How do we help you get the best credit in the market?
With the help of our free service you can quickly compare the best rates and terms for all loans available in Portugal. Our form will ask you, firstly, the amount you want to borrow and for how long - figures that you can quickly change to weigh up your options.
You will be given the option to specify or not whether the credit will be used for a car, home improvement, debt consolidation or any other purpose.
Then, you just have to fill in some basic information about you, such as age, employment, income, and homeowner details.
After filling in this form, you have the choice to get free help from one of our specialized certified agents via phone call or, instead, access first and directly a results table with all the personal loans that you can apply for.
Once you reach this stage, you are able to filter your results according to annual percentage rate, the total amount payable by the consumer, the amount of the instalments and the provider.
Regardless of this results table, you can choose to see different loans for different purposes and even go back on the steps of the form you filled in the beginning.
Finally, if you see an option that you like it can be expanded to show the flexibility of that credit: for example, any terms regarding early repayment charges, fees, typical circumstances when the loan is used and factors required for acceptance (age restrictions and credit history). Should you see a suitable option for you, just click through to apply.
What is a personal loan?
A personal loan is a type of loan that allows you to borrow an amount of money, determined in advance, over a fixed term. Repayments are done monthly and are usually spread over a maximum period of 10 years, depending on your personal circumstances.
This type of loan can serve different purposes: to finance your studies, your holidays, a wedding, home improvements, a small business, to buy a car or motorcycle or for another non-specified reason. Also, it can be used to consolidate any debts you have into one single credit.
For smaller amounts you can request quicken loans or a microcredit.
What do lenders check?
Lenders will look into your credit history in order to assess whether you will be able to meet loan repayments on time and so whether to give you a personal loan. This credit score check will show them how you have handled being given credit in the past and alert them in case you have applied for multiple loans.
The lender’s decision will also be influenced by your financial situation: for example, how much money you earn each month and your regular monthly outgoings. Overall, this will affect the amount they are prepared to lend you, as well as the terms of the credit contract that they offer you.
What are credit interest rates?
The interest rate you are charged on your credit will change depending on the amount you borrow and the term you want to pay it back over. Your credit score and credit history can also affect the interest rate you’re offered.
Why compare loans?
Comparing personal loans in our simulator is a free facility that helps you find loans that you will be able to be accepted for before you make a formal application. This way you can avoid credit application rejections which can negatively affect your credit score and impact on your ability to get the most attractive financial deals.
Besides, the simulations on our platform will never have any impact on your credit rating. By comparing all of your options before requesting a personal loan you will ensure that you make a responsible and informed decision.
What makes a good loan?
A good personal loan is one with low interest rates and an affordable monthly repayment, which will vary depending on your circumstances. Also, if you think you will want to repay the loan early, look for a loan that will not involve paying a penalty.
When should a credit card be more suitable than a loan?
A personal loan can be a cheaper way to borrow money than a credit card, if you are looking to borrow a lump sum over a set period of time. Indeed, you are able to borrow more at a lower annual percentage rate than you would be able to on a credit card.
Personal loans can let you borrow up to 50.000€ while credit cards don’t normally offer over 5.000€, so if the amount that you need is more than this a loan could be the best option.
However, personal loans generally entail higher interest rates than credit cards. Thus, for borrowing smaller amounts of money over short periods of time, a credit card may be a better alternative.
While some credit cards offer 0% interest rates for a set period of time on your larger purchases, the big advantage of loans relates to the ability it gives you to choose the period of time over which you can repay them.