In the search for a loan model that fits in his pocket, Brazilians may be faced with several different options. One of them is the direct debit loan.

From it, you can borrow the amount you need. But here, no bill is generated to pay the installment. Payment occurs automatically, being deducted from your checking account.

Because of this, this loan can be very good for some people, and a not very interesting option for others.

To find out if the direct debit loan is a good option for you, continue reading this text and learn everything about this type of credit!

The account debit loan is a type of loan made for personal accounts. Despite having a different name, it basically works the same way as other loans on the market.

However, it has one feature that sets it apart from the rest. When a person takes out the direct debit loan, all loan installments will be debited directly from the balance of their bank account.

That way, instead of the account holder having to pay a monthly bill to pay off his debt, the payment of it will occur automatically. Here, the bank itself will withdraw the amount of the loan installment from your balance.

Thus, every month on the agreed date, the bank will withdraw the amount of the loan installment made automatically until the debt is paid off.

The direct debit loan works in much the same way as other types of loans. Your only change is in the way you make the payment.

As the bank itself will pay the installment automatically, the only thing the account holder needs to do is make the installment amount available in his account every month.

For example, if you took out a loan with installments of R$400.00 that expire every 10th of the month, that means that by the 10th of each month, you will need to leave R$400.00 in your account to pay off the loan

However, it is important to pay attention to this modality, and pay close attention to payments. As the bank pays the amount automatically, it can also use your account limit. This causes you to enter the bank's overdraft.

So, it's important to analyze whether this option won't harm your personal finances before you even hire it.

One of the great advantages of taking out the direct debit loan is the fact that the consumer does not have to worry about paying yet another bill. 

As payments are automatic, it is only necessary to leave the amount of the installment in your account until the due date.

Another advantage of this credit model is the fact that you don't have to worry about paying high interest due to late payments. Every month the bank will always make the payment on the due date of the loan. 

In this way, it is more difficult to have late payments that generate interest. The only way to generate interest from this loan will be if you do not leave the amount to pay the installment in your account.

As we mentioned earlier, this type of loan is not very different from others found on the market. That way, your request can also be made in the same way as the others.

Therefore, if you want to make a debit loan, you first need to look for a financial institution that performs this type of loan.

In this search, it is interesting to start doing some credit simulations. Thus, you will know if the institution can offer the amount you are looking for in installments that fit your budget.

With the research done, you can now apply for a debit loan at the institution of your choice. To do this, it is necessary to send some documents to the institution. 

But don't worry, they send you a list of all the documents needed to apply for the loan.

With the request sent, the bank will carry out a credit analysis. Here, he will analyze your credit history as well as your Serasa score. If everything is right, the bank will be able to approve your loan and already generate the contract for signature.

Here, it is essential to read this contract very carefully to be sure that the loan will not harm you. If everything is ok, you can proceed with the subscription.

After signing up, the money will already be deposited into your account, and each month, the bank itself will automatically pay it.

In addition to the debit loan, there is another type of credit on the market in which the value of the installments is also automatically deducted.

This type of loan is the payroll loan, and many people may confuse it with the direct debit loan. However, it is important to point out that the two models are different.

In the payroll loan, the amount of each installment will be deducted directly from the paycheck, payslip or INSS benefit. Therefore, this modality is more used by retirees, pensioners and civil servants.

Generally, payroll has a lower interest rate. Here, he can also release a limit a little lower than the others practiced in the market.

Before carrying out any credit operation, it is important to ask yourself if that is really the best option for you. For this, it is interesting to have a better understanding of how you handle your finances.

The direct debit loan is a very attractive option for those who need to borrow money from the bank, but do not want to have to pay another bill manually.

He is also interesting for those who have good control of their own finances. This person knows that he will be able to afford the installment without compromising his other financial responsibilities.

Now, all you have to do is analyze your financial profile a little, in addition to, of course, researching the interest rates applied in this modality to see if it is the best option for you!

If you want to know about other loan options, check out the content recommendation that comes next!