Caixa Geral de Depósitos or CGD (The acronym by which it is known) is a historic financial institution in Portugal. Its founding purpose was linked to financing public works, but over the years it has expanded its services with highly advantageous products on the market. Therefore, today we have selected the institution's personal loan to discuss. Stay tuned, check the details below and finally, learn how to apply for yours. Check it out.

Solicite o seu crédito pessoal pelo banco português CGD
CGD Social Credit Source: ChatGPT

An overview of CGD.

It all began on April 10, 1876, when the Caixa Geral de Depósitos (CGDIt originated in the territory of Portugal. As mentioned, in its early stages the objective was to finance public works, and over the years it has only proven its prominence and importance for the economic development of the country.

In its early years, the institution focused on granting mortgage-backed loans and attracting deposits. However, with the arrival of the Republic, its operations, products, and services expanded, and it gained more strength and power. The years only brought more modernity and growth to the institution, and that's how it gained an international presence as well. Today, we can point to it as a sponsor of cultural and sustainability initiatives.

Everything about the CGD Express Multipurpose Personal Loan

Despite the offers from CGD While there are many options available today, we will focus on just one: the Multipurpose Express Personal Loan. To provide a detailed overview of this product, we present the following specific characteristics concisely and objectively below. Take a look:

  • The amount available for loan ranges from €3,000 to €75,000;
  • Your payment can be split from 24 months (2 years) up to 84 months (7 years);
  • The interest rate is always fixed;
  • Your request will be answered within 24 hours of receiving all the required information and documentation, provided it is a business day.
  • After the response, analysis, and signing of the contract, the money should be released within 48 hours on business days;
  • Finally, policyholders of this product can also access life insurance (provided they are between 18 and 80 years of age) and protection insurance (between 18 and 64 years of age), but each can be accessed under different circumstances (the first in case of death or disability and the second in case of sick leave or involuntary unemployment).

However, despite these seemingly incredible features, we can still point out some disadvantages associated with the product. See below:

  • If market interest rates fall, you could be harmed by this fixed rate;
  • The purposes for which you can apply the feature are more restricted;
  • You may still incur some additional associated costs;
  • The review of the application is quite detailed, which may cause some delay or even rejection if the required criteria are not properly met;
  • Like any loan, you are subject to debt risks;
  • Insurance companies also charge an additional fee;
  • You need to have a stable source of income.

Keep in mind that there may be more advantages and disadvantages, but you can analyze this better on the institutional website or by contacting the bank. CGD. 

Finally, see how to apply.

Before we detail a complete step-by-step guide to requesting your product, we have listed below some essential requirements for you to be eligible. See below:

  • The applicant must be between 18 and 80 years of age;
  • Residing in Portugal;
  • Present your identification, proof of address, and income documents;
  • To demonstrate financial capacity;
  • To be free from defaults and negative credit reports in your name.

Once you meet each of these prerequisites, see how the application process works through the digital portal of... CGD: 

  • First, access the bank's official website and go to the "Express Multifunctional Personal Loan" tab;
  • Once you've done that, carefully read all the information on the screen; 
  • Now click the “Simulate” button; 
  • Fill in all the required information; 
  • Send your request;
  • Now just wait for the evaluation and your response. 

As you can see, it's a super simple procedure through a very intuitive interface; however, in case of doubts, the institutional portal also offers ways to contact the institution and thus have all your questions answered conveniently. 

Apply for your Express Multipurpose Personal Loan

You will be redirected to the official website.