Among the many personal loan options available, it is even difficult to choose the best loan to meet your need. However, if you are retired and are looking for extra cash, secure and faster release credit, be aware that payroll loans may be the best solution for what you need!
Therefore, in this article we will bring some tips for you to make the right choice of your payroll loan. Check out!
How does the payroll loan for retirees work?
The payroll-deductible loan is deducted directly from the INSS payroll and has lower interest rates than other types of personal credit.
Also, it can also be requested by negatives.
Therefore, to make the loan to retire you must be aware of the family budget, ie, the monthly installment of the debt can not exceed the limit of 35% of the monthly income of the applicant, and 30% must be allocated to payroll loan INSS and 5% to the payroll credit card.
Tips for Choosing the Best Payroll Loan for Retirees
Check out some tips that will help you solve the main questions regarding this type of credit:
Compare the different interest rates
Before contracting the loan it is important to compare the different interest rates and the Total Effective Cost (CET).
For a lower interest rate will not always be advantageous if all other costs are higher, for example.
Check payment deadlines
Retirees and INSS Pensioners have up to 72 months to repay the debt. This is the maximum time allowed, but it is important to assess whether the conditions offered really fit the budget.
The longer the term, the higher the value of interest rates. Therefore, the retiree will also compromise the income for longer.
Check the maximum hiring age allowed
They can borrow payroll loans for retirees, beneficiaries up to 80 years old.
Most financial institutions allow loans for people over the age of 70. However, banks that accept loans for people over 80 are already rarer.