Personal Loan – How Does It Work? How to hire?

“How will the Nubank personal loan work that is being released to all potential customers of the nation’s most innovative and fastest growing financial products and services platform”

Fintech Nubank is not joking, it first came as a fintech financial services and means of payment, then turned bank, will make personal loan and has shown that it will not go away.

The new Nubank credit facility (personal loan for individuals) will be the newest financial fintech feature that will start in Beta phase, that is, experimental mode.

Like other previously released products, only a few customers will have access to the Nuback application. Anyone who has access to the option will have a button to make the request reviewed and approved by Nubank.

The new button in the app will have a “loan” name, access your phone and see if you are one of Nubank’s beta-testers for borrowing money with differentiated advantages.

When applying for a loan, the amount is deposited in NuConta, and the debt can be split in up to two years, and the first installment can be paid 90 days after contracting the service.

The release of the personal loan will be carried out gradually. Nubank expects in the coming months to leave the option to the more than 600 thousand customers of the NuConta digital account and the Nubank credit card for credit.

The company must at the outset maintain a list of clients for pre-approved credit with the opportunity to carry out the immediate employment of the personal loan.

Well, what you really want to know is:

  1. How to Hire a Nubank Personal Loan?
  2. What is the loan interest rate on Nubank?
  3. How soon can the client repay the loan?

See below how everything will work in a simple and uncomplicated way and some more answers to your questions.

Who can take out the loan?

At the moment, the mode of credit will be released in Beta mode only for some customers who use both the Nubank credit card and the NuConta digital account.

The next phase of Fintech Financial is to extend the “loan” option so that all users who use it have only the card or only the NuConta. In this way, all customers will have pre-approved access to the interest-rate loan.

How to apply for personal loan in the application?

Nubank is an all digital company in this mode of credit, the process will be done using Nubank application with Android system, iOS and Windows.

For clients that the loan option is released, a button link will appear in the shortcut menu that everyone already knows about NuConta.

Just click on the option, when you are redirected the client will have visible access to the pre-approved limit that was made available. If you choose to apply for the Nubank loan, just tell us the desired amount and choose the payment term in installments. Upon contracting, the requested amount of money is sent to the user’s NuConta.

What is the deadline for paying the installments?

What is the deadline for paying the installments?

Unlike other online credit and financing companies, in ” borrowing the Nubank personal loan ” the borrower will be able to the first installment with up to 90 days.

In other lenders, the borrower has a minimum term of 3 months to divide the amount borrowed, with Nubank, ” There is no minimum number of installments “, however, it will have a maximum term of 24 months to repay the loan.

  • There is no minimum number of installments to repay the loan
  • Term of up to 24 installments to repay the loan

What is the interest rate applied on the loan?

What is the interest rate applied on the loan?

At first, the interest rate will be between 2.1% and 5% per month, not bad for what is being charged in the credit market, however, this rate varies according to each client’s financial profile and also the chosen term to pay the installments.

Note: Only to have a comparison, the average interest rate for operations made through the payroll loan for employees of private companies, this is the modality that deducts in the payroll, is around 4 to 6% per month.

What is the minimum amount that will be released?

The cash amount that can be requested as a personal loan is at least $ 30.

  • Personal loan with a minimum value of R $ 30

As for the maximum amount released by Nubank, will vary according to the profile of the customer and certainly for those who have adequate movement, can pick up between R $ 3 and R $ 10 thousand reais or more.

How to make a simulation to get a loan?

Can you make a Nubank loan simulation without compromise? Yes.

For users who have access to the modality, just access and inform what the amount of the personal loan and the amount of parcels you want to do, when loading the information the application will show what the interest rate and the amount of the installments to be paid.

If you want to proceed, just complete the order.

Is personal loan safe and reliable?

NuBank was born as a Brazilian Fintech, established in 2013, initially offered its credit card without charge of annuity fee and inscription of many other fees.

Since its launch, millions of people already own the Nubank card and NuConta, and according to the company, more than 700 thousand are waiting to get the products. The wait is consolidated thanks to the application process and pre-approval that carried out by 100% online application.



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