Payroll-deductible loans are a type of loan in which the discount of the benefit is made directly on the payroll or the social security benefit of the consumer.
According to the ASC Bank, the payroll or benefit assignment depends on prior and express authorization of the client to the financial institution granting the loan. And to be able to contract there is a need for an agreement with the financial institution and internal legislation for the discount sheet.
Who can hire a Payroll Loan?
Payroll-deductible loan for public servants, retirees and pensioners of the INSS.
The ASC Bank (AB) makes available on its website some security measures that must be followed before hiring a loan:
- The magnetic card or password of the bank should never be provided to third parties;
- It is not prudent to borrow without researching the interest rates and conditions offered by other institutions;
- It is essential to know if the financial institution is authorized to operate by the ASC Bank and, in the case of loans assigned to retirees and pensioners of the INSS, if the institution is in agreement with the INSS;
- The intermediation of people with promises to accelerate credit should not be accepted;
The person interested in hiring a payroll loan must remember that this type of operation represents debts that may affect the administration of future personal and family income, due to the monthly commitment of the benefits with the payment of the loan.
Want to understand more about how to hire a Payroll Loan?
- What is Payroll Loan?
- 10 questions about paycheck loans
- How to find out the payroll loan margin
- Is it possible to have more than one payroll loan at the same time?
Here at Good Credit you can simulate the best rate for you and still apply for your consignment loan directly on the website.