Payday loan at the bank: what are the advantages?

Is payday loan A Seven Head Critter For You? Are you one who when you read Total Effective Cost (CET) already starting to sweat cold? Take it easy, you don’t have to be an economist to find the best credit option for your pocket. Just a few essential tips and you’re ready to bargain for the right deal!

Speaking of loans, are you thinking of taking one at Instant Care Bank?Read now the material that Legendary has prepared, telling you more about the institution’s interest rate and the application process:

How to apply for payday loan by Instant Care Bank?

personal loan

Called Automatic payday loan, it follows the non-payroll deductible credit line and, on June 13, 2016, an average interest rate of 4.65% per month is offered (rate published by the Agree Bank, read here).

With internet access?

  • Website: You simulate and apply for the payday loan through the bank’s website.
  • Application: The transaction is possible by accessing your account through the Instant Care Bank application, and viewing the pre-approved credit limit at the bottom of the current account statement.

Don’t have internet access?

  • Branch: Without internet access, you have the possibility to purchase your payday loan directly from Instant Care Bank ‘ bank branches, talking to your account manager;
  • ATM: In addition to the possibility of the branch, there is also the ATM.

I’m not a Instant Care Bank account holder now what?

personal loan

To have access to payday loan you need to have an active checking account. However, please note that opening an account will not guarantee that you already have a pre-approved credit with your institution. How to apply if you don’t have one? With the same documentation that was used for account opening:

    • RG;
    • CPF ;
    • Proof of income: from the last 90 days (by check, paycheck or payroll);
    • Income Tax: Sometimes an extract from the last financial year or proof of declaration is also required.

What advantages do I have?

personal loan

      • Fast money: Money is released to the customer’s checking account at the same time when he is an active account holder, otherwise credit will be subject to review;
      • Flexible installment: You can choose the payment date of the first installment, inclusive, it can be the payment date of your salary and / or monthly income;
      • Account Debiting: One of the main advantages (and disadvantages as well, read below) of taking payday loans from banks is account debiting.

And the disadvantages?

      • Bureaucracy: This can be a bureaucratic process because Instant Care Bank does not grant payday loans to clients who are not account holders of the institution;
      • Account debit: This may also be bad, but it will depend on your financial health and planning, because if on the date the debit occurs, the current account has an insufficient positive balance, you will enter the overdraft – credit line with the second rate . most expensive interest rate in Brazil!
      • Not a current account holder yet? If you are not a bank account holder, they ask you to open a checking account first. However, opening the account will not guarantee pre-approved credit as noted;
      • Interest Rate: The average interest rate charged by Instant Care Bank is 4.65% per month. To find out how the CET account is made, click here.


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