What is personal check loan?

Fewer and fewer we hear people talking about check payments and even cash. The card became a great ally of the consumer in the debit and credit functions and so the bead was losing that space in the wallets. But there are still people looking for a personal loan with a check and we’ll explain what kind of credit this is, whether it’s worth it or not.

Personal loan by check

Personal loan by check

Personal Check Loan is a type of credit that is usually indicated for people who do not have a checking account. Installments of this type of personal loan are paid with daughters of checks that are delivered at the time of hiring.

This means that if you take out a 12-check payday loan, for example, you must hand over the 12 completed check sheets at the time of closing.

Necessary documents

Personal documents such as ID, CPF, proof of income and proof of residence are usually required, but this varies by financial.

Worth it?

credit loan

The postdated check is a verbal agreement, not really existing. This means that when making a loan of this type the consumer can not have full assurance that the debt will occur only on the due dates. In addition, it is possible that the check ends up in the hand of others and causing headaches.

Always remember, a check is a cash payment order. This means that it must be paid by the bank when presented, regardless of the date of filing.

It is also worth noting that if the check is cashed and there are no funds in the account, it may be protested and thus the consumer will have his name negated in credit bureaus, such as SCPC, Serasa, etc.


To apply for a personal loan online you must have a checking account to receive the amount to be contracted. In addition, when applying for credit at Monico, the borrower must provide proof of his income, which includes sending a bank statement for the last 90 days.

If you are looking for a personal check loan because you do not have a checking account yet, we suggest opening a basic checking account with a bank of your choice. This account is free and includes basic services standardized by the YearSave Bank.