Payroll loans require care when hiring. There are big differences in the service that banks offer. In particular, there are large differences in the interest rate charged by the institutions.
In this guide we separate the main information so that you are sure that you are making the right decision when hiring your loan.
Since payroll loans do not require the borrower to have a bank account or receive salary from the bank they are hiring, it is important to do a lot of research to find the best condition.
Compare bank rates at the Bank
The Bank has a complete list with the fees of all banks for the payroll loan. We publish a listing periodically.
An important observation about ranking is that it has nominal reference rates. Therefore, it is necessary to check if the bank chosen meets your employer’s agreement and what rate is applied.
View the reputation of the banks
In addition to a good interest rate, it is important that the bank you have chosen is recognized for having a good service.
In this way, you will avoid problems like delayed payment of credit, request of unnecessary documents or badly explained rates.
An excellent source of information is the Reclame Aqui website. Recognized for being benchmark in consumer ratings, the site has a specific category for bank evaluation.
Note whether the bank on which you plan to hire the payroll loan has a record of claims related to payroll. In particular, assess whether, in response to complaints, the bank was quick, solicitous and effectively resolved the problem.
Check if there are no hidden fees
When looking for information on payroll, observe if there are no hidden fees on hiring. In general, the banks disclose the nominal interest rate and the CET (Total Effective Cost), which already includes fees related to hiring.
We explain in this article what is CET and how to make sure that you are not being deceived.
The rates that can be taken out most commonly are registration fees and optional insurance, such as insurance lender . Note whether or not your proposal includes these rates.
The exists just to help you in the task of finding out the best bank to hire a payroll loan.
We have a rigorous process of selecting partner banks. That way, by hiring at bxblue, you are sure to be finding the best interest rate on the market, in a reliable bank.
Our simulator will show you the offers of the banks that fulfill your agreement, simulate now!