Find out which loan to apply for
Being negative in the market can have unpleasant consequences in everyday life. According to data from Serasa Experian , only in August 2018, the amount of debt in Brazil reached about R $ 274 billion. And the average amount was R $ 4,453 per debtor.
In this post, will explain how to get easy and fast credit at the lowest rates and market conditions, even for those who are in default.
Anyone who is restricted in name and wishes to apply for a Personal Payday loan
Anyone who is restricted in name and wishes to apply for a Personal Payday loan knows that most financial institutions deny credit. That is, before releasing a loan, the banks perform an analysis to the agencies like SPC / Serasa. The goal is to analyze the risk of releasing an extra credit to someone based on your payer history.
If the client is enrolled in these credit protection agencies, the loan may be denied. However, there are some institutions that grant credit to negatives. But as statistically the risk of is higher, the interest rates will be higher.
Since financial institutions have a greater guarantee of payroll deductible loans, interest rates are reduced . That is, they are more attractive if compared to the interest of other modality of Personal Payday loan.
The revolving credit card and overdraft, for example, can reach up to 300% interest per year, according to data from the Central Bank. On the other hand, the payroll interest rates are around 2.10% per month . In addition to being pre-fixed at the time of hiring. In this way, you know the Total Effective Cost of your loan, as well as the amount of the installments from the beginning to the end of your contract, which will not change
The assignable margin consists of the maximum percentage of deduction of the applicant’s income that may be directed to the payroll deduction. As a way to protect the borrower from over-indebtedness, the margin is stipulated by law and is set at 30%. In addition, it aims to ensure that the applicant maintains a sufficient amount for the most basic expenses.
Payroll installment terms are flexible to ensure that the installment amount fits into the borrower’s budget. There are up to 72 months for INSS retirees and pensioners and up to 96 months for public servants. The longer term allows for smaller installments and the release of a higher credit value.
In addition, the applicant still has the possibility to anticipate the installments of his payroll loan if he wishes. That way, the Total Effective Cost of your loan will be lower. That is, in this case you will have discounts on the interest that would be applied and the debt will be paid off in a shorter period.
Knowing which loan mode gives you extra money for those who are not, it is easier to know which loan best fits your condition. So, know the ways to apply for payroll deductible credit .