The payroll loan is already one of the most requested loan modalities in the whole country. It is widely disseminated among INSS Beneficiaries and Public Employees, many people still do not know how the payroll loan for Private Employees works .
The private payroll is available to those who work in private companies that are contracted to some financial institution. Therefore, it is not offered to every private employee.
This credit is known to have your installments paid automatically. That is, every month the amount referring to the monthly payment of the credit is deducted directly from the employee’s payment.
And that is why the company must have an agreement with a bank, first so that the contract can be registered and then for the discounts and transfers can be made.
If you want to learn how payroll loan works continue reading this content and clarify all your questions right now!
What is and how does Private Payroll work?
Both public and private organizations can make payroll loans available to their employees. To do this, just keep an agreement with any financial institution.
Private Consignment, therefore, is the name given to the credit assigned to employees of private companies.
In this way, employees have access to a loan with one of the lowest interest rates on the market. As for the amount borrowed, each client has a maximum amount that can be offered, according to the salary received.
This is due to the assignable margin, which was stipulated by law . Therefore, every employee, whether public or private, can spend a maximum of 35% of their net monthly income with credit assignment.
Within this amount there is still a division: 30% is for loans while the other 5% is for a payroll deductible credit card . That is, the salary of each one determines how much can be spent, per month, with the private payroll.
Who can apply?
The payday loan presents benefits that are interesting to any client, such as low interest rates and extended repayment terms .
But if the person concerned works in a company that does not have a partnership with any bank, the loan can not be requested.
Otherwise, if the employer has an agreement, the employee must first contact the Human Resources Department. It is the HR team itself that contacts the financial institution to sign the contract.
The private worker can not choose the bank where he wants to take out the loan. Except if, the employer had an agreement with more than one institution.
It is worth mentioning that the employee must have, at least, on average, three months of a formal contract to be entitled to the payroll loan. Another important point is that the payroll loan is optional, and therefore optional and worker choice.
What is the payment term?
Before hiring any loan, it is always interesting to research. Knowing how payroll loans work in relation to payment terms can help you make a better decision, for example.
Private workers have, on average, up to four years for the discharge of credit.
That is, it is about 48 months to repay the loan. Some banks, even, allow the first installment to be paid within 60 days after hiring.
What is the maximum value of the parcel?
There is no pre-determined value for the monthly installments. What regulates the value of each benefit is the assignable margin in relation to the salary of the interested party.
For example, an employee who receives monthly R $ 2,000.00 can have consignment loan installments of up to R $ 600.00. To find out the maximum value of each installment simply multiply your net salary by 0.3, which is equivalent to 30%.
What are the main benefits of the Private Payroll Loan?
Who already knows how the private payroll loan knows all its main benefits. So, this model of credit is interesting for those who want to pay more expensive debts, enter a valuable asset or even take out paper plans.
Understand the benefits of this modality, in relation to the others.
Lowest personal loan interest rates
The interest rate is the main benefit of this loan. On average, with bank-to-bank variation, interest rates are between 1.40 and 3.50% per month. That is, one of the lowest in the market .
A personal loan is currently charging around 4.5% interest a month. That is, compared to private payroll loans, in some cases, the personal loan costs almost double.
In addition, there is an enormous practicality in paying the installments of credit. That’s because, the payment is made through automatic rebates. Therefore, the customer does not have to worry about invoicing bills every month or with late fees.
Possibility of using the as a guarantee
Every employee can now use up to 10% of their total FGTS balance as collateral for the private payroll loan. And, the higher the value available for the guarantee, the lower the interest rates charged.
This, because, the bank considers the operation low risk. Therefore, using the FGTS as collateral is a great way to save even more with the hiring of a private payroll loan .
In addition, if the employee is dismissed without just cause, he may use the entire fine for the discharge of credit.
It is worth noting that when the employee is disconnected from the company, the loan becomes his full responsibility.
Release of credit for negatives
Since payroll deductible loan payments are made through automatic rebates, banks do not need to make prior credit analyzes.
Thus, the payroll deductible loan is released even for those who are also negative . There is no consultation with SPC or Serasa.
To hire the payroll loan, the worker must have available margin. That is, not having yet used the full limit allowed and presenting the basic documents. Among them, RG and CPF, proof of residence and income.
Even your hiring is simplified. Know more.
Make a Simulation of Private Payroll Loan Online
The best way to understand how the private payroll loan works is through an online simulation . This tool allows you to quickly compare different credit options.
In making a simulation the worker can evaluate, for example, several payment periods and analyze the interest rates that are charged in each situation. You can also compare the Total Effective Cost of any transaction.
Private employees working in a company affiliated with a bank should always research on the possibility of hiring a payroll loan.
With benefits ranging from lower interest rates to payroll deduction, payroll deductible credit is one of the best personal credit options.
Escape from high interest rates. Exchange the most expensive debts. The payroll can be used for whatever you want!
Now that you already know the main rules and benefits of this credit, how about finding a perfect loan for your pocket? Using the payday loan simulator online you will find, free of charge, personalized proposals within minutes.