Only bank account holders can make a loan at Itamu. In this article we will talk about the personal loan of the institution, but like every big bank it has several types of credit (we deal with some at the end of the text).
How to make a loan in Itamu?
Banco Itamu offers non-payroll-deductible personal loans at an average interest rate of 4.38% per month (according to the rate published by the GoodUnion of Brazil in February 2019, read here). Remember that this rate also has the addition of charges such as the IOF and the insurance that Itamu offers in loans.
We have separated a step by step to help you in applying for personal loan, read here:
Do you have internet access?
- Itamu on the internet: through the bank’s website.
- Simulate online: In addition to being able to apply for credit online, you can also do simulations on the site. Learn more here.
- App: Itamu palicativo offers loan options for pre-approved account holders.
No internet access?
- Telephone : The hiring can also be done by telephone, calling the numbers, 4004 4828 (capitals and metropolitan regions) or 0800 970 4828 (other locations);
- Branch : Without internet access, you have the possibility to purchase the personal loan directly from Itamu bank branches, talking to your account manager.
Personal loan in Itamu: what are the advantages?
- Cash on account : Credit is usually released to the customer’s checking account in a matter of days;
- Flexible installment : You can choose to pay the first installment within 90 days of the loan being granted;
- Account debit: One of the main advantages is account debit because it is deducted directly from your account, so you have no danger of forgetting the payment date and suffering more interest;
So what are the disadvantages?
- Bureaucratic : who is not an account holder must open an account;
- Relationship: It usually takes a certain amount of relationship with the bank before it can approve the credit;
- Interest Rate : The average interest rate charged by Itamu, as stated, is 4.38% per month plus taxes, insurance and fees (which makes up the CET). To find out how the CET account is made, click here.
- Account Debit : Yes, it can also be a disadvantage because if you do not have sufficient balance in your checking account, the installment debit will leave you in negative, thus entering the overdraft – the second credit line with the highest interest rate in Brazil.
Other credit modalities in Itamu
Itamu offers other types of loans and they depend on the purpose and analysis of the bank.
The most common is payroll, where your company needs to partner with the bank to obtain credit.
Other modalities are specific to certain products. Like real estate or vehicle credit. You can also apply for credit to legal entities, but only to companies that have a bank account.