C6 Bank debuts in the home equity segment, a type of credit in which the property is given as collateral and the funds can be used for any purpose. Check out!
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C6 Bank debuts this month in the home equity segment, a credit modality still little known to Brazilians, but which had high growth after the pandemic. Unlike real estate credit, in home equity, the property is given as collateral and the resources can be used for any purpose.
According to the Brazilian Association of Real Estate Credit and Savings Entities (Abecip), the volume of loans to individuals in this modality grew 32% in 2021 compared to the previous year, jumping from R$4.1 billion to R$5.4 billion. billion. In terms of number of contracts, the increase was 36%.
About the new C6 Bank
Popular in the United States, home equity has recently started to gain ground in Brazil because it is cheaper and has a longer term than traditional personal loans. Currently, the home equity portfolio in Brazil already exceeds R$ 14 billion, according to Abecip. Loans with real estate guarantees can be paid in up to 240 months at rates that are even more advantageous than payroll loans, depending on the customer’s profile.
The loan limit offered by C6 Bank is up to 60% of the value of the property. If it is not paid off, at least half of the loan is conditioned to the payment of this debt. This means that even a property still financed can be given as collateral.
For the time being, the new C6 Bank product is available on the app for a group of 200,000 customers and in the second half of the year it will be extended to a broader base of individuals. Credit must be requested directly through the app and also through the bank’s website.
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