What is payday loan? The payroll loan , also called payroll loans , is a form of loan that can be done by any worker under the CLT regime, by public or private companies, and also by retirees and pensioners of the INSS. The integral loan is carried out, and its payment is made directly on the paycheck, where the value of the installments is deducted from the salary. The payroll deductible loan can be requested from any bank or financial institution, and there is no need to have an account with the bank chosen. The financial sector of your company will be responsible for passing the money to the bank, while this amount is discounted in your paycheck, reducing the risk of default and having your name dirty in Serasa, as payment is made automatically.
Workers wishing to hire the payroll loan can search the Human Resources area of their company, it will do the intermediation between their needs and the bank / financial.
No need to look for banks
Retirees and pensioners are the only ones who should look for the banks that carry out this operation.
What to do to get payday loan
The rules of operation are as follows:
- No maximum amount is stipulated for the loan. This depends on the salary and the deadline for payment.
- The value of the benefits should not commit more than 30% of the monthly salary of the loan contractor.
- The benefit limit is not stipulated, but it generally ranges from 6 to 36 benefits.
- The benefits are monthly and with pre-set amount.
- Interest is negotiable, but is generally between 1.5% and 3.5%.
- The bank that carries out the loan need not be the one in which the worker or pensioner receives the salary.
- The payday loan can be done by people with debts and dirty name. Many ask for the loan just to clear their name in the square.
Important information and precautions
- The interest is lower than the credit card and the overdraft. The payroll loan can be used to pay off these debts.
- The loan should be made only in case of real need. Remember that you will be deducting a value from your salary for several months, and that expenses will remain the same.
- Retirees and pensioners should avoid favoring third parties because the payroll loan is easy to obtain.
- Compare interest rates and see if the loan pays off by asking the following question: what net amount will I receive paying $ 100.00 in 24 months? You will pay $ 2400, but will you receive how much?