Payday Loans

How to apply for a payday loan?


In times of crisis, asking for a personal loan can be a solution to cover unforeseen expenses and even pay off debts that charge very high interest, such as revolving credit cards or overdrafts. Cream Bank is one of the financial institutions that offer this type of loan. See the main characteristics of the options provided by Cream Bank and see how to borrow money from the financial institution:


What types of loans are offered?

loan offer

Cream Bank has several options for Direct Consumer Credit (CDC), which is a modality designed for loans without specific targeting or financing of goods or services. Among the options, which are always subject to registration approval, are Cream Bank, in which there is no need to prove how the credit will be used; Cream Bank, aimed at those who receive their salary from the bank; and CDC Anticipation IRPF, to anticipate the income tax refund deposited at Cream Bank, among other modalities.

How to apply for a personal loan at Cream Bank?

How to apply for a personal loan at Cream Bank?

To apply for a personal loan at Cream Bank, you must have a current account at the financial institution with the registration duly updated. For the release of the money to be approved, it is necessary that the client does not have any type of restriction in his name and has an approved credit limit. To find out what limit you have available, see the footer of your current account statement or go to any Cream Bank branch.

How to hire a CDC?

bank loan

After checking the limit you have available, you can hire a CDC at any bank ATM, internet banking or directly at the bank branch. Payment is made only by debiting the account, in monthly installments, on the date chosen at the time of requesting the loan.

What interest is charged?

credit loans

The interest rate charged by Cream Bank varies according to the type of loan chosen. Payroll loans, for example, have lower interest rates than Automatic Credit. Therefore, it is important to carefully analyze the interest that is charged on the type of loan you are going to apply for. According to data from the Central Bank, the interest charged for non-payroll loans to individuals at Cream Bank is 4.77% per month and 74.91% per year in the period from November 10 to 16, 2015. 

Before applying for a personal loan, it is important to do a careful analysis of your finances and make sure that you will be able to afford the payment installments in the future. In addition, it is essential to invest in expenditure control and always seek to create an emergency reserve in order not to have to borrow money again and to bear the interest charged on this type of operation.

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