Find out how this method works!

Nubank has significantly expanded its operations, however, it has broadened its range of new services in order to promote more and more products to its users. In agreement with the emerging Creditas, the digital bank now offers its customers a better experience when subscribing to a credit option.

At the same time as Nubank is a digital giant in financial solutions and at the service of its clients, Creditas is a specialist in digital lending methods. Read on and find out How to apply for a loan from Nubank.

See more: Nubank News: Digital Bank Launches Shopping Feature in Partnership with Retailers

In this new credit option, users have the option to mortgage the car as collateral for the loan taken, for example. Nubank said the rates for this new type of loan would have better costs and benefits and the terms would be longer. With the objective of becoming shareholders of Creditas within two years, the company intends to acquire 7.7% of the shares of the partner company.

How does this type of loan work?

Fintech has made it clear that up to 90% of the car can be pledged as a credit guarantee. At the close of the service contract, users who complete the proposal through the app will still be able to count on cash back of up to 1% of the value.

So all you have to do is go to the app, go to the “Take Borrowed” option, and once that is done, another explanatory page will open with the pledge option of car. Right after that click on Simulate Loan and it will direct you to the Creditas app. If this app is not downloaded to your phone, install it normally.

Therefore, the rest of the entire process will be done on the Creditas platform. The contracted service is gradually being made available to nearly 40 million Nubank users. Therefore, this new method will allow the customer to take out a loan and leave the car as security for payment.

It should be noted that the vehicle to be used in warranty must be in the name of the customer and all have up-to-date and paid documents.

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