This review of the Sim personal loan will present the main information about the credit from the Santander group's fintech. Therefore, find out more details about rates, payment terms, approval time and much more so you can learn everything about the Sim personal loan.

Contrary to what many people think, applying for a personal loan today is not synonymous with bureaucracy, insecurity and high interest rates. Thanks to companies like Sim, it is possible to find products on the market that are easy to access, have low rates and good repayment terms.

Are you interested? Don't miss a single line of this review about the Sim personal loan and understand the advantages and disadvantages it has to offer.

Sim is nothing more than a fintech from the Santander group that aims to facilitate access to credit for the general population that needs loans. Thus, at Sim you have two lines of credit: personal loans and personal loans with car collateral.

At Sim, the personal loan application is made without bureaucracy, with transparency and security, 100% online. This way, in unsecured credit you have up to R$ 30 thousand to pay in up to 36 months with an interest rate starting at 2.83% per month.

With a personal loan secured by a car, you have a credit limit of up to R$150,000.00, an interest rate starting at R$1.821 per month and up to 60 months to pay. The installment amounts depend on the type chosen.

Sim is currently present in more than 26 states and has more than 5 million customers throughout Brazil. Therefore, we will tell you more about the personal loans that this fintech offers.

There are no fees charged at Sim. Only the interest rate and taxes. Sim's rates start at 1.82% per month for a car loan with collateral and start at 2.83% per month for an unsecured loan. However, they are personalized and may vary depending on the product, term, amount requested and profile of each customer. 

On the Sim website, customers have access to a loan simulator to see what the installments of their loan will be, the interest rate, depending on the amount requested and the payment term.

Therefore, it is recommended to use the Sim loan simulator. This way, you will be able to know exactly what the approximate interest rate you will pay for the loan you requested will be. This helps with personal financial planning so that you are not caught off guard.

One of the main advantages of the Sim personal loan is the speed at which the customer completes the entire application process on the website. In other words, in less than 5 minutes you can fill out all the information and submit your loan application. Subsequently, the approval response is given within 72 hours.

In addition, the interest rate that Sim charges on its personal loan is quite low, starting at 1.82% per month for credit with car collateral and starting at 2.83% per month for loans without collateral. However, the amount may change depending on the number of installments or the amount requested for the loan.

Furthermore, the customer who requests the Sim loan will have up to 60 months (loan with collateral) or up to 36 months (loan without collateral) to pay the installments of the personal loan.

Another important advantage is the convenience of applying for a personal loan. In this sense, we do not need to leave home to apply for the loan. Therefore, the entire application procedure is done online. In addition, it can be done through the website on a computer, cell phone or tablet.

Therefore, the first point of disadvantage is that approval for those with negative credit ratings is subject to guarantees. That's right, Sim has a line of credit with vehicle guarantee and only it can be requested by people with negative credit ratings.

Therefore, if you have a negative credit history and do not have a vehicle in your name, paid off, to provide as collateral, you will not be able to get approved for a personal loan.

Furthermore, within the Sim website it is not possible to find the minimum income value to be able to apply for a personal loan or whether there is such a minimum income value.

Sim has an application for both Android and IOS that will provide all the necessary information about the loan that you need to know.

Therefore, it is quite useful and complete, so much so that we can carry out the entire request procedure within the Sim application itself. But we will talk about this in the next topic.

In this part of the review about the Sim personal loan, we will talk a little about the application process, which is online and very easy to carry out.

Finally, follow the step-by-step instructions to apply for a personal loan:

See the documents that will be necessary to apply:

Finally, after this entire procedure, you just have to wait a maximum period of 72 hours to receive a response regarding possible approval. 

Did you like the information? Therefore, in this review about the Sim personal loan, it was possible to clarify doubts about the Sim credit service, in addition to being aware of all the advantages that the company has to offer. So, if you are in need of a personal loan, just do your simulation at Sim and sign up.