2023-10-05 14:53:04
For the second consecutive time this year, the Copom – Monetary Policy Committee of the Central Bank decided to reduce the Selic rate by 0.5%, from 13.25% to 12.75%, reaching its lowest level in 16 months and indicating that the downward trend should continue in the next committee meetings.
As Selic is the main monetary policy instrument used by the BC – Central Bank to control inflation, it influences all interest rates in the country, such as interest on loans, financing and financial investments.
“Therefore, due to its second consecutive fall, borrowing money becomes cheaper and this stimulates consumption. However, it is important to remember that before requesting credit, you need to understand which one is the most appropriate, taking into account your needs”, says Rodrigo Salim, a financial specialist with more than 15 years of experience in companies in the segment, graduated in Law from Mackenzie University and MBA in Business Management from INSPER/IBMEC.
Before any contract, it is ideal to analyze in detail the available options, such as financing, personal credit, payroll loans, consortium, among others, see their main differences and only then decide.
Main types of credit available on the market
Financing is the type of credit generally used for the acquisition of high-value assets, such as vehicles and real estate. Due to the value of these assets, the deadlines for paying the financing are usually longer.
“An advantage of this type of credit is that because the asset purchased serves as a guarantee for financing, its interest rates can be lower when compared to personal credit, for example”, explains Salim.
The simple way of contracting, most often online, is certainly one of the great advantages of a personal loan. Unlike financing, it is more suitable for situations that involve little money with short-term repayment.
“In general, the amount is used without a specific purpose and its interest rates vary greatly, depending on the bank correspondent and guarantees”, analyzes Salim.
Considered a type of low-risk credit, the payroll loan allows the bank correspondent to apply lower interest rates than the market average.
“This is possible because this credit has its installments deducted directly from the salary under the INSS benefit. It is hired by public employees, formal employees and retirees, as long as the portion cannot exceed 45% of the monthly salary”, comments Salim.
Among all the credit possibilities available on the market, the consortium continues to be a good financial planning option for millions of Brazilians who are looking for full payment in installments, the diversity of payment terms, the purchasing power in cash, the possibilities of obtaining credit through sweepstakes or accelerate contemplation through bids, the opportunity to build and expand assets and flexibility in the use of credit.
The consortium occurs through the bringing together of a group of people with a common objective and willingness to pay affordable installments at more attractive rates for a certain period. This entire operation must always be carried out by an administrator who must be authorized and supervised by the Central Bank of Brazil.
“As you can see, the market offers different alternatives and types of credit to help organize your financial life. That is why it is important to take due care when requesting it, analyzing all available options to have a balanced financial plan”, concludes Salim.
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