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Unsecured personal loan, a more flexible option

For you who need credit and want more freedom both at the time of hiring and at the time of payment, here’s everything you need to know about unsecured personal loan.

Have you gotten overdraft or had to pay high interest on the credit card rotary? Are you not comfortable placing your equity or car as collateral for a loan? Do you need a quick solution to help with your financial situation? If you have answered yes to any of these questions, unsecured personal credit can be a great solution for you.

What is unsecured personal loan?

What is unsecured personal loan?

Unsecured Personal Loan is an individual credit category that does not require you to place your assets (or your salary) in the purchase agreement as a way to secure payment. That is, you do not need to involve your car or your property in business as happens when you take out a secured loan.

More accessible than other types of credit

Unsecured personal credit is much more open to several consumer profiles. This is because:

  1. Unlike the home equity loan, the unsecured personal loan does not require you to have a property registered in your name to acquire the loan;
  2. Unlike when you take out a vehicle warranty loan, you will not need to include your car in the purchase agreement;
  3. To get your loan, you do not have to have a signed work permit or receive social security benefits. These are some of the requirements when hiring a payroll loan , for example.

Freedom to pay

Other loan categories have the payment of installments automatically deducted from your salary or benefit. This does not happen when you opt for unsecured personal loan. In addition, installments and maturity dates are generally more flexible and can be traded. In this way, you have at your disposal more autonomy to manage your money and to avoid that, in emergency situations, your savings are out of control. In the worst case scenario, you will not need to give your car or home to the bank if you can not repay the loan.

More competitive rates

If you’ve had a chance to check interest rates on special checks, you’ll know why they’re being criticized by many finance experts . This is because their value is much higher than the interest rates of other types of personal credit, including those of the unsecured personal loan. Overdraft interest rates are as much as 300% higher than what you would pay for an unsecured personal loan.

Faster hiring process

By now, you may have noticed that unsecured personal loan is practically a “free style” credit. Precisely for this reason, hiring becomes a much faster and easier process. You will only have to go through a credit analysis, without having to send documents like deeds, tuition and everything else. In addition, the process gets even faster when online loan services are available.

An exit to avoid default

In August 2017, an unprecedented survey of the Credit Protection Service (SPC Brasil) and the National Confederation of Shopkeepers (CNDL) was published on indicators of default in Brazil. The study found that approximately 60 million people are lagging behind their financial commitments in the country. This number represents almost 40% of all Brazilian consumers over 18 years of age.

Delinquency and the probable negative name can generate several disorders that are sometimes unknown to the consumer:

Credit Restriction


Once your name appears on the list of defaulters, any installment purchase, loans and financing may be refused. If it is not declined, you will likely pay much higher fees because of your default history.


If it was already difficult to get a job, not paying bills, can make it difficult to find. Companies can have access to the CPF of the candidates to investigate pending financial and other irregularities. And this can result in fewer options available for your professional growth.

For these and other reasons, it is advantageous to avoid delinquency as much as possible. The study “Defaulters in Brazil 2017: Profile and behavior towards debt” identified the main commitments in arrears between the defaulters and negatives interviewed:

All of the above commitments usually have higher interest rates than a personal loan. An unsecured personal loan may be a more convenient solution to get the lowest interest rate. So with a good strategy, you can prevent you from entering (or allowing you to leave) the list of defaulters.

Almost half of the respondents (47.7%) in the quoted research admits not being able to repay the debt in the next three months. Do not freak out. Make a plan to clear your overdue accounts. If possible, seek the help of an experienced professional to resolve the situation.

Tip: In case of any financial misfortune that makes it difficult for you to pay all bills, try to negotiate with your supplier and / or lender. You can achieve better conditions that can keep your name from getting dirty in the square.

Now that you already know more about payroll loans, look at these 5 tips to increase your chances of getting your personal loan approved . Do not forget: there are many other types of loans. Follow our publications and take advantage of what your savings can offer you.


Payroll Discount Loans: How Do They Work?


What Are Payroll Discount Loans?

The discounted loan, or consigned loan, has become one of the most sold modes by banks and financial institutions across the country. This is because this operation has a number of advantages, mainly for public employees, retirees and pensioners.

One of the facilities of this type of loan is that, as the name itself denounces, the installments are deducted directly from the contractor’s payroll. Therefore, the debt ratio is lower as well as interest rates, since the bank has more guarantees that the client will pay the debt without difficulties.

Any employee who works under the CLT scheme, that is, with a formal contract, can request the loan with a discount. There are no major constraints on values. What limits the credit is the monthly salary, since, by law, the installments can not exceed 35% of the net monthly income.

Those interested in taking a discounted loan should pay attention to the amount requested: installments can not exceed 35% of net monthly income.

How does it work and who can apply for this loan?

In addition to working with a formal contract, the employee must be in that scheme for at least six months to request the operation. Although the leaf discount loan is more offered to public servants, retirees and pensioners of the INSS, employees of private companies who have an agreement with the client’s bank, as well as members of the union of the category, can avail this type of loan.

If your company has an agreement, you only need to apply for the cash discount loan in HR. In these cases, a proposal is sent to the bank and, most of the time, it is approved, since the partnership guarantees the bank access to the payroll, which is necessary to obtain this type of loan.

In certain cases, the bank may reject the proposal sent by the company if it considers that the customer does not have good payment terms. This is because the installments can not commit more than 35% of the monthly income and the requested loan amount can not be higher than this percentage.

After approval, the loan amount is deposited in the current account and the following month, the installments are deducted from the employee’s payroll on the day agreed with the bank. It is important to take money into account on the scheduled date so you do not have problems.

Anyone who wants to, can also avail the loan directly at the bank, but financial institutions often give preference to contracts entered into in partnership with companies and unions.

In short, if you want to get a discount paperback loan, go to your company or your union to find out how you can apply for the deal.

What if there is a layoff?

Many consumers are afraid to take a discounted loan on the sheet and have problems if they are laid off. In these cases, even with one resignation, the risk of default is smaller compared to other lending modalities.

Under Brazilian law, when leaving a company and have a still active discount, it will be necessary to use up to 30% of the value of the rescission of the contract to pay the debt. Incidentally, this can be done directly by the company, which is linked to the bank, and the employee already receives the termination with this discount.

The risk of dismissal occurs more in the case of employees of private companies, since civil servants have jobs of greater stability and are rarely dismissed, and retirees or pensioners of the INSS also do not run the risk of having the benefit canceled by the Federal Government.

If the 30% of termination is not enough to pay off the debt, the rest of the installments must be negotiated between the bank and the dismissed official. In this situation, the transaction no longer implies sheet discount.

The contractor must pay the tickets monthly and, in case of complication, make a renegotiation of debts with interests no longer so lenient, since the bank no longer has the guarantee of a fixed job.

Who has a dirty name get a discount paperback loan?

 Who has a dirty name get a discount paperback loan?

For negatives getting a discount paperback loan can be a little more difficult. Even so, because salary is the main guarantee of the payment of the debt, the banks end up releasing the loan to those who have credit restrictions.

In the case of retirees or pensioners who have a dirty name, there is no problem, since the risk of not paying the debt practically does not exist. Therefore, there is no reason for the bank to deny credit.

If you have the negative name, before opting for the loan, assess whether you can meet the terms of the contract if you are fully able to take on that debt.

In some cases, after borrowing requests are rejected, people with a dirty name on the square end up resorting to relatives or friends with a clean name or who are already retired. And it is very dangerous to take a loan from someone else. The recommendation is to avoid this type of transaction.

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