You, a registered employee, have certainly heard of payday loans, right? It is a much less bureaucratic way of obtaining loans. But do you know how to calculate the consignable loan margin?
It is necessary to understand that there is a discount limit on your pay stub, for loans. This is called the consignable margin. That is, if the consigned margin is already committed, it will not be possible to obtain new loans – at least until the settlement of the outstanding installments and release of the margin.
In our post today you will learn a little more about the payday loan, for whom it is indicated and how to calculate the consignable margin.
Who is the payday loan indicated for?
Unlike other loan lines, which are available for different profiles, the payday loan is especially dedicated to civilian and military civil servants (active or inactive), pensioners, retirees and employees of private companies that have an agreement with some banking institution.
The payday loan is characterized by the discount of the installments directly on the payroll or benefit of the applicant . Thus, the creditor reduces, even if not in its entirety, the default risk.
The guarantee for the receipt of the payday loan by the lender results in a considerable reduction in the interest rate. It is a rule: the lower the risk for the institution, the lower the interest rates applied.
Can domestic workers obtain payday loans?
When talking about the possibility of payday loans for registered workers, there are some professional groups that, even with the proper registration, do not obtain advantages in hiring the resource. Domestic workers are a clear example.
It is worth saying that through the regulation of this professional category by the Constitutional Amendment 72, of 2013 – which protected access to all labor rights, such as vacations, 13th salary, FGTS and a 44-hour week, for example – domestic professionals have total proving income and, theoretically, they would be able to apply for payday loans.
However, even with all acquired rights, domestic employees still encounter some resistance from banking institutions. These, in turn, do not evaluate this group of workers as potential, denying – in most cases – personal or payday loans. The lack of an agreement between the financial institution and the employer is one of the technical impediments that results in the negative.
If you fall into this situation, both on the part of the employee – who does not feel comfortable asking for a loan from the bosses – and the employer – who cannot commit the budget with outflows of money not foreseen in his planning – we have a solution!
Main advantages of the payday loan
When opting for a payday loan, you, worker, enjoy some advantages and benefits that are not available in other lines of credit. See some of them:
Without consulting private credit checker
As the loan installments will be discounted directly on the sheet, the lender is not at risk of lending the amount. Therefore, even those with name restrictions can easily access the credit line .
Reduced interest rates
With the guarantee of the payroll discount, the institutions are assured of the monthly payment of the installments. Therefore, they are less at risk. In this scenario, interest rates become much more attractive than in other modalities, such as personal credit.
It is worth noting that even lower interest rates differ according to the applicant’s employment relationship. You can check them out here .
In payday loans, the amount is released in a short period of time. As external evaluations are not necessary, since the information for consultation is available on the banking network itself, the amounts are credited to an account between 24 and 48 hours .
The term depends, exclusively, on what was entered into in the contract, in the institution’s internal policy or in the annotation – which is the acceptance of the paying institution and authorization of the discount in the paycheck or benefit.