The release of credit is one of the most anticipated steps of the payday loan process. After all, whoever seeks money is because they really need the money.
Does paycheck-deductible loan take as long to fall into the account?
Usually, this operation is very fast, since the process is less bureaucratic and simpler for approval. Thus , the term for payroll deductible loan is 3-5 business days (on average) .
Understand how contracting and clearing credit works and how long it takes to have the money in your account.
How does the Payroll Loan work?
Eligible pensioners, pensioners, public servants, workers with a formal contract, and Armed Forces Military are eligible for this type of loan.
In addition, it is necessary to have available disposable margins , that is, sufficient income to pay off new long-term debt. Therefore, the release of consigned credit occurs only after approval, signature and registration of the contract .
Under these conditions, the money can be credited to the borrower’s account, for use the way you prefer. Other than funding, for example.
Payroll-deductible loans can be released either in the form of a loan or in the form of a credit card .
Take advantage to know also what is the term of release of the loan, by agreement and by banks.
Payroll Loan Release Period
The period of release of the INSS payroll for Retirees and Pensioners is, on average, from 48 to 72 hours. The endorsement is made by Social Security, via Dataprev.
Read also : How long does it take for the INSS to approve a Payroll Loan?
The data transmission is performed by the bank, so the contractor need not worry about any action at this stage.
One of the reasons for possible delays in this process or even disapproval is the negative margin.
Term of release of the Consigned Loan
The release of credit, in the case of the payroll loan for Federal Public Servants (SIAPE) , is usually carried out on average between 48 and 72 hours hours (these periods may vary from bank to bank).
In order for the registration to take place, the paying agency must have an agreement with the bank to authorize payment.
IMPORTANT: The refinancing and portability periods of credit are usually 15 days. Although the deadline is longer than a new credit contract, these operations aim above all at consumer safety.
It is worth mentioning that, today with the ease of technology, in addition to performing simulations and compare the rates of different banks, it is also possible to contract payroll deductible credit online .
The release of credit is also subject to some conditions regarding the bank account for transfer of money.
In which account can the money be released?
The money from the payroll loan can only be released or credited as:
1) In the account in the same name as the loan holder
The money transfer account must always be in the same name as the contract holder.
The credit will be made available exclusively in the previously indicated checking account. Therefore, the third party account transfer is not allowed.
2) Same benefit account
Retirees and Pensioners must indicate the same account in which they receive the benefit, according to Normative Article 22 of INSS Normative Instruction No. 28/2008:
Whenever the beneficiary receives the benefit by means of a current account credit, the credit of the loan granted must be made to that account, whereby a request for assignment is denied in the absence of an indication of the account or indication of account that does not correspond to that one by which the benefit is paid
If the insured receives the magnetic card (benefit card) you should also indicate a checking or savings account in your name.
Payment in the name or account of third parties is not authorized .
Section III of Article 23 of the same Normative, provides other information:
For beneficiaries who receive their benefits in the form of a magnetic card, the deposit must be made into a checking or savings account, expressly designated by the holder of the benefit and that he is responsible or through a payment order, preferably at the branch / bank where he receives his monthly benefit.
One tip to avoid fraud in the case of the loan via card benefit, it is always check if the credit fell on the indicated account and in the contracted amount. Outa form of conference is to check if the discount of the installments is being carried out correctly.
These are security measures adopted by banks, to prevent blows and bring more peace of mind to those interested.
But is it still possible to anticipate the release of the credit?
Is it possible to anticipate the release of the money in the account?
Is it possible to have payday loans released on the same day? Will the money be available in my account immediately?
Yes. In some banks it is already possible to have immediate credit release, as in the case of Banco do Brasil where the money is credited in up to 3 minutes in the account .
However, even if the process can be anticipated, it should be noted that banks and financial institutions do not request any early deposit (or deposit) to release the credit .
Is an advance fee charge for credit release allowed?
The collection of early deposits for consultation or release of credit is a criminal practice and should be reported. It is also forbidden to charge the Credit Opening Rate (TAC).
In case of occurrence, the consumer can make a complaint or direct complaint in the Ombudsman’s Office of the Central Bank .
Although there are banks and correspondent banking correspondents in this market that work according to all the regulations set forth by the Central Bank, there are also companies or individuals that frequently apply numerous scams.
According to lawyer Pedro Carvalho, specializing in Direct Banking, we must be very attentive:
Many companies can take advantage of a moment of need, to apply blows. You need to stay alert and be wary of easy money offers. Loans must be contracted only at banks or financial correspondents authorized by the Central Bank.
Therefore, following the guidance given, you always have to be wary when requesting deposit of any amount in advance or some guarantee when you are contracting payroll loan.
The fixed income is already the guarantee that the banks request as one of the requirements for release of credit , in the case of consigned.
In addition, all loan costs are already included in the so-called Total Effective Cost (CET) .
The nominal interest rate is set at 2.08% per month for Retirees and Pensioners and 2.05% per month for Public Servants.
For the payroll-deductible credit card, a single issuance fee of R $ 15 is allowed, in some cases, but the amount must also be informed and broken down into a contract.