Who can Make a Payday Loan?

 

Since the payroll loan is automatically deducted from the paycheck or monthly benefit , it is necessary to have proven fixed income, ie, financial stability.

Thus, provided they have income and assignable margin , the groups that can apply for a payroll loan are:

  • Retirees and Pensioners (INSS beneficiaries);
  • Public Servants (Federal, State and Municipal);
  • Military of the Armed Forces;
  • Workers with a formal contract (private company);

Each eligible category or group has some specific hiring rules.

Find out then who can do a payroll loan and what is needed to simulate and hire your online .

 

INSS retirees and pensioners

INSS retirees and pensioners

Retired is one who receives a benefit (retirement) having contributed to the Social Security for a certain period. Pensioner is the one who receives a benefit (pension) as dependent of someone who received retirement.

INSS beneficiaries may contract the INSS Payroll Loan, with cheaper interest rates.

The monthly sum of the amount of the installments can not exceed 35% of the amount received. Of this amount, 5% is exclusively destined for use in payroll-deductible credit card .

The INSS margin is deducted directly from the benefit statement on a monthly basis. This document also includes information on the contracts, amounts and installments paid and remaining.

The payment term is 72 months and the interest rate of maximum 2.08% per month , as regulated by the INSS .

Generally, according to the banks’ credit policy, the maximum age allowed is 80 years.

One of the differences between other types of loan is that, in the case of payroll, the loan can only be contracted in the authorized banks.

It is also important to be aware of the consignable benefits . For, not all species or categories of INSS benefits, between retirement and pension, are accepted.

 

Federal Public Servants (SIAPE), State or Municipal

Federal Public Servants (SIAPE), State or Municipal

Server or Public Employee corresponds to those who maintain working ties with governmental, political-administrative entities, municipalities and foundations of public law.

The performance of the Public Server can be at Federal, State or Municipal level. The rules are valid for active, inactive, retired or retired servers.

Payroll loan contracts for this category are: unlimited up to the ceiling of 35% of the rent, can last up to 96 months and the nominal interest rate is a maximum of 2.05% per month .

The discount of the monthly installments is made directly on the paycheck. For this, it is necessary that the paying source has an agreement with the financial institution of interest.

 

Military of the Armed Forces

It refers to members of an organization that is authorized to use force, in the defense of the country, as Army, Navy and Air Force Forces, for example.

Although the loan assigned to Military (active or inactive) will also be conditioned to the assignable margin, there are options for those who do not have more margin.

The terms vary between three and 96 months and rates from 1.50% per month .

 

Workers with a formal contract

Workers with a formal contract

In the case of the private payroll loan (available to employees governed by CLT or contractors), the payment term varies from bank to bank.

The average interest rate charged is between 1.40% and 3.50% per month.

To hire this credit you must have a minimum amount of time to sign. This is a guarantee that banks have of financial stability.

No company is required to offer its employees the benefit of the payroll loan. Therefore, the interested party should contact the Human Resources department in advance if this advantage is available.

With the resignation or bankruptcy of the company, the debtor balance is then assumed by the debt taker. In this situation, the holder will be responsible even for the transfer of the value to the banks. One of the recent novelties is the use of FGTS for this type of discharge .

Find out what required documents are required for this type of operation.

 

What documents are needed to hire the Payroll Loan?

What documents are needed to hire the Payroll Loan?

To get credit or paycheck card, the interested party can carry out simulations online. Thus it is possible to discover the credit limit or value of the parcels.

In addition, some basic personal and financial data and documents need to be made available. This documentation is verified in the credit analysis so that the credit can be approved. Check below the checklist, by category, of the documents needed to carry out a new loan:

Retirees and Pensioners

Simple and / or digitized copies of:

  • Photo identification document (RG or CNH);
  • CPF (if not in the GR);
  • Proof of Residence or Declaration of Residence (for clients residing in rural areas), valid for less than 90 days;
  • Letter of Concession or Benefit Card or Extract of Account where proof of payment (INSS);

Public Servants – Federal / SIAPE, State and Municipal

Simple and / or digitized copies of:

  • Photo identification document (RG or CNH);
  • CPF (if not in the GR);
  • Proof of Residence or Declaration of Residence (for clients residing in rural areas), valid for less than 90 days;
  • Updated countercheck ( issued via SIGEPE Server and Pensioner by SIGAC ), in the case of Federal Server (SIAPE);
  • Updated contracheque, in the case of State and Municipal Public Servants (based on the agreements);

Military of the Armed Forces

Simple and / or digitized copies of:

  • Military identification document (military identity);
  • CPF;
  • Proof of Residence or Declaration of Residence (for clients residing in rural areas), valid for less than 90 days;
  • Updated contracheque;

Workers with a Signed Portfolio – CLT

Simple and / or digitized copies of:

  • Photo identification document (RG or CNH);
  • CPF (if not in the GR);
  • Proof of Residence or Declaration of Residence (for clients residing in rural areas), valid for less than 90 days;
  • The last three months’ paycheck.

With the ease of simulation and hiring processes online, much of the process can already be done online, giving more agility, including for the release of credit.

The term for release of money may vary depending on the endorsement , but occurs on average within 72 hours after signing the new contract. In the case of portability of credit, this average term is 15 working days.

Understand other features of the payroll loan.

Other features of this line of credit

Other features of this line of credit

Although it is more accessible, this operation is not possible in some cases, such as: non-assignable benefits (temporary, sickness, maternity wages, Disability Assistance Assistance (LOAS) , among others) and informal activities (provided by self- record).

The banks available will depend on the agreements signed with the paying sources. But the good news is that the supply has increased, meaning more banks are working with this modality – which also allows you to compare offers of credit.

Thus, it is not necessary to be a bank account holder. That is, even without receiving the salary or benefit in the same institution, it is possible to contract credit in the bank that has the best option.

Securing the best payday loan loan has become easier! Do your simulation by computer or mobile and discover the special conditions that only us has for you!

 

Do you want to make a payday loan?

Do you want to make a payday loan?

We can help you hire the payroll you need! Compare payday loan proposals from different banks and choose the best one for you.

 

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