, each month the amount of the installment is different, this type of operation has attractive interest rates is not advisable.
4 -) Extras Services : “Lenders Insurance”, “Loan Insurance” or other forms of insurance are imposed or requested when granting certain types of Personal Loans , when not obliged, it is up to the contractor to decide whether or not this protection service.
It is worth remembering that the release of money through Personal Credit is subject there are several factors that involve the approval process and credit analysis performed by institutions, and sometimes failure can occur.