PicPay Loan: see how to apply directly in the app

request a loan it can be a good way to relieve monthly bills and even anticipate the realization of a dream, such as home renovation or a big trip. Therefore, currently several financial institutions offer credit services to customers, such as PicPay.

Founded in 2012, the fintech The Brazilian economy has grown more and more in the country from its innovative products, such as no-fee credit cards, card payments and a highly profitable digital account.

If you are looking for a loan on PicPay, but you don’t know how to carry out the procedure, we have prepared content that can help. Check it out below!

How to apply for the PicPay loan?

(PicPay/Playback)(Source: PicPay/Reproduction)Source: PicPay

To apply for the PicPay loan, it is necessary to follow some internal requirements of the platform, which normally consider aspects such as restrictions and credit history. Therefore, to know if you are able to hire the service, follow the step by step below:

1. Realize o download do app

(TecMundo/Reproduction)(Source: TecMundo/Reproduction)Source: TecMundo

If you don’t have the application PicPay installed on your phone, you need to download the app from the Google or Apple app store. Click on the name of your smartphone’s operating system below to be redirected and install.

2. Create an account on the platform

(TecMundo/Reproduction)(Source: TecMundo/Reproduction)Source: TecMundo

Now that you have the app installed on your phone, it’s time to register. Tap “Register” and fill in all the information requested, such as Individual Taxpayer Registration (CPF), date of birth, full name, among other data. Always select “Next” to complete the procedure and create your PicPay account.

3. Check if the loan is released to you

(TecMundo/Reproduction)(Source: TecMundo/Reproduction)Source: TecMundo

As informed, there are a number of features analyzed by the platform when making or not the loan option available to its users. Therefore, the best way to check if the service is available for you is to click on “Ask for a Loan”.

Soon after, press “Personal Loan” and check if some options will load. If nothing appears, it means that the app does not currently have any credit offers for you. However, this scenario may change in the future, as long as you continue using the platform.

4. Choose one of the available options

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If you have credit offers, PicPay will list them all on your screen. It is important to know that the platform only works as a facilitator between the user and the bank that will make the credit, not being PicPay itself that will lend the money. Therefore, you can choose to hire the services of companies such as Digo, BV Financeira, among others.

5. Make a simulation and contract the credit

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After choosing the company in which you want to make the loan, tap on it to be redirected to the supplier’s external page. Fill in the requested data and make a simulation of the amount you want to borrow.

If you found the offered proposal interesting, select “continue” in the next steps to finalize the credit contract. You will undergo a new analysis and if approved, the loan amount will be in your account within a few hours.

6. Keep an eye on the maturity of the installments

(Unsplash/Playback)(Source: Unsplash/Play)Source: Unsplash

Now that you’ve taken out the loan and have the money in hand, it’s time to keep an eye on the due date of the installments so you don’t have to pay interest and fines in case of delay. A good tip to avoid this is to insert a reminder in your cell phone calendar. That way, you will receive a notification close to the due date.

Is it worth applying for the PicPay loan?

(Shutterstock/Reproduction)(Source: Shutterstock/Reproduction)Fonte:  Shutterstock

As stated at the beginning of the article, a loan can have a number of purposes for its users, who must use it according to their personal needs. In this sense, the PicPay loan is worth it because it allows access to money quickly and easily, without having to leave your home.

However, you need to be careful when hiring and check if the value of the installments are consistent with your economic reality. That’s because, if you can’t afford the costs of the installments, they will get bigger and bigger due to the interest and late fees that will be added to the total amount.

In addition, a loan can be more worthwhile if you can complete the payment of the outstanding balance in a few installments, as the total amount tends to grow with the number of installments chosen.

Although there are other loan options with a lower value on the market, they may not offer the same credit facility offered by PicPay, and it is necessary to personally address their institutions.

It is also worth remembering that the personal credit it is not suitable for buying houses or cars, as the financing of these products tends to offer better interest rates and payments for its customers.

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