Financial autonomy is the dream of many. For this then, the payroll loan, has been a great alternative. However, few people know how this scheme works.

Therefore, the purpose of this post is to keep you up to date with everything on the subject. Therefore, here, you will understand how this can be a good strategy to achieve your goals.

This is an excellent option within the financial market. However, it needs to be very well planned before anything else. This therefore prevents you from having unpleasant surprises in the future.

So, don't worry. By the end of this reading, you will be a true expert on the subject. This way, the chances of taking unnecessary risks will be minimal.

Payroll loans can then be defined as a type of loan. In it, you have the value of the installments being charged to your payroll. This implies that the money is deducted from your salary directly.

It is exactly for this reason that it is recommended for public servants. People who work with a formal contract, retirees and pensioners can also join the payroll loan.

This is one of the alternatives that offers the most advantageous conditions. Therefore, the interest rate here is lower than in other types of this aid. This is because financial institutions assume an equally lower risk.

Of course, the installments here are discounted directly. So, the chances of there being a “default” are much smaller. That's why the rates are more reasonable.

Therefore, there is a very important question here. Not everyone who works with a formal contract has the same conditions. Even more so in a scenario where dismissal has taken over.

Therefore, you need to be very careful. Sometimes this can end up leading to over-indebtedness. Hence the importance of planning, taking into account all possible situations.

Now therefore, if you are already retired, this risk does not come into question. Even so, this does not invalidate the need to plan in advance.

This way, you can enjoy all the benefits to the fullest. In fact, the next topics will talk more about the advantages and disadvantages involved here.

This type of loan is usually a great option to get out of trouble. With it, it is possible to pay off some more urgent debts and achieve other personal goals. Also check out other positive points below.

This modality allows you to be approved more easily. Furthermore, it is a type of loan with much less bureaucracy.

Financial institutions do not place many obstacles in offering you the necessary assistance. So, the required documentation is very basic, check it out.

Proof of the speed here is that the money is generally deposited in less than 48 hours. Then, just enjoy it however you want.

As you already know, the installments of payroll loan are automatically deducted. When the contract is signed, interest rates are established.

The latter cannot change over time. Therefore, you don't have to worry about possible increases. This undoubtedly helps when putting together a good personal plan.

Remember that in this modality, the risks are much lower. This is mainly talking about financial institutions. So, it makes sense that interest rates are lower and more attractive. This is one of the most interesting advantages.

It is possible to get this type of assistance at any institution. To do this, you don't even need to have an account opened at the chosen bank. However, if you have some type of internal restriction, things get complicated.

Other than that, there is complete freedom to obtain credit. Everything within your real needs and according to what you find most interesting.

As you have seen, there are many benefits involved in this form of credit. However, some points need greater care. Discover now the disadvantages that deserve your attention.

The installment then has a specific date to be discounted. This way, if you have any unforeseen financial circumstances, you have a problem.

This is because this payment cannot be postponed under any circumstances. Then you will harm yourself even more. One of the reasons planning is so important.

The fact that the installment is deducted from your payment means there is a restriction here. Not just anyone is able to take out this type of credit.

Above, the profile of individuals who achieve a payroll loan. Apart from them, members of the armed forces also meet the necessary requirements.

Also, it is important to remember one thing. Official workers are a little behind here. This is because they earn higher rates than others.

This is known as the “consignable margin”. It is she who establishes that the loan must not compromise more than 30% of personal income. So, if you already have any other credit, you are at a disadvantage.

After all, it may be that both installments exceed this limit. In this case, there is not much of a way out. You need to have an affordable margin again. To do this, paying off the previous loan is one of the best options.

Let's say you work with a formal contract and were fired. Therefore, it is necessary to pay off your debt, or transfer it to a personal credit.

The latter is even more expensive, as the fees are higher. Not to mention that 30% of your termination can be taken to pay the installments.

As mentioned above, the installment cannot involve more than 30% of your income. This is a rule created by the Central Bank with the aim of avoiding even more debt.

So let's say you receive R$ 2 thousand. In this case, your monthly payment must be a maximum of R$ 600.00. However, there is another interesting factor here.

A margin of 5% that can be used. However, it only applies to credit cards. Therefore, there is a total consumption of 35% of personal income.

The opportunities that a payday loan can provide are many. However, there are some factors that you cannot neglect. They can end up turning a good situation into something complicated.

Planning is important of course. However, it is not the only thing you should worry about. Therefore, check here what these variables are.

Staying alert with the value of the installment is the first step to avoiding future problems. This is even if she does not commit 30% of her salary.

You must calculate and see if it actually fits in your pocket. If your goal is to pay off your debts and clear your name, there is no point in ignoring this point.

Let's say you have another expensive debt. This can be via special check or credit card. In this case, interest rates are much higher. Therefore, it might be more interesting to look for a payroll loan. In fact, this type of credit is a great alternative for those who are negative.

So, you pay the latter and pay off what you owe. This is a good strategy, considering that you will pay less interest. However, it is necessary to carefully calculate how this scheme would happen.

Imagine that you have the dream of renovating your home. Or, start your own business. Payroll loans can be very efficient when it comes to providing you with the money you need for these goals.

This when compared to other loan types. After all, it allows financing to be done within longer terms than traditional.

Of course, don't forget that each financial institution works differently. Then, align each part of the agreement. Everything has to be done so that it is interesting for both.

Now, it’s time to learn about other reasons that make this modality so interesting. See how versatility is one of the points that attracts the most attention on this list.

You don't always look for credit to make a dream come true. Sometimes paying off a debt is more important. Negative people have some difficulty getting help of this type.

That's why consignment stands out so much. He does not make this distinction. Therefore, you do not need to have a positive registration with either the SPC or Serasa.

It is quite common for other types of loans to have an installment ceiling of 48 months. In the case of consignment, you can choose to pay everything in up to 8 years. In other words, it's 96 months, twice as long.

Many forms of financing require a huge set of guarantees. The guarantor is one of these requirements. In case of payroll loan, everything is done between the bank and you.

Therefore, there is no need to embarrass yourself by looking for someone from outside to help you with this process. Your income alone is more than enough to prove your commitment to paying for the institution.

In an emergency situation, a loan is not always a good option. This takes into account the delay for the money to reach your account.

However, the consignment presents absurd agility. Between 24 and 48 hours, you can access the requested amount and resolve what you want.

There are other modalities that have lower interest rates, this is a fact. However, they all limit how you should use your money. Here, there is total freedom. You can do whatever you want with it.

This form of credit is useful in several situations, as you may have already noticed. However, there are some scenarios that are not favorable for opting for a loan. See 3 classic examples that fit in this context.

Everyday purchases

It's one thing to have expensive debt. Using a loan to pay daily bills is a big mistake. This way, you will end up losing your budget.

It is a very dangerous movement and not recommended. Therefore, do not invest in something like this to pay off routine debts. The best option is to try to cut expenses and find alternative ways to increase your income.

Financial investments

This is a practice done by many people. However, it is something very dangerous and has almost no advantage. Investments must be made with care and planning.

In the case of consignment, you would not get a good result by doing this. The interest rates in this modality are high when compared to the income from investments. Several financial institutions offer their own means of investment.

Borrow money

One of the biggest causes of headaches. If someone asks you to make one payroll loan in your name, be careful. The person may not comply with the agreement and then it is you who must bear the debt.

After all, the institution will not simply leave it aside. Therefore, this proposal model is not recommended. Always try to avoid situations like these.

The answer depends on your objective. As said here, there are countless scenarios where consignment makes a lot of sense. However, in others, it can end up generating more complications.

One tip is to always talk to more than one bank. See what options each one offers. Researching is a very important activity for your pocket. Combine this with well-done planning, and you will have the right answer.

In fact, the payroll loan can help you clear your name or renovate your home. However, remember to calculate each element that involves your final objective. This way, you guarantee that you will make the choice that best suits your needs.