Tips not to fall for scams when applying for a loan

Personal loan is a way for many people to fulfill their dreams and goals. So that nothing goes wrong you need to be calm and analyze a number of characteristics – especially for the scams that commonly happen when the person is in a delicate situation or does not know much about this type of negotiation.

Fortunately, there are concrete ways to avoid these malicious actions that could compromise your money.

In this article, we’ll cover just that, bringing you tips not to fall for scams when applying for a personal loan. Aside from having no future headaches, you will still be able to find the best line of credit with the steps we will list below.

Hire only in safe environments

Hire only in safe environments

The first and foremost tip is: Make personal loans only with those who are reference in the subject. And this includes not only financial institutions, but also credit platforms that have formal partnerships with financial institutions and a good client portfolio. In both situations you only have to win.

This is because financial institutions are authorized and regulated by the Central Bank, while credit platforms are official intermediaries. A search for the CNPJ, address and contact with whom you want to borrow avoids falling for scams.

Be Wary of Great Opportunities

One method everyone should do to get a personal loan is to research. And during these surveys, some conditions can be ‘miraculous’, with very low interest opportunities and almost no fees or charges.

Always be suspicious when there is this kind of option. This is because, although interest rates and rates vary, credit institutions and platforms follow an approximate average practiced by the market in question. Very advantageous option? Run away from falling in one blow.

Never deposit before


It is customary for fraudulent actions to request an advance deposit to ‘deduct’ part of the amount. What does that mean? If you thought about a scam, you got it right: No personal credit operation asks for any collateral before you get the amount you borrow.

In some cases this scam is more visible: when, besides asking for the advance, the ‘company’ or ‘intermediary’ of the business does not make any kind of registration or search. Again, don’t fall for this scam.

Read the contract

Did you know that it is possible to fall for scams even from financial institutions with ‘good name’? Some may not consider the fraudulent action – as justice itself – but if we analyze, there is nothing orthodox about placing clauses in the contract without explaining them.

So never under any circumstances sign anything without carefully reading the loan document. It is a security that prevents even if you win a lawsuit against the institution, it will take time and patience – or even lose in the judiciary.

Choose private payroll


If you are an employee of a company that has private payroll, choose this option. This is because security and the ‘antidote’ against loan scams are well crafted by the companies that do this intermediation.

Another reason is that the private payroll, rather than a personal loan, is discounted, ensuring that you do not pay interest in case of late payment; and, finally, limits a percentage of your income with a ceiling to this end. Best of all, payroll interest is much lower.

If your company has not yet joined this growing credit mode (or if you are a business owner and want to know more), contact us for more information. Register your company on our website and learn how to access this benefit.

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