Financing, the bank provides a value for you to purchase a specific good or service. In general, the bank transfers the money to the establishment where you will do business, but there are cases where it deposits in your checking account by submitting purchase invoices, or offers a card or letter of credit. The amount you receive will be paid in installments with the interest rate increase.


On the loan, the value must also be returned with the bank in installments with interest, but rather the funding has not specified destination. That is, you use the money as you want. The most common types are payroll and personnel. The first is for civil servants, retirees, pensioners and professionals from private companies. The debt installments are deducted from the payroll.


On a personal loan, you ask the bank the required amount, with negotiable interest rates at times. You can hire him also in electronic or internet box screen because many customers already have a pre-approved credit, when rates and deadlines are set. But beware: the interest is high. Another option that also charges high interest rates is the overdraft at the bank to deposit a specific amount of the balance of your checking account. You use when you want; You do not need a bank release.


But the consortium is a group of people who meet for the purchase of a good or service. In this option, there is a no-interest charge, but a management fee that is about 15% of the good or service. And you can only get well if contemplated in the monthly draw or makes a move (anticipation of the money in installments).


It notes that taking out a loan or funding should be your last option. But if you are convinced about the choice, search and compare interest. If you became interested in the consortium, carefully read the contract, check out the membership fee of values, management fees, franchise and insurance.

Source : proteste