Loan consigned from afar is with lower interest rates when we speak of credit for individuals, just look at the numbers in relation to other modalities that we already know that there is an advantage. You do not have to do it, but you need to be aware, the Cash Pledge is 1.93% and the real estate loan and vehicles are around 1.15% and 2%. So if you do not have these guarantees to give to the lender, it goes from the same consignment.
The problem with paycheck is that not all citizens can or do have access to the credit they have released, it is necessary to be included in some categories or classes in order to borrow the loan, for example: who receives incomes such as pension and social security pension, or proceeds, by means of payroll sent to the bank as the servants and military.
In this way, as long as the payment is paid every month, the monthly payment is deducted even before the money falls on the account of the citizen who requested the loan. As the credit risk to the bank is small, almost zero, the interest rates are offered lower than personal credit or overdraft.
Consigned to lower interest rates
For payroll loans granted to retirees and pensioners of the Social Security and federal public servants, there are rules for the collection of interest, that is, it has a maximum ceiling for which banks and financiers cover the borrower. At the end of September, Ministerial Order 309 of the Ministry of Planning, Development and Management set the maximum interest rate at 2.05% per month or 27.57% per year for federal civil servants. We took a look at the site, and you do not waste time, we offer some of the most important rates, see below:
Checked rates retired
For social security beneficiaries, retirees and pensioners, the approved limit for interest prepared by the National Pension Board is between 2.08% per month or 28.02% per year. Now for those who want to know more about how interest rates of all types of non-factored loans and loans in general go, the Central Bank website informs the rates of most financial institutions, to access click here.
In the spreadsheet below, it is possible to see that loans assigned to civil servants have very attractive rates, they are well below the 2% per month imposed by the regulator, of course there are other banks that do this modality however, the country’s top four banks, are offering below-the-ceiling payroll of 2.05%.
Interest on the payroll is excellent, especially if you have a bank account with a special check, if using the account money, the repayment is over 12% per month or 300% per year on the credit card, the revolving credit is around 10% per month or 214% per year. And even for those who are personalized or exclusive customers in banks, personal credit is not less than 4% a month or 60% a year, that is, still very expensive.
Taxes consigned public servant
The period for reimbursement of the financing is 72 months, or 6 years, for retirees and pensioners of the social security, and 96 months, or 8 years, for civil servants in general. Loan with longer terms are not a good choice, the difference in cash is very little, but the debit balance increased substantially.
Private employees, if you are a salaried employee you can also use the payroll if your company has an agreement with a bank or a financial institution. Talk to HR, if you have it, the payroll has no interest charge limit, but even so, the fees are much lower than the rate your bank wants to lend you.
Private sector payroll taxes
You already know, loan is loan , even with lower interest, that is, get 10 and pay 15, 17, there is no way. So do not have this low interest facility as an alibi to take out loan without need or without responsibility, compromise your financial life with long or too high benefits.