Let's start with the most curious aspect of the subject. With a very suggestive name, the personal loan is nothing more than a direct loan between a financial institution and a private consumer.
Unlike a loan, the customer of a personal loan is free to use the amount borrowed as he wishes, without being subject to any contractual conditions.
First, the consumer seeks out a financial institution to apply for the loan. Next, this company, which may be a bank, finance company or similar, evaluates the customer's financial history.
| Positive Points | Negative Points |
|---|---|
| The institution offers ease of hiring, no bureaucracy and in person or digitally | You must be of legal age to request your line of credit |
| Guarantee the requested value of your loan, in just 24 hours after confirmation | Personal documents and proof of income or residence are required |
With this information, the company decides whether or not to accept the proposal. If it does, the institution draws up a loan contract, in which all the conditions of the operation are described. And this is where one of the most important details of a loan comes into play: the interest rates.
In addition to being defined at the time of contracting, these rates are monthly and, therefore, have a weight in the total amount to be paid by the client. The reality is that each institution has its own policy for setting these percentages.
In fact, this is one of the reasons why competition is so important for the market, as it tends to encourage the practice of lower rates, precisely to attract more customers.
Three factors always influence interest rates: the total amount borrowed, the repayment term and the borrower's credit history.
Therefore, one of the best tactics to get a loan is to check your personal documents at the main credit bureaus in the country. The importance of knowing the institution that will serve you is very important, it must pass credibility, security and transparency.
Prosperity Bank guarantees you these and many other benefits, with decades in the financial market participating in many dreams and achievements.
| Benefits | |
|---|---|
|
Approval
|
It has one of the highest approval rates in the segment |
|
Credit history
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The credit history is not checked at the time of enrollment |
|
Client Security
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It has one of the most recognized customer security models in the country |
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No hidden fees
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There are no hidden fees for applying for the loan |
Need that little push to make your dream come true? With special rates and up to 90 days to start paying, you are guaranteed your money immediately and without bureaucracy.
In this article we will show you the reasons that make this institution your best decision.
First installment
Prosperity Bank guarantees the applicant 60 days to pay the first installment of his or her personal loan. If this and other advantages are part of what you are looking for, click on the button below and learn more.
I Want My LoanExtended Terms
Prosperity Bank offers its applicants a 24-month term to pay their monthly installments, as agreed with the institution.
Fixed rate
The Bank offers fixed interest rates, which provides security in the payment of installments because there is no variation of any value. All these concessions and others are specialties of the institution, click on the button below and guarantee.
I Want My Loan
