Loan: State Free To Pay Consignations

 

 

 

Has the STATE SERVER loan from São Paulo been released by the São Paulo government to other banks? It was, and within a few weeks the vast majority of state public servants will have much more options for borrowing money off of payroll deduction.  The decree was published on May 14 in the “Official Gazette of the State”, in which the governor Geraldo Alckmin established new rules that will serve to ensure that the method of consignment with direct discount on the paycheck happens.

 

Margin of the server Government SP

 

 Margin of the server Government SP

The measure will benefit all civilian and military “state civil servants”, active and inactive. The rules maintains the maximum limit of assignable margin in the monthly salaries, both of the server and of retirees and pensioners of the State. But .., and the installment of the payroll? It will be a maximum of 96 months.

The decree also includes paragraphs that allow banking institutions interested in granting this type of loan to make the transaction through agreements signed with the Organ. See also: Consigned in the State of São Paulo.

The Bank of Brazil currently holds the payroll of the STATE OF SÃO PAULO obtained by the force of an exclusivity contract and for many years has offered the “consignado” to the servants of São Paulo. This exclusivity, by the way, prevented the choice of another bank to register loans, but with the decree the state functionaries will have multiple choices.

Loan Portability State Server

 Loan Portability State Server

With the opening of the “payroll in the State of São Paulo” a lot will change, especially the servers will have more conditions of bargaining and several options of creditors, and with that they will be able to make comparisons of rates and until realizing the portability of credit of payroll loans from the state bank to the new private banks.

It is not today that the servers of São Paulo want this law of supply and whoever offer the best rates and conditions, will certainly come out ahead. It is worth mentioning that many will switch banks because they do not sympathize with Banco do Brasil’s credit policies.

Where to make loans SP Government PMSP

 Where to make loans SP Government PMSP

The promoter Shoppingcred.com informed me that the phones do not stop ringing with requests for information on the release of the payroll loan to the “Servers of the State of São Paulo” and that already have partnership with 3 of the main banks that will offer loans for the functionalism of the State, are even strategically structuring themselves to receive the new agreement.

An interesting fact disclosed by the bank Banco Central in a survey conducted in April, the average interest rate charged by BB was around 1.5% per month on the loan “consigned to state server” and public in general. That’s great, in many private banks these rates range from 1.32% to 5.2%.

 

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