More and more people are using credit to buy property, settle debts or carry out projects.
If you are negative or self- employed and do not have a way to prove income, getting a loan can be difficult and very expensive!
If you, the reader, are about to purchase a property, whether it is in installments, financed or even going through a financial emergency, it is worth knowing the payroll loan modality. Primarily for the lower interest rate compared to other options, this feature can offer several advantages to the consumer.
Are you interested in the payroll loan but don’t think you understand it right? Not sure about something? Doubts are part, it is important to know some details that make all the difference. Learn All About Payroll Loan : And Payroll Loan what it is, who can take it, and strategies for not getting it wrong .
Payroll loans can be a good option for your investments
Payroll loans are provided to retirees, INSS pensioners and civil servants. It may also be directed to contractors in private companies that have agreements with banks or some other financial institution.
In the case of retirees, pensioners and civil servants, there are more advantages, as banks generally understand that the financial stability of the members of these groups is greater.
In practice, this means that if the consumer is part of one of the groups mentioned above, he can get credit even if he is negative. The amount varies according to the consignable margin of the citizen.
Payroll Loan for Negative: Is it worth it?
Considering the current scenario of the country and the difficult economy, making such a credit can be a good alternative for those looking to pay off debt or even make investments. Interest rates are lower than options such as overdraft, credit card or personal loan.
It is common to see people using payroll loans to focus multiple debts into one. That is, the person pays all other bills and is only in debt to the financial institution or bank that released the payroll.
One of the differentials of this option is the way the money is charged to the consumer. Monthly installments of debt come out of the citizen’s salary or INSS benefit. That is, during the loan repayment period, this discount cannot be avoided. Thus, banks feel safer in releasing this credit.
Financial planners explain that this is a guarantee that banks will receive their money, generating less risk and allowing institutions to charge lower interest rates than other lending models such as staff. Because they have this guarantee, many institutions offer the loan even to those with a dirty name. As such, there is much less paperwork in the process of getting this credit.
Know the advantages of Payroll Loans
One of the advantages of this financial resource is that after using it to clear your name, for example, you can continue to have access to installment payments in stores, as well as financing of cars and real estate.
You do not need to have an account with the bank where you want to apply for the loan.
Another positive aspect is the fact that, as previously mentioned, payroll installment money is discounted directly from the consumer’s payroll. With this, many banks facilitate the loan process, even if the citizen is negative and, consequently, there is no need to look for personal credits, such as Crefisa, which has high rates and ends up being expensive for the interested.
Currently, the payroll deductible credit limit is 35% of the employee’s payroll. That figure was 30% by 2015, but was changed after sanction by President Dilma.
This extra 5% can only be used to pay for credit card charges. That is, in addition to the worker being able to apply for a credit from the bank equivalent to 30% of what he earns per month, as before, he can also commit another 5% of his salary to pay his credit card debt, which has very high interest rates. Higher.
If for some reason the citizen is unable to pay the installments, it will be necessary to renegotiate the agreement directly with the bank. One alternative is to ask for the extension of the number of installments or, in the latter case, to make a second loan to repay the first.