What should I know before taking out a loan?

Regardless of the purpose of the credit, one thing is certain: the installments will be monthly and your payment may take some time. Therefore, it is necessary to be sure that your current and future income will be enough to pay off your debt.

How can I assess the performance of my loan?

A good indicator is the debt ratio, which represents the percentage of your expenses in relation to your disposable income. Your credit charges should not exceed 30% of your household budget. Otherwise, your family's financial well-being could be at risk. So, before applying for a credit, carefully evaluate the amount you really need, the amount of the installment to be paid, plus your monthly expenses and other credits already in progress (when applicable). This will give you your debt ratio.

Credit Protection Insurance is optional and allows:

Full payment of the credit in case of death or absolute and definitive disability;

Payment of benefits in the event of absolute temporary incapacity for work (due to accident and/or illness), hospitalization, involuntary unemployment or arrears of wages;

The value of the insurance premium can be financed and diluted in the installments, making it a lighter effort.