Top & Best Payroll Loan Review 2022 – How to Select Ultimate Buyer’s Guide

Payroll Loan: Which is the best for you in 2022?

If you are looking for a loan, In today’s article, we will talk about one of the most attractive modalities on the market, both in terms of ease of acquisition and payment of debt. We are dealing here with the payroll loan.

The payroll loan, despite being intended only for certain categories of workers, is the one that offers lower interest rates compared to other types of credit.

However, the task of choosing the best loan is not a simple one. After all, there is a wide variety of rules and fees charged by financial institutions and banks. Therefore, in this article, we will explain what criteria you should consider to choose the best payroll loan on the market.

First, the most important

  • The payroll loan is a simple and safe way to obtain credit without compromising your budget.
  • With lower interest rates, this type of loan is discounted directly from your payroll.
  • Today there are many banks and financial institutions that offer this type of loan, and each has its own rules. Therefore, it is necessary to research well before closing the contract.

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Best payroll loans: Our recommendations

When you decide to apply for a payroll loan, you realize the amount of options available on the market. To make your choice easier, we made a selection with the best creditors existing today. Look:

  • The most popular payroll loan
  • The loan with the longest payment term
  • The safest loan of all

Requisition Guide: Everything you need to know about payroll loans

If you need money in the short term and are considering borrowing, you need to evaluate interest rates, terms and payment terms very well and, of course, the suitability of the bank or financial institution that will lend the money.

In addition, it is important to consider that there are several types of loans today. And the payroll loan is one of the most popular.

This is because this type of loan is considered one of the safest ways to get money in the short term, both for creditors and for customers.

In this Requisition Guide, we will show you how it works and what you should pay attention to in choosing and applying for the best payroll loan according to your situation and need.

Payroll loan: What is it and how does it work?

When you take out a loan, you borrow a certain amount of money from a bank or financial institution, and pay it back in monthly installments.

The payroll loan works in the same way, the difference is that the installments paid every month are deducted directly from the paycheck or from the debtor’s INSS benefit.

Therefore, the guarantee that the borrower will pay for the loan is much greater when compared to other types of credit. And, precisely for this reason, the payroll loan has much lower interest rates.

Due to the lower interest rates, this type of loan is considered one of the best options for those who need money in the short term.

However, not everyone is entitled to the payroll loan. After all, as we mentioned, you must have a paycheck or be an INSS beneficiary to guarantee the payment of the debt at lower interest rates.

In addition, it is also not possible to borrow any amount of money. As we will see later, there is a consignable margin.

Who can hire a payroll loan?

As we have seen, you need to prove that you have a fixed income to be eligible for a payroll loan.

For this reason, the categories eligible to take out this type of loan are: INSS retirees or pensioners, civil servants, Armed Forces military personnel and workers from private companies.

However, the rules for having and paying for the payroll loan are not the same for everyone. Each category has different minimum ages and payment terms.

Payroll is also an alternative for those with a dirty name, since for this type of loan there is no consultation with SPC or Serasa.

On the other hand, if you are unemployed or self-employed you will not be able to apply for the payroll loan, precisely because you will not be able to prove fixed income.

How is the payroll loan released?

Even if you fall into the categories that can benefit from the payroll loan, it does not mean that you will have the credit released automatically.

To get the payroll loan you need to prove that you have enough income to cover the debt you intend to acquire.

In addition, to contract the payroll loan, banks usually ask for some documents. Are they:

    • Identification document with photo (RG or CNH).
    • CPF .
    • Proof of address.
    • Updated paycheck or INSS statement.


Therefore, the release of payroll-deductible loans occurs only after the approval of the income and documentation, the signature and registration of the contract.

Then, the payroll loans can be released either in the form of a loan, with money deposited in your account, or in the form of a credit card.

What is the consignable margin on the payroll loan?

As we have seen, you must have enough income to cover the loan debt. But in addition, anyone who wants a consignable loan cannot compromise their entire income. That is why there is a consignable margin.

Consignable margin is the maximum amount of income for a worker, pensioner, pensioner or civil servant that can be used to pay for the payroll loan.


5% must be used exclusively through a specific credit card.

Thus, payroll deductible loans can be obtained at a limit of 35% of the monthly salary, retirement or pension amount. Of this amount, 5% must be used exclusively through a specific credit card.

Thus, if a person has a monthly income of R $ 5,000 net, for example, he can commit to the monthly payment of the loan of a maximum of R $ 1,200.

This rule exists precisely to protect the worker and prevent him from compromising his budget beyond what he should.

What is a payroll credit card?

As we have seen, 5% of the payroll loan is used by means of a credit card. The payroll credit card is similar to the conventional card, but it is only available to the borrower.

In addition, with the payroll credit card, if the holder is unable to pay the full amount of the invoice, the minimum payment is deducted directly from the salary or benefit.

The payroll credit card also has no annual fee, has higher credit limits and the customer is not required to be an account holder at the bank where he requested the loan.

However, in some cases, to purchase a payroll credit card, an issuance fee of R $ 15 is allowed. But this amount needs to be informed and broken down in advance in the contract.

It is also worth mentioning that the payroll credit card does not require registration analysis, which is also ideal for those who are not.

What are the differences between personal loans and payroll loans?

There are numerous differences between ordinary and payroll loans. The main one is that, in the first, interest rates tend to be higher, around 6.49% per month, and the term to pay the debt is shorter, being up to 48 months.

The payroll loan, on the other hand, has interest rates that vary between 2.05% and 2.08% per month. And, in this modality, retirees, pensioners and civil servants have more time to pay for the loan.

Although this term varies depending on the bank or financial institution, in general, retirees and pensioners have up to 72 months to pay the payroll loan. Public servants usually have up to 96 months to pay off the debt.

Another difference is that the payment of the personal loan can be made by bank slip or debit. The payroll, as we have seen, is deducted directly from the paycheck. That is, your salary falls into your account with the debt already debited.

As a result, whoever makes the payroll loan does not run the risk of delaying the payment of the loan, nor of incurring fines and interest that, consequently, would increase the value of the debt.

Another advantage of payroll loans is that this type of loan can be released even for negative payments. And the payroll credit release period is shorter.

But the differences do not end there. Below you can see the main ones in the table below.

Total Effective Cost: What are the costs of the payroll loan?

When a person takes out a payroll loan, in addition to the interest rate, he will pay taxes, insurance and operating costs.

Therefore, to find out which is the cheapest payroll loan, you need to check the Total Effective Cost (CET), which includes all the charges and expenses you will pay for the loan.

Each bank determines a CET but, in general, this cost includes:

    • Interest rate
    • Credit analysis fee
    • Registration maintenance fee
    • Tax on Financial Operations (IOF)
    • Insurance


Remembering that all costs must be included in the contracted amount and the CET amount must be included in the contract.

Therefore, before signing the contract, confirm that the final loan amount is the same as the offer offered. Make sure that there are no services added without authorization.

How much payroll loans can I have?

The maximum amount of payroll loans that an INSS beneficiary can have has been changed from six to nine.

Public servants can request as many payroll loans as they wish. The limit, in this case, corresponds to the available margin.

What are the advantages and disadvantages of the payroll loan?

As we have seen, there are many advantages when considering the payroll loan.

The main one is, certainly, the fact that this modality offers a much lower interest rate when compared to personal loans and even other types of credit such as overdraft, for example.

In addition, as the bank is guaranteed to receive payment of the debt, since the payroll loan is debited directly from the payroll, there is less paperwork to hire and release the money.

Another advantage is that there is a consignable margin, so you are not at risk of compromising your income too much. Not to mention the longer terms to pay the payroll loan debt, since financial institutions usually offer long terms.

However, there are some disadvantages with respect to the payroll loan. The main one is the fact that, like any loan, the payroll is also a debt, in which you pay interest and charges.

That is, in the end, you will always pay more than you borrowed. So, only use the loan as a last resort.

In addition, as payment terms are longer, this means that your income will be compromised for longer. Not to mention that the discount on the payment of the payroll loan cannot be postponed or suspended.

Is it possible to anticipate the release of the payroll loan?

In general, payroll loan credit can take between 3 and 5 days to be released into your account. This will depend on the bank or financial institution you choose. Some banks, for example, even make credit available in up to 3 minutes in your account.

In any case, although the process of releasing the money from the payroll loan may be anticipated, it is important to note that banks and financial institutions do not request any deposit in advance to release the credit.

The collection of advance deposits for consultation or credit release is a criminal practice and should be reported. So be very careful not to become a victim of a scam that, unfortunately, is becoming common.

Companies use in bad faith with people who are desperate in need of a loan and claim that in order to release the money, the applicant must first pay a fee or down payment. This is a criminal practice.

After all, all the guarantee that the bank or financial institution needs to release your credit, is the fact that you have a fixed income proven by the payroll with a consignable margin compatible with the credit you want.

That is, the fact that you allow the payroll loan to be debited from your account is already the guarantee that the bank or institution needs. In addition, all costs of the payroll loan are already included in the CET.

In what situation should you or should you not apply for a payroll loan?

Although the payroll loan has numerous advantages, it is always good to remember that borrowing money means that you will have to take on a new debt.

So it is important to evaluate well before deciding to take out a loan. According to the experts, you should only create this new debt if in fact you are able to pay for it all and making sure that the installment fits in your pocket.

With that in mind, this type of credit can be a good alternative if you have an expensive debt with higher interest than the payroll loan.

Another situation in which you can consider the payroll loan is in case you decide to open a business or do a small renovation at home.

But there are some situations in which the loan may end up making your financial life even worse.

For example, if you plan to take out a payroll loan to pay for day-to-day purchases, ideally, you should review your budget, cut expenses or increase your income. The loan here will certainly increase your debts.

In addition, experts recommend that you avoid taking out a payroll loan to make an application, to lend to someone, or even to pay small debts.


Requisition Criteria: Comparing payroll loans

As we have seen, before signing a payroll loan contract it is important to check all the fees that you will have to pay. But, in addition, it is necessary to be aware of other points that can differentiate one loan from another.

To assist you in this process, we recommend that you take into account the following factors before closing the contract. Are they:

  • Institution
  • Interest
  • Payment deadlines
  • Age

In the following, we will explain in detail each of these criteria so that you can choose the best payroll loan.


The first factor that you must take into account is the bank or the financial institution that will lend the money. This is because, the rates and conditions of loans will vary greatly depending on the creditor.

In addition, it is essential that you confirm that the chosen financial institution is authorized by the Central Bank to grant the payroll loan.

If you are retired or pensioner, it is also important to check if the bank or institution is an INSS partner.

In this way, you will be guaranteeing that the creditor company is acting within the law and in a suitable manner.

But, if you want to be even more sure, search about the financial institution or the bank on sites like Reclame Aqui and on social networks.

It is also worth mentioning that it is necessary that the company that pays your benefit or salary has an agreement with the creditor bank that you choose to take the payroll loan.


As mentioned, one of the attractions of the payroll loan is that interest rates are lower when compared to other types of credit. But that rate still varies widely.

Therefore, in addition to thoroughly analyzing the CET, it is essential that you also check interest rates separately.

For example, according to the Central Bank, the interest rate charged on INSS payroll loans can vary between 1.34% and 2.12% per month. ( 1 )


Did you know that overdraft is also a form of loan?

It works as a pre-approved limit for when the customer spends more than they have.

In this case, the balance is negative, and it is precisely this amount that goes into the overdraft, which must be paid with interest.

But the fact is that overdraft interest is the highest on the market and, depending on the bank, can reach more than 14% per month.


Also note that the interest rate varies depending on your condition, whether you are retired, pensioner or civil servant.

Payment deadlines

Also check the payment terms offered so that you can pay off the debt when taking out the payroll loan.

It is important to assess whether the available conditions really fit your budget. This is because the longer the term, the higher the interest and the longer the time your income will be compromised.

Therefore, it is very important to simulate the payroll loan on the operators’ websites.

In this regard, the terms will vary according to your situation and also with the bank or institution you choose. As we have seen, INSS retirees and pensioners have up to 72 months to pay the debt.

Public servants may have up to 96 months to repay the loan; and workers from private companies pay, on average, up to 48 months.


Another criterion that you must consider is the maximum age allowed by the institution to carry out the payroll loan contract.

In theory, people up to 80 years old can take out this type of loan. But each bank defines its credit policy.



The payroll loan is the modality that offers the lowest interest, since it is discounted directly on the payroll. Therefore, this type of loan can only be made by those who are retired or INSS pensioners, public servants or employees of a private company with a formal contract.

That is, it is necessary that you have income and assigned margin to get this type of loan. That done, it is possible to choose between several banks and institutions as long as they have an agreement with their paying source and are authorized by the Central Bank.


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