One of the main problems that makes sleep of the Brazilians is the accumulation of debts. Given this, the Personal Payday loan, which has a reduced interest rate , is an excellent resource to pay off these debts.

However, on interest, there is still much doubt. So come and understand more about this attractive rate and see if it fits your reality.

Personal Payday loan: interest rate

The Personal Payday loan is a type of credit in which the installments are directly discounted from the salary, benefit or pension of the borrower. Therefore, the financial institutions have guaranteed payment of the creditor’s debt, and can therefore practice reduced interest rates.

In the Personal Payday, the interest rate revolves around 2.10% per month, depending on the bank, being much smaller in relation to other personal loans. According to data from the Central Bank of Brazil, interest on overdrafts and revolving credit cards, for example, revolve around 250% and 300% per year, respectively. That is, other types of loans, practice fees up to 10 times higher than the Personal Payday.

Margin assignable

In addition, in the form of Personal Payday-deductible loans, there is what we call the assignable margin. The margin, which is the maximum percentage of commitment of the salary, is up to 35% of the income . Being 30% intended for loan and 5% for the consigned card . In this way, the borrower’s basic needs, such as food, health, water and electricity, are not compromised by the loan. However, in the Personal Payday loan, the reduced interest rate and the assignable margin are just some of the advantages of this type of credit.

Main advantages of the Personal Payday Loan

Unlike other types of loans, on the Personal Payday you have much more easily at the time of hiring without bureaucracies. The process is quite simple, requiring only basic documents, to ensure their safety. The hiring can be done via bank, via correspondent, via site or via applications.Different from a few years ago, with the evolution of the digital media, it is becoming easier to hire the Personal Payday loan. This is because, through the applications of financial institutions or authorized correspondents, you make the hiring with much more comfort, practicality.

It is no longer necessary to go to the various banks to compare which institution offers the best conditions. It is already possible, through the applications, to make simulations , comparisons between different banks and even hire the Personal Payday loan with more agility, security and comfort .