Intended for workers with a formal contract or retirees or pensioners of the INSS, the payroll loan is still a source of many doubts among people who wish to acquire this type of credit. Here’s some insightful information on the subject:
What is payday loan?
Unlike the ordinary loan, the payroll deducts the amount of the direct portion of the benefit or salary, that is, the bank is guaranteed payment of the credit. And it is because it offers little risk to the bank, that this line usually has much lower interest rates.
Can I make the consignment loan?
This modality is only intended for workers with a formal contract, civil servants, retirees and pensioners of the INSS. Emphasizing that, for public employees, retirees and pensioners of the INSS, the rate is usually lower because of the financial stability of this public.
Do I need to be a bank account holder?
No. The user does not need to have this type of link with the bank to be hired.
In what places can I hire?
Registered employees can go to the company’s human resources department and question the locations agreed upon for the loan. Beneficiaries of the INSS and public employees may go directly to banks that offer payroll deductible loans.
To release the amount, will the bank perform the credit analysis?
Yes. Even if there is a guarantee of the debit of the installment in the account, the bank performs the analysis to verify its history and decide whether or not to release the value.
What is the credit limit of a payroll?
According to the Central Bank, there is an assignable margin that jeopardizes up to 30% of the total value of the salary or benefit. Thus, if the person receives $ 2,000.00 month, the maximum amount of the installment will be $ 600.00 per month.
And if I can not repay the debt, what do I do?
If you find it difficult to pay the following installments, contact the bank and request a debt renegotiation. Depending on the situation, picking up a second loan to take out the first loan may be an outlet to consider.
For retirees and pensioners, is payroll only available at Caixa Econômica Federal or can I get it from other banks?
In addition to Caixa Econômica Federal, other banks also rely on this credit line, allowing the client freedom of choice. Just consult which of them have an agreement with Social Security. See this link.
Can I make more than one loan at a time?
This doubt is quite common. It is possible provided that the value of the installment does not exceed the consignable margin of 30% of the value of the benefit.
What if I happen to lose my job during the current loan agreement?
It should be remembered that the debt still remains active, that is, it is not canceled and the remaining balance of the installments should be paid.
Are interest rates on this type of loan determined by law or is there variation?
In fact, they can vary from bank to bank. Ideally you should do a comparison and analyze which are the most advantageous.