Every company wants loyal employees. One of the ways to accomplish this is by offering the possibility of payroll loan. With their help, they can get out of an unexpected situation without major problems, and thus feel more valued and protected.
However, it is only natural that this kind of practice raises some concerns. Let’s see then the biggest doubts of companies offering this type of credit!
The private payroll loan
First of all, let’s quickly recall what payroll loan is. This type of credit is made with the bank or lender that has a partnership with the company you work for. To have access to this credit you need to have the wallet signed.
Its main advantage is to have one of the cheapest interest rates in the market. This is because the payment is directly deducted from the employee’s payroll and sent to the bank directly by the company. Thus, the risk and interest are much lower.
If you want to know even more details about how payroll loans work, download a complete guide on the subject right now from the website!
Let’s see some questions that may arise regarding this type of credit:
Loans in Resignation
If a dismissal occurs before the debt is fully repaid, the company has no liability and has no consequences to do so. So if this happens the employee has two options.
The first is to repay the loan entirely, which can be complicated if there are many installments. This can be done with part of the contract termination amount, up to 30%. If that is not enough, the second option is to turn the interest on the remaining installments into the value of a normal personal loan, which is usually much higher.
In cases of job change the process is pretty much the same. And anyway the company is exempt from any problem.
Problems in trading
One question that may arise regarding this kind of agreement is in the negotiation of values. Again, the company is exempt from any liability and has no work. This is because the current limit for payroll loans is 30% of income. If the employee wants more than that, there is nothing that can be done because the law does not allow it. To make it even easier, join our company.
Do not pass payment
Normally, passing on the cash deducted from the employee’s salary to the lender is the only concern the company needs to have in this type of transaction and can also help the Personnel Department in this task, as there is an area for the Personnel Department only on the platform. control who are the employees who have taken credit and other controls that make it easier for payroll staff to work.
Payroll loan is a great way to boost employee morale and show them that the company they work for cares and cares. This credit poses no risk to the business and the work to make it work is minimal. Join and make this process even easier.