If you are looking to take out a payroll loan and have already looked for some options, you must have come across the term consignable margin.

This margin only says the maximum amount that your loan installments should have. But, as the payroll loan is not always the option most used by Brazilians, there are still many doubts about its operation.

Today, only salaried people, public servants or people who receive retirement can access payroll loans. Thus, this group that receives a fixed salary is able to access this credit.

If you fit into it and would like to take out this loan, stay with us in this post and find out what is the assignable margin that exists in this type of credit.

In short, the assignable margin indicates a limit value that your loan installments can have.

This happens as a way to protect those who apply for the loan. In this way, by having the margin, the applicant can easily pay the credit since he does not use a very high part of his salary or benefit.

Currently, according to Law 10,820 which regulates payroll loans, the margin used to define the value of credit installments is up to 35% of the applicant's salary or benefit.

In this way, a small part of the person's remuneration is used to repay the credit, so that he or she may be able to repay the loan within the established period.

Namely, the calculation of the assignable margin is quite simple to do. To do this, just use the value of 0.35 and multiply it by the value of your current salary.

Thus, if a person earns R$ 3,000.00 in salary, his payable margin will be R$ 1,050.00.

This means that she can take out a payroll loan where the value of the installments together with interest is up to R$ 1,050.00.

To better understand the relationship between the margin and the loan, we first need to better understand how the payroll loan works.

Therefore, this loan is a modality where people who receive a fixed salary can apply because, unlike the others, the payment of installments happens automatically.

In this way, its value will be deducted every month from the benefit or payroll of the person who requested the loan until the loan is paid off.

But, to avoid default, payroll loans have a consignable margin to indicate the maximum amount that can be deducted from people's remuneration.

Thus, the relationship between them is that the assignable margin is an attribute that only exists in this type of loan to define a limit value for the installments.

Another important point to know about the margin is that if a person takes out a loan using all of his assignable margin, he will not be able to access another credit in the same modality.

In this way, it will need to release part of its assignable margin to make another loan in the same credit modality.

For this, she can choose to transfer the loan to another bank that offers lower rates and thus release some of the margin.

Or else, she can also try to pay off an active loan or finance it in order to reduce the paid installments. 

Now that you understand better how the payable margin works, you can feel more comfortable taking out this loan.

But, first of all, it is interesting to know what are the main steps you must take to access this credit.

To help you with this, we have separated below the main steps related to taking out this credit.

First of all, it is interesting that you analyze your current financial life to see if it is possible to fit the amount of the loan installment.

To do this, you can calculate the approximate value of your installment based on the calculation of the assignable margin and, thus, see if it fits with your other financial responsibilities.

By doing this simple practice, you can already plan better and, in this way, not contract a debt.

With your budget analyzed, the next step is to start researching financial institutions that offer payroll loans.

Here it is important to pay attention to the payment term, interest rates and the total amount that the place can release for you to borrow.

After finding some institutions, carry out a credit analysis so that they can offer you accurate estimates of the loan amount you will access.

By doing this with several companies, you can better analyze the offers to choose the best one for you.

For you who are salaried, it is important to ask your company about the possibility of taking out a payroll loan.

As the value of the installment is automatically deducted from your payroll, it must be agreed with the financial institution where you intend to take out the credit.

After choosing the financial institution, you must access the official website or the application, or even appear in person at an agency to apply for the loan.

To do so, follow all the steps indicated by the chosen channel. Thus, it is possible to finalize the process, go through the credit analysis and get the money in a few days.

Now you can send all the necessary documents to formalize your payroll loan. Generally, institutions may ask you to submit:

In addition to these, she may ask for more, however these documents are the most common to be requested in a payroll loan.

With the documents sent, the institution will draw up the contract to formalize the credit contract.

That way, just read this contract to make sure everything is as agreed and then sign it.

Once you've done that, in a few days the money can be released into your account for you to use however you want!

Now that you know what consignable margin is and its relationship with payroll loans, how about getting to know options for this credit?

So, access the recommended content below and check it out!