Personal Loan, start paying 90 days after hiring.

Nubank was created to give individuals back control over their financial lives. We are tired of the abusive fees and all the bureaucracy of traditional banks. To take another step towards freeing Brazilians from these bad options, we will begin testing a new service with some customers: Nubank credit, a simple and transparent way of using personal credit.

What is Nubank Credit?

We know that taking allocated money can generate a lot of impatience – specifically if it is to solve a need.

Confusing simulations, hidden fees, insurance that only makes installments more expensive, lack of transparency about interest rates... You can make a huge list of the complications we find in current products.

In this way, we created a completely new personal credit experience that gives the customer security and autonomy throughout all stages.

It has been available to our customers since February 2019.

In our app, we offer a real-time credit simulation: you say the amount you need, choose the number of installments and instantly see the interest and the total monthly amount you will pay.

With Nubank credit, you are in control from start to finish – and you get exactly what you signed up for.

No fine print. No impatience. You have autonomy and transparency to manage your credit at all stages:

• Control when choosing: through the app, the customer makes simulations simpler and easier to supervise. So, you can even analyze exactly the value of the interest rate, adopt the number of installments, the value of the installments and the payment dates. You can simulate many possibilities, as many times as you want.
• Control when hiring: transparency and accessibility of information so you know exactly what you are getting. The information you want to know is constantly highlighted and, if everything is as you expect, the contract ends in 2 clicks. From there, the money goes into NuConta – our free digital account – instantly!
• Control when paying: an effective way for you to analyze how much you have already paid and how much you still have to pay. If you want to make a payment in advance, simply choose the installments to receive the interest discount. Everything through the app, done instantly.

As this new product is in the testing phase, initially only a few customers will have access to it.

We want to learn together with our customers what is the best way to provide a loan product.

• First, some Credit Card and NuConta customers will be able to analyze their choice in the app. This is an initial testing phase, so we can learn how our customers will behave with this new product.

Our intention is to make the choice of personal loans available to as many customers as quickly as possible, however we also do not have a great forecast of when this needs to happen.

If you are already a Nubank customer, just pay attention to the app to find out if access to credit has already been released. If it is not released to you either, you will need to wait. The moment this occurs, you will receive a notification.

What is the limit to pay Nubank credit?

Throughout the simulation, you choose the first payday. It can be up to 90 days after the day of hiring.

The customer can adopt credit installments in up to 24 installments – and always has the freedom to advance as many installments as they want.

With Nubank credit, there is no mandatory minimum number of installments. If you managed to plan to pay off the crime beforehand, you can hasten payment at any time.

Whenever an installment is paid in advance, the discount appears immediately, in the app itself, and you see how much you saved on the final amount.