The Brazilian Cooperative Credit System is the largest cooperative banking system in the world, with more than 5 million members and 3,400 service points throughout the country. In addition to a diversified portfolio of loans, its members can take advantage of additional financial services, such as various types of accounts, insurance and consortia.

Do you need more funds for various reasons, including paying off debts, home renovations and college tuition? See in detail all that the Sicoob loan has to offer below!

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Sicoob loan: How does it work?

Each loan is unique in its own way and is designed to alleviate the client's difficulty. This is done through a credit analysis, which identifies the ideal credit choice for the member's profile type.

As a member, all you need to do is sign up in person at your credit union or via the app.

Main advantages of Sicoob credit

• Money released on the spot: As the loan is pre-approved, you won't have to wait long to get the funds.
• Pre-fixed interest rates: The interest rate is low and does not affect the amount of the loan installments.
• Flexible repayment periods: You decide how often you want to repay the loan.
• Simple payment: Fees are automatically withdrawn from your account.

Sicoob Individual Loan: What are they?

Among the credits that Sicoob makes available to its members (individually) are the following:

• Microcredit;
• Payroll loans;
• Personal loans;
• Real estate loans;
• Financing.

Everyone has their own unique set of qualities and needs. The Personal Credit Line includes the following loans:

• Loan for personal use;
• Credit card for individuals;
• Credit automatically;
• Guaranteed home loans;
• Anticipation of 13th Salary and Vacation Pay;
• Anticipation of Income Tax;
• Tourism, Education, Health, Special Checks.

Sicoob account revolving credit

Sicoob revolving credit is a loan with a pre-approved limit that is always available. In other words, when you join a cooperative, a credit analysis is carried out and a credit limit is set for your account. When your credit limit is exhausted, it decreases and, when you make a payment, the credit limit is restored.

It is suggested that you only use it when absolutely necessary, as the costs are quite high. In this respect, you can also use an overdraft, which is similar, but has the advantage of not charging interest if you pay back the loan within a few days of using it. Generally, the maximum period is 10 days.

Loans for pensioners: How does it work at Sicoob?

Payroll loans are the best type of financing for pensioners. This does not exclude the possibility of other types of financing! When evaluating alternatives, this line provides the best value.

At Sicoob, the following people are eligible to apply for this credit:

• INSS pensioners;
• Employees of private companies;
• Public servants.

Pensioners can get a loan from Siccob if their benefit is permanent, as the deduction is taken directly from their salary. A credit margin must be provided, as well as authorization from the INSS. The loan application must be made in person at a Sicoob cooperative.

Sicoob Home Loans: What are the advantages?

At Sicoob, you'll find many options for personalizing your home! A home loan offers members the following advantages:

• Purchase of new or used residential properties;
• It is repayable over a period of up to 30 years;
• The loan is up to 80% of the property's value;
• It is possible to use the FGTS to pay off part of the loan.

Can Sicoob finance building materials?

Yes! If you need financing to buy supplies for your home, the following criteria apply:

• The materials can be used to renovate or build the entire property.
• The funds can be sent directly to the provider or placed in your bank account.

Any of these loans must be taken out in person at your cooperative.

Credit life insurance: What is it and how does it work?

Sicoob credit life insurance is an option available to member borrowers. Although this insurance is not required for most loans, significant sums may require a cash release.

The benefit of taking out a life loan is that it protects your family from having to pay the loan repayments in the event of your death or disability. You or your heirs may even be compensated.

Sicoob credit for the self-employed: Is it possible?

Being self-employed or having a formal contract does not exclude you from being eligible for a loan with Sicoob! If you can demonstrate your financial situation and your ability to repay the loan obligation, you can apply for a loan.

The credit analysis will be carried out according to the cooperative's conditions and, if accepted, all you have to do is use the funds and pay the installments on time.

Sicoob Business Loan: Where to use it?

Sicoob's corporate loans offer customers a range of options, regardless of the size of their business.

Simplic personal loan: Credit in your account in up to 24 hours!

These solutions make it possible to manage cash flow, deal with unplanned costs and invest. The credit lines are as follows:

• Working capital;
• Anticipation of receivables;
• Differentiated financing;
• BNDES financing.

Sicoob Microcredit, a loan for starting a business, is also possible as long as the client obtains initial cash and the loan amount is not excessive.