Understand why applying for personal loans online to people around you gives you access to credit more simply and at lower interest rates. What is your first thought when deciding to apply for a personal loan from the bank? If you don’t have a pre-approved credit line (who has?), You soon think of queues to talk to the manager, bureaucracy, big fees you’ll need to pay and all of which can result in a no. Am I right?
Therefore, applying for a loan online among people can be something much more advantageous. And here I share 10 reasons why you should borrow from a friend before considering going to the bank.
1 – Lower interest rates
The average rate of a personal loan is around 7% * per month, credit card and overdraft are up to 14% per month. For example, if you offer your friend at 3.5% rate, it would be much more beneficial than going to the bank.
2 – It’s good for those looking for better investments.
If your friend has money invested in common financial applications such as CDB or savings, he knows that these investments yield little, up to 0.8% * per month. Offering him a rate of 3.5 percent a month, for example, would be four times better than other investments. And remember, you would pay less interest than the bank.
3 – Loan less bureaucratic online
Nowadays it’s possible to do everything on the internet and think about going to a place, waiting to be attended to and gathering “documents” can give chills. With an online lending platform, your friend is closer to you and everything can be solved more easily.
4 – Flexibility to apply for a loan
Sometimes the pre-approved credit limit we have available is not enough to meet our need. So resorting to a friend may be simpler to meet the credit demand you need.
5 – Financial Growth for All
When you borrow money from a friend or relative, the amount you borrow plus the interest returns to that person who is close to you. That is, instead of a bank profiting, it is the people around you who profit and you have your credit demand met.
6 – Faster available money
Your friend is on your whatsapp contact list, your bank manager is not. Sometimes the need to apply for a loan comes with some urgency and this time may be best met by someone who has this financial availability.
7 – Dirty name is not so limiting
Obviously, you should be very clear with your friend and talk about all the reasons for your need for personal credit and how you intend to pay. For a bank, numbers are more important, so even if you want credit to clear your name, the bank will only see that you are negative.
8 – The bank doesn’t know you
For a bank, the reasons for the credit request may not come into play. Understanding the need for credit and the reasons for lending you is critical to your friend. This connection is very difficult to have with a bank.
9 – Confidence Gain
They talk a lot that lending money to a friend can be a factor in losing friendship. However, this only happens if done the wrong way. If you do it right, with financial planning and control, it builds trust between you.
10 – He won’t try to sell you what you don’t want
It is very common when we arrive at a bank manager with some credit request to be bombarded by various services such as insurance, securities, private pension, among other offers that are neither useful nor financially advantageous. Unfortunately, this is a practice seen in many banks.
And now, do you agree that it is more advantageous to borrow from a friend?
Our app is the easiest, fastest and safest way to apply for a loan from a friend. You submit your request, already containing the interest that fits in your pocket, amount and amount of installments and payment day.
Your friend receives your loan application as and we show him that your application may be more profitable than other types of investments . We also took all of his concern out of charging, as it’s Mutual that does that part. If it accepts, the installment slips are generated and you receive all the money in your account. You get less bureaucracy and increase your chances of getting your loan and earning your friend who gets all the interest on repayment, has no worries about debt collection and even formalizes and legalizes this loan so you don’t have a headache.