A payroll loan is one of the most affordable options on the financial market for those in debt, but not everyone can take out this type of loan.
Before we talk about the possibilities of finding a loan with lower interest rates, let's explain a little about how this specific type of loan works.
How does the payroll loan work?
Basically, it is a loan intended for INSS retirees and pensioners, public servants and pensioners of federal, state and municipal agencies, military personnel and pensioners of the Armed Forces, in which the installments are deducted directly from their payroll.
Normally, banks set the maximum value of your monthly installment (which is the assignable margin), this is according to the agreement stipulated between the PAN and the paying source in which you are included.
Most affordable interest rates on the market
Rates vary depending on your payment source and, of course, the amount you need. However, banks like Itaú, Caixa, Bradesco, and Santander are leading lenders.
The possibility for a customer who has a credit transaction with a Financial Institution to transfer it to another, provided that the value and term of the transaction at the new Institution are not greater than the outstanding balance and the remaining term of the ported credit transaction.
Online payroll or personal loan?
We recommend Banco Pan, as it has incredible facilities for all consigned customers, remembering that to be entitled to the consignment you must first have an effective link with some government agency.
Some private companies also offer loans with an agreement with a bank. Private companies usually offer payroll loans to employees with more than 1 year of service.
If you would like to know a little more about these transactions, Click here, as we have special articles on this topic.