The Nubank loan is Nubank's personal credit method. This large fintech focuses on financial and payments services and is expanding more and more in Brazil.
After becoming one of the most popular digital banks, the company now stands out in the personal loan model. See everything you need to know about this service in this article:
What is a Nubank loan?
Nubank's new concept is personal loans, and based on the creation of Nubank's previous product, only some customers will have a loan option. And the entire process can be completed directly through the Nubank app, click the button to review and pass.
This app button is called “loan” and can be accessed from your cell phone. There you can see if you are one of the company's beta testers who can lend amounts with very different advantages.
When you request a loan with Nubank, the amount is deposited directly into your NuConta. Once contracted, the debt can be paid in up to 2 years in installments, with the first installment only payable within 90 days after the loan.
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The release of the personal loan quota will be gradual. In the coming months, Nubank intends to grant loans to around 600,000 customers with NuConta digital accounts or Nubank Rewards cards.
Who can take out a loan from Nubank?
Currently, this type of credit is in beta, or experimental, version. Therefore, few customers have access, preferably those who always use a Nubank credit card or NuConta digital account.
After this beta phase, Nubank will offer loans to all users who have the card or just a NuConta digital account. As a result, all of the company's customers will gradually receive pre-approved credit.
How to rent personal credit from Nubank by applying?
Nubank is a completely digital financial institution, therefore, the entire loan process will be done through a Windows application and also through a mobile device with Android or IOS.
Customers with Nubank's loan service will receive a link to a quick menu button, which is well known to NuConta users.
When a customer enters an option, they will automatically be redirected to view their pre-approved limit balance, which is already available to them. It is worth remembering that interest will be paid later.
After choosing a loan from Nubank, you just need to enter the amount, choose the payment term and the number of installments. Once the contract is concluded, the amount requested by the customer will be sent directly to the customer's NuConta.
Payment of installments
As for loan installments, Nubank's approach differs from its competitors. Just 90 days after subscribing to the service, the first payment will be made.
Generally among competitors, the customer has at least 3 months to divide the amount borrowed from the finance company. At Nubank, there is no minimum number of installments, but you will have a maximum period of 24 months to pay off the loan.
So to strengthen:
At Nubank, there is no minimum number of installments to pay the loan.
The loan repayment period is up to 24 months from the date of signing the transaction.
→ Apply for a high limit credit card! Click here to see cards with no minimum income requirement!
Fees
Initially, the interest rate defined by Nubank will be between 2.1% and 5% per month. This rate may vary depending on the financial situation of each client. And the deadline for opting for installments is also taken into account.
For example, employees of private companies, when deducted directly from the payroll, vary in value between 4% and 6% per month.
Minimum value
The minimum amount for a Nubank loan is R$ 30.00.
Regarding the maximum limit issued by the company, as mentioned above, this will depend on the customer's profile and the movement of their NuConta. Customers can borrow R$ 3,000.00, R$ 10,000.00 or more.
Carry out a Nubank loan simulation
For customers who can use this method, simply access the appropriate key and tell the system how much you want to subscribe to and how many times you want to repay the loan.
After the system loads the information, it displays the exact interest rate and the amount of the personal loan installment to be paid. If the customer wants to continue, simply complete the order.
Can I trust the Nubank Personal Loan?
Fintech NuBank was founded in 2013 and its initial credit card product did not charge the well-known annual fee and also offered a waiver of some other subsequent fees.
Millions of users have Nubank and NuConta cards since Nubank was launched on the financial markets. According to the company's own statistics, more than 700,000 people are waiting to take advantage of Nubank's products.
This wait is integrated into an intelligent request and pre-approval process carried out 100% online via the app. By working in this way, Nubank gained trust and proved through its results that it is a completely safe company.
It was accompanied by innovations that aimed to “retire” old financial manipulation processes. And guarantee your customers the convenience of a credit card combined with the benefits of digital banking.
