Payday loan: everything you need to know
For a large part of the population, meeting basic daily needs has been increasingly difficult on the basis of just one salary. Unfortunately, disruptions in the budget can happen: the car breaks down or medical treatment starts, for example. On the other hand, people also want to have fun, travel with the family, invest in courses and that, of course, also means having more extra expenses.
It is for factors like these, that credit offers are so sought after in banks and financial institutions. In this post, we will talk about one of the most well-known modalities: the payday loan .
What is a payday loan?
It is a type of loan offered by banks and financial institutions, the installments of which are discounted directly from the contractor’s payroll or benefit . Its features are quite attractive:
- Monthly installment discounts cannot exceed 35% of your income
- Lower interest rates, when compared to other modalities offered in the market
- Low risk of default
- Concession to negative
- No guarantor or guarantor required
Who can apply for payday loans?
The payday loan is aimed at the following public: workers with a formal contract signed by private initiatives that have an agreement with a financial institution, civil and military civil servants (active or inactive), pensioners and retirees.
Civil servants, retirees and pensioners
If you are a public employee, retired or pensioner, it is easier to acquire extra money through payroll. In the case of civil servants, there is the freedom to seek a bank or financial institution of your choice. For retirees and pensioners, the bank from which you receive the benefit will guide which institutions are associated with the so that you can apply for the resource.
Private company employees
For private sector employees, the options are more restricted. You should look for the person responsible for the human resources sector of your company and check which financial institution they are affiliated with.
In this case, due to the lack of job stability, interest rates are slightly higher in comparison to pensioners and retirees, but even so, they are well below the others practiced in other credit mobilities.
Is it possible to release payday loans for domestic workers?
Even though domestic employees have achieved equal labor rights in many aspects and are able to prove their income, the vast majority of banks and financial institutions still do not qualify this public as an adequate profile to apply for the discounted loan.
Despite the restrictions, we have good news:
Are you a domestic servant who needs extra money but does not want to ask your boss and you think the payday loan would help you?
Or are you an employer and want to help your employee gain access to credit, without messing with your budget?
How to apply for the payday loan?
Contact any financial institution with the following documents: RG, CPF, proof of residence and income.
Remembering that it is very important that you have made a prior planning of expenses, because, due to the discounts of the installments, there will be a reduction in your income.