Payroll loan or payroll loan is a type of loan where the payment method is carried out indirectly every month, being deducted from any means of maturity of the user.
This is a form of loan that can be obtained from banks or finance companies and its duration cannot exceed 72 months (six years).
The payroll loan can also only be made by people who have a formal employment relationship with a company and it offers this benefit in partnership with a bank. It can also be done by those who are public servants, retirees or pensioners of the INSS.
The main difference between the payroll loan and other forms of loan is that its installments are paid through the discount in the payroll or INSS benefit, so that the user will have less money in their account, as they will not be able to avoid this discount.
See the meaning of INSS.
It is also charged with interest and other charges that vary according to the contracted amount. In addition to fees, the Financial Transactions Tax (IOF) is also charged.
See also the meaning of IOF.
This is a way adopted by banks and finance companies to guarantee that they will receive the installments normally, avoiding the risk of default by beneficiaries.
However, there are always some doubts about the amount that can be requested in this type of loan, as well as how much will be deducted from the payroll. For this, banks offer online credit simulators so that you can calculate these values.
