We know that payroll loan interest is one of the lowest in the market.
But did you know that there is a rate cap set by the Ministry of Planning and the National Welfare Board? And from time to time change occurs?
Recently, there was a change, for public servants the maximum rate was 2.05%. For INSS retirees and pensioners, the limit is 2.08%.
Payroll loan interest
With the fall in the basic interest rate in recent months, the government decided to reduce again the interest rate on payroll loans to federal civil servants from 2.20% per month to 2.05% per month. The measure encourages lending from one of the lowest-rate loans to individuals.
Also the reduction of the interest rate ceiling in operations for retirees and pensioners. The payroll-deductible loan ceiling, which was 28.9%, fell to 28.0% per year, a reduction of almost 1 percentage point. Per month, the percentage of payroll deductible falls from 2.14% to 2.08%.
This reduction means savings in interest payments for employees and retirees of approximately R $ 5 billion per year. That’s more money for the retiree and the server to use for their needs.
Did you know?
The interest on your payroll loan proposal you are hiring today influences if you want to refinance it in the future.
Today there is the same or lower rate policy. That is, if you take out a 2% payroll-deductible loan today and need to refinance this installment in the future, the bank cannot apply a higher rate than originally contracted.
This has an impact on the simulations we perform, because when the value of the original contract rate is very low, it is usually not possible to cover it in refinancing. When the interest rate of the original contract is higher than the current ceiling, the change (net credit to be released) can be very advantageous.
Undoubtedly, the payroll loan that was already one of the most advantageous forms of credit in the market, with this reduction in interest will guarantee for you and your family economy and a great deal for the realization of your dreams.