Since September 26, it is possible to take a Payday loan with guarantee from. More than 37 million workers with a formal contract are entitled to the benefit.
Payday loans are an easier form of loan, as the bank is guaranteed a payroll discount. With the Guarantee Fund, the main benefit is to have more security in payment and, therefore, lower interest rates.
Other institutions may also operate the service.
To this end, banks must enter into agreements with companies so that workers can withdraw the loan.
Payday loan with guarantee – how does it work?
Workers with a formal contract are entitled to the loan. The limit depends on the balance available in the account. The guarantee works like this:
Reserved values are limited to the sum of:
- 10% of the balance available;
- 100% of the termination fine in case of unfair dismissal (40% of the fine paid).
In other words, if the employee is dismissed, the bank takes the 10% available on account and the 40% fine paid in case of unfair dismissal as a guarantee.
Interest on the payroll-deductible loan guaranteed
Payroll interest is already lower, and if the guarantee is higher, the risk is lower, this is what happens with security. With values lower than that practiced in the market, the worker can find:
- Interest between 2.63% to 3.5% per month (determined by law);
- Interest will be calculated according to the profile of the employer and the customer (individual).
Pay attention to the conditions to have access to the Payday loan guaranteed:
- Company must have an agreemen;
- Worker must have consignable margin;
- Employment relationship with the company, at least 12 months;
- Receive the salary;
- balance compatible with the amount of the consignable loan.
Is the Payday loan worth it?
For those who have debts with a credit card, overdraft or other accounts that have huge interest, the Payday loan can be worth it.
You exchange a high-interest debt for one with lower rates. The tip to stay well with your economy is to hold expenses and be aware when using your credit card.
You who work in the private sector and have a formal contract, did you like to know this new credit option? Tell us here what you think of the Payday loan with guarantee. Any questions, leave them below in the comments. To the next!