The Personal Payday loan and the Personal Payday deductible credit card are two examples of loan modalities for retirees.
In addition to being able to make requests, the beneficiary can make transfers when needed through operations such as overdrafts. Learn more about the credit modalities available.
Retirement Personal Payday Loan
Know the different types of loans for retirees:
This is one of the main requirements of the Personal Payday loan due to the fact that the payment of the credit portion is automatically charged to the borrower’s salary / benefit.
Thus, it provides greater assurance to the banks that the debt will be fully paid off. In addition, default rates are lower compared to other lending modalities.
The Personal Payday loan is not the only type of credit that offers exclusive benefits to INSS retirees. The consigned credit card also does this.
In it, you find the same functionalities of a traditional card but with the advantages of Personal Payday. That is, you can use it to make purchases and install them at a 3 times lower interest rate compared to the traditional credit card.
Transfer Extra Money
It is also possible to transfer in cash up to 95% of the limit available on the card consigned directly to your checking account.
This is also a type of loan for retirees, and just like Personal Payday loans, it also provides good hiring conditions .
In addition to credit and Personal Payday cards, there are other types of loan that INSS beneficiaries can request. Check out the details below for each one:
Overdraft is a pre-approved loan modality for current account clients of financial institutions. Taking it off is fast and convenient . This is because there is no bureaucratic procedure and the amount is available at any time.
However, you have to be aware, because unlike many people think, the overdraft is not part of your bank balance, because when you withdraw your account is in the red.
When a new amount is deposited, the amount used in the overdraft will be debited by discounting the interest, which may reach approximately 20% per month.
Types of loan for retiree
Know two models of loan for retiree.
Loan with guarantee
A secured personal loan is one in which the borrower needs to present a property, such as a real estate or a car, as collateral if the debt is not repaid in the future.
But if you do not have it, you can present a guarantor / guarantor as collateral. That is, a person will inherit their debt if it is not totally taken away.
The interest rates on this type of loan are usually low, about 1%, according to the Central Bank. However, if the applicant delays the payment of the installments, the financial institution that granted the credit is allowed to withdraw its property.
Unlike secured loan, unsecured personal loan is not required to present a good or a guarantor / guarantor. However, this type of loan can offer up to 10% interest per month and more stringent credit analyzes.
This is because banks and financial institutions have no guarantee that the debt will be paid off.
Knowing the details about the credit modalities, it is easier to find out which loan for retiree offers the best conditions. So, find out how to use Personal Payday to settle delinquencies .