In recent years, the online personal loan has become an attractive option for those seeking credit in a practical and safe way.  

This type of loan combines the convenience of the digital environment with the familiarity of paying by installment plan, something very popular among Brazilian consumers.  

In this article, we'll go into detail about how online personal loans work, how to take out a loan and the main points to consider before closing the deal. 

What is an online personal loan? 

O online personal loan is a type of credit in which the borrower applies for the loan through digital platforms, such as bank or finance company websites, and pays the installments via a payment book.  

Unlike other types of credit, such as payroll loans or automatic financing, this option gives customers more flexibility to pay the installments and control their spending. 

Advantages of online personal loans 

Among the main advantages of this modality are 

• Ease of hiring: The whole process can be done online, without the need to go to a branch. 
• Financial control: Payment by credit card allows the borrower to be clearer about the dates and amounts to be paid. 
• Flexibility in payment: By opting to pay by credit card, customers can better plan their disbursements, avoiding problems with automatic debit or other stricter payment methods. 
• Greater reach: Many financial institutions offer this type of service to customers who have restrictions on their name, broadening the possibilities of access to credit. 

How does the loan contracting process work? 

1. Search for reliable finance companies

The first step to hiring a online personal loan is to choose a reliable financial institution. Today, there are several specialized companies that offer this type of credit, and it is essential to carry out detailed research to find the best option. Some important tips include: 

• Check the reputation of the finance company: Use consumer complaints sites, such as Reclame Aqui, to check the satisfaction of other customers. 

• Check the interest rates: Interest rates vary greatly between institutions. That's why it's essential to compare different options. 

• Understand the terms of the contract: Before you close the deal, read all the contractual clauses carefully to make sure there are no surprises in the future. 

2. Loan simulation

Most finance companies offer a simulation tool on their websites, where you can get a clear idea of the amount of the installments, terms and interest rates applied. At this stage, it is important to adjust the amount requested and the payment period to your financial reality. 

• Total loan amount: Set an amount that meets your needs without compromising your income too much. 

• Number of installments: The higher the number of installments, the lower the monthly payments, but the higher the interest rate. That's why you need to balance the amount of the installments with your ability to pay. 

3. Sending documentation

After the simulation, you will need to send some documents to the financial institution, such as: 

• Identity document (RG or CNH); 

• Recent proof of residence; 

• Proof of income. 

These documents are used to verify the applicant's identity and ability to pay. In many cases, the entire submission is done digitally, making the process easier. 

4. Credit analysis and approval

After sending the documentation, the finance company will carry out a credit analysis, taking into account factors such as monthly income, financial history and payment capacity. If the loan is approved, the contract will be released for digital signature. 

5. Signing the contract and releasing the credit

Signing the contract is the last step before the money is released. In general, the amount is deposited directly into the applicant's account within a few working days, and the payment slip will be sent by post or made available for printing on the finance company's website. 

Cautions when taking out an online personal loan in installments 

Although online personal loan is a convenient solution, it is important to take some precautions to avoid future problems: 

Watch out for interest rates 

Interest rates can vary greatly between financial institutions, and in some cases the interest applied can be quite high. Before signing the contract, make sure you are aware of the Total Effective Cost (TEC) of the loan, which includes all additional fees and charges. 

Read the contract carefully 

Even in online transactions, the contract is an official document that should be read carefully. Make sure that all the conditions agreed in the simulation are present in the contract and pay attention to clauses involving fines for delays and other charges. 

Plan your finances 

Before taking out a loan, assess your budget carefully. The installment payments must be compatible with your monthly income, so that the loan doesn't compromise your financial planning. 

Who can take out a personal loan online? 

Anyone over the age of 18 with a valid CPF and a proven source of income can apply for a online personal loan. In general, this type of credit is also available to people with a negative credit rating, although in these cases the interest rates are higher. 

Documentation required 

For hiring, the basic documentation includes: 

• Identity document (RG or CNH); 

• CPF; 

• Recent proof of residence; 

• Proof of income. 

Depending on the lender, other documentation may be required, such as a credit history. 

Conclusion 

O online personal loan is an excellent alternative for those looking for practicality and control when paying their installments. With easy online contracting and the option to pay by installment plan, this type of credit caters for a wide variety of consumer profiles. However, it is essential to research the options available on the market, compare interest rates and analyze the contractual conditions before making a decision.