Personal loan without warranty: learn about this modality

Unsecured personal loan

When it comes to obtaining credit, there are many possibilities available to the consumer. 

The best known is the unsecured personal loan, offered by hundreds of banks, financial institutions and fintechs throughout Brazil.

What is an unsecured loan?

In this type of credit granting, financial institutions analyze the applicant's CPF, taking into account certain risk factors, and determine the conditions available for that request.

The main feature of an unsecured loan is that you don't need to provide collateral, such as a property or vehicle, for payment. You also don't need to justify how you'll use the money, providing more flexibility.

However, this means that the fees applied will be higher and the payment terms may be less flexible than in other modalities. 

To assess the conditions under which a loan will be granted, banks take into account information such as the borrower's source of income, income stability, and payment history. 

Is it worth hiring?

Debt isn't always an easy issue to resolve, is it? Knowing this, many people end up resorting to a personal loan to pay it off. 

Before applying for any loan, it is important to assess the real need for the operation and your ability to repay the amount.

If you have a good credit and payment history, as well as a stable source of income, an unsecured personal loan may be a good option for you.

It's important to do thorough research and carefully evaluate the conditions available for your profile and whether the loan installments fit within your monthly budget.

Pay particular attention to market interest rates, which are quite flexible for this type of loan. They range from 1.5% per month to 22% per month. 

How to apply for an unsecured personal loan?

The process for obtaining an unsecured personal loan varies depending on the institution you are applying for. 

However, generally, you will need to have the documents listed below: 

• CPF;
• Official document with photo: ID, CNH (National Driver's License), professional organization card (OAB, CRM, CREA, FENAJ, among others), work card or passport;
• Proof of residence: water, gas, electricity, or telephone bill (mobile or landline). It's important that this is a recent document;
• Proof of income: income tax return, pay stub, bank statement, statements sent by the INSS, pay slip and work card.

It is important to remember that each institution can establish its own application criteria and list of documents required for the loan application.