Financial or bank loan: what is the best option?

The search for loans has grown significantly over time, mainly due to the economic crisis that has been plaguing our country. They are used for various purposes, such as debt settlement.

However, when someone is in need of money for an emergency and it is necessary to take out a personal loan, it is necessary to analyze whether the loan in financial or bank will be more advantageous. Do you know which institution offers better conditions? Do you know the loan modalities on the market?

Thinking about these issues, in this post, we will mention the types of loans and the main doubts on the subject. Follow!

What are the loan terms?


Payroll loans

Payroll is a benefit that may or may not be offered by organizations to employees. For this reason, it is more common for large companies to provide this line of credit, smaller companies do not always provide it.

Some banks charge credit assessment fees and registration fees. In addition, they can try to introduce insurance into the loan. For this reason, it is essential to check the CET (Total Effective Cost) of the operation, a rate that adds not only interest but all costs involved in the loan.

In fact, it is very important to research the CET in several institutions, comparing not only the costs between large banks but also in smaller banks, which can enable more advantageous conditions.


This is one of the modalities most recommended by specialists, and this is due to the fact that the interest rates are one of the lowest in the market. As banks are more assured that they will get paid on time, they offer lower rates than loans with finance companies, which do not have this security. After all, the debt installments are deducted from the debtor’s payroll.


Not everyone has access to the line. The payroll is available only to INSS retirees and pensioners and to employees of private organizations that have agreements with banks to offer this option.

The anticipation of the income tax refund


This type of loan fits into the personal credit modality. Their rates are generally lower than those of other credit operations that do not provide amounts to be credited as collateral.


Due to the fact that the debt payment is debited from the debtor’s account, as soon as the Income Tax (IR) refund is deposited, the bank guarantee is increased. Since they will receive payment, they offer lower rates: 1.93% per month, corresponding to 25.78% per year.


If there are inconsistencies in the IR statement, the taxpayer may even fall into the fine mesh. Thus, the refund amount calculated initially may decrease or not even be deposited.

In addition, even if the situation with the tax authorities is regularized, the amount of the refund can be paid only from the year following that of the declaration, in the remaining lots.

In spite of this, the bank will require that the payment be made by December, at the latest, when the last batch of income tax refund is deposited.

Thus, the borrower may not be able to settle the debt. It is important to note that the credit is only available at the bank that the debtor indicated in the declaration to receive a refund.

Personal credit offered by websites

Some sites offer personal credit at lower interest rates than those charged at major banking institutions. These sites partner with small and medium-sized banks to offer resources. Thus, they act as banking correspondents.


Due to the fact that these sites do not have maintenance costs with physical agencies, they are usually more stringent in granting credit. In this way, they are able to set up a portfolio more focused on good payers, which reduces risks and makes it possible to offer lower interest rates.


The disadvantage lies in the more rigorous credit analysis, which may make it impossible for some people to approve. The interested individual must be prepared for bureaucracy. Because they do not know the customer and his payment history, as in large banks, the sites require a lot of information so that they can make sure that the customer will be able to pay the debt.

In addition, in some situations, these sites may charge administration fees. For this reason, it is necessary to analyze the CET of the operation and not only the interest.

Property refinancing


In this type of loan, the owner makes his property available as a form of debt guarantee. Therefore, the line is called property refinancing.


As the institution has the guarantee that it will be able to redeem the property if the debt is not paid, interest in this case also decreases. The terms reach up to 20 years, and the amounts borrowed can exceed millions of reais. Interest is lower than payroll-deductible loans, ranging from 19.56% to 26.82% per year. However, there are other costs involved in the operation.


The disadvantage of this line is its high risk, since, in the event of default, the bank may repossess the debtor’s property. In addition, it is a loan that generates many costs that go beyond interest.

In addition, as a fiduciary alienation operation is carried out, in which the property remains in the name of the bank until the debt is settled, it is necessary to register the operation in a notary’s office, as well as in financing.

Refinancing can be recommended for those who cannot apply for the payroll loan but need a solution with higher amounts and terms than those of other modalities.

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