Personal Loan: Is It Worth It?

Since early November 2018, a credit and financial services company have released the first version of its application to communicate with customers. The company, created in the city of São Paulo in 1990 Sorocaba, has more than 5 million cards issued. Since 2010, Sorocred has been making efforts to move from being a regional brand to becoming a national network. For that, he invested in credit card and personal loan.

Among the various loan modalities, personal credit is a good option – see the best for your profile in the IQ 360 Loan Comparator. In addition to good chances of approval, you have lower rates than the overdraft and the credit card itself. In this article, we will show you the benefits, conditions, and difficulties of applying for a loan at Sorocred.

How does the loan work?

personal loan

For anyone who is a Sorocred customer, the loan is pre-approved. If approved, the release takes place within 24 hours, with deposit into the client’s account.

However, on the Sorocred website there are no specifications on fees. According to data from the Central Bank , the interest rate on Sorocred’s loan was 13.86% per month and 374.53% per annum until November 9, 2018. As a personal loan, it is common to cover higher amounts compared to other modalities.

Do you want to make a loan? Find credit options in our simulator

Do you want to make a loan? Find credit options in our simulator

How to take out a loan?

 How to take out a loan with Sorocred?

There is not much information about personal loan. You lack basic information as to who is targeted, the prerequisites and the necessary documents. Even without documentation information, it is advisable that you have some standard documents:

  • RG
  • CPF
  • Proof of address
  • Proof of income

The IQ 360 has contacted the service center through the numbers: 0800 55 55 15 or (15) 3224.6555. We were unable to obtain information on the ways to acquire the loan. Apparently, only those who are already a customer Sorocred can make the loan, because the CPF is requested before the loan service.

Is it okay to make a loan?

Even with a website, Sorocred does not provide important information about your loan, such as the required documentation, the interest rate, and who you can get. In addition, the call center works only for customers of the financial.

According to the interest rate provided by the Central Bank, Sorocred’s personal loan has a very high Total Cost Effective . What is to be expected for an unsecured personal loan.

If you are a Sorocred customer, you can check with the financial conditions for the loan. But look very carefully at your loan options in the market. Research well before closing deals so you can find a friendlier credit for your pocket. If you have a house or car, for example, you can try to get a lower interest rate.