Much has been said about Payroll Loans, personal credit line that have become increasingly popular in the country, however, this is a form of credit that presents some specific rules. You may need to learn about how the Payroll Loan works and all its advantages.
How does the Payroll Loan work?
The payroll loan is one that has its monthly installment discounted directly from the salary or benefit. Unlike the conventional loan, in the case of this type of loan, the amount of the installment is retained, that is, guaranteed in advance by the bank, which automatically debits the monthly amount, directly in the payroll or social security.
The common amounts that can be committed in this operation, should not exceed 35% of the rent (considering all loans contracted and other financial discounts).
Check out how the payroll loan works in practice:
Approval and release of Payroll Credit
After the credit approval, signing the contract, registration the credit is released into the account indicated by the borrower. Thus, the money can be used for the purpose you want (different from the contract of a financing, for example, that has a specific purpose).
The discounts or payments of the payroll loan are fixed, that is, every month, at a certain date previously defined in the contract as the due date, the value of the benefit will be consigned (retained) by the bank. The amount of the deducted benefit must be included in the paycheck, payslip or payment statement.
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