Through the PicPay app it is possible to request up to BRL 15,000

PicPay, a Brazilian fintech, created a service recently called Clube do Empréstimo. In short, the objective is to make people who need to borrow money find others who want to invest to make their values ​​​​perform.

That way, people who are going through financial squeezes can have one more chance to pay off their debts. In addition, it is also a good opportunity for those who want to see their money increase. Find out how the service works below!

PicPay Loan Club | Photo: Disclosure

How does the PicPay Loan Club work?

At first, the user who needs money places an order indicating the amount he wants, as well as the number of installments he can pay. Then PicPay analyzes the applicant’s credit profile and, if everything is ok, approves the request.

From there, the value is divided into shares that must be purchased by investors. In this way, these investors, who will be lending the money, will receive remuneration for the act.

In addition, the maximum amount that the platform releases for loans is BRL 15,000. The rate, in turn, is 1.18% per month. However, the biggest advantage for those who use the service is being able to choose the amount of installments. Also, to request the money it is not necessary to have a bank account, because the entire process takes place within the PicPay application.

See too: If you’re looking to apply for a loan, don’t make THESE mistakes!

How to apply for a loan through the app?

First, you need to download the PicPay app (Android: https://play.google.com/store/apps/details?id=com.picpay&hl=pt_BR&gl=US or iOS: https://apps.apple.com/br/app/picpay-conta-pix-e-cart%C3%A3o/id561524792). After that, just follow the steps:

  • Register and access the application;
  • Select the option “Wallet;
  • Soon after, go to “Loans”;
  • Finally, choose the option “Borrow at the club”.

At the end, the applicant will be able to carry out a loan simulation. If you agree with the values ​​of the installments, just confirm the request and wait for the app to analyze. During a period of 7 days PicPay will try to find people interested in lending the amount. To track the request, just keep an eye on the app.

Also, according to PicPay, Clube de Loans has been authorized by the Central Bank since 2018. After all, it is just a network of loans between users. In this case, the platform only acts as a banking correspondent for Crednovo Sociedade de Empréstimo entre Pessoas SA, being responsible only for joining those who intend to invest with those who need to borrow money.

See too: New loan of R$ 1.5 thousand CONFIRMED by the Senate; know more

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