The Personal Paydayl loan is a form of credit available to retirees and pensioners of the INSS and public servants.
A great differential is the possibility of requesting up to 9 loans , provided that the sum of the installments does not exceed 30% of the borrower’s income . Learn, in this post, more details on how the 9 credit lines available and the conditions to apply.
The 9 credit lines
Previously, the limit of lines of credit that a person could hire was six, determined by the INSS. However, since November 2017, the agency has hired up to 9 lines. Provided that the sum of the value of the installments of each loan does not exceed the assignable margin , which remains 30% of the rent.
Learn about the key benefits that increased active lines of credit have brought to applicants:
Opportunity to use available margin
Prior to the move, there were people who even had margin available to apply for a new loan. However, they had already used the 6 credit lines. So they could not request a new loan if they needed it. Now people who have available margins and have already contracted 6 lines of loan can use the remaining margin to request up to 3 more contracts if needed.
Control the number of loans and the use of the margin
The applicant who already had an active loan, when he needed one more, used up all the available margin, given that it would be his last chance to acquire credit. After the change, people with more than 5 loans, for example, can request only what is necessary . Thus, it is possible to control the contracts and pay small installments without necessarily taking all the margin.
Being able to use the salary increase
Every year a revision of the minimum wage is made, and this has a positive impact on the assignable margin, since the higher the salary, the higher the amount available for the loan . However, those who had a full margin of credit and six lines of credit used in one year, when the salary increase and consequently the margin increase occurred the following year, they could not enter into a new contract because they were in the limit of the credit lines allowed.
I already used the 9 credit lines and now?
It is possible to request more low-interest credit with no margin for loan, even with the 9 lines of credit taken. The solution is to make the additional payout on the Personal Paydayl deductible credit card. The withdrawal allows the transfer of the limit of your consigned card to your checking or savings account. This is one of the benefits available to retirees and pensioners of INSS and public servants.
To get this type of credit, you first need to have a consigned card. If you do not already have it, it is appropriate to compare the conditions of each financial institution and choose the one that presents the best benefits.
After acquiring the card, simply request the withdrawal! This is a great solution because the card limit value is transferred to your account very quickly, as well as being easy and free of bureaucracy.
Learn more about the complementary service: Supplementary service: know in which situations to request
Important if you plan
Even with 9 lines of credit available, it is important to plan well not to take out unnecessary loans. The credit application should come from a clear goal and bring real benefits to you. For this reason, Dolly Varden offers information on finance, especially in the consignment loans segment, with the aim of guiding the entire path to your request in order to carry out a safe and clear procedure.
Check out important content for your financial education :
Loan for retiree INSS: Know the best option.
Personal Paydayl loan, advantages and disadvantages!
Is the loan worth it? See 5 reasons to apply for extra credit