Lower rate and installment
- Input
- R$ 10.000 · 24x · 1,8% a.m. (consignado)
- Expected output
- Parcela R$ 516,81 · juros totais R$ 2.403,44
A good reference for the structural cost of payroll-deducted credit.
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payroll loan vs personal loan brazil
Not every loan with a similar installment costs the same. The monthly rate, IOF and CET together change the real cost far more than the ad usually makes clear, and the gap between credit modes can triple the total cost of the loan.
A good reference for the structural cost of payroll-deducted credit.
More flexible since it does not depend on payroll capacity, but the cost nearly triples.
The BRL 187.65 IOF is identical in both simulations; the monthly interest rate contracted is what separates the CET result.
In consignado, installments are deducted directly from the payroll or INSS benefit, which reduces default risk for the bank and allows much lower rates, typically 1%–2% per month versus 3%–7% for unsecured personal loans. In exchange, consignado requires eligible employment or a benefit and respects a maximum deductible margin of your income. When available, it is usually the cheapest option.
Not by itself. A longer term lowers the installment but can inflate total cost; the annual CET is the indicator that sums interest, IOF and fees for a real comparison.
Yes. In a simulation with the same IOF (BRL 187.65 on BRL 10,000.00 over 24 months), the gap in the monthly interest rate alone takes the CET from 26.32% p.a. on payroll loans to 83.64% p.a. on personal loans.
No. Decreto 6.306/2007 applies the same 0.0041% daily rate plus a 0.38% additional rate on the principal in both modes, with the same 365-day cap; what changes the final cost is the contracted interest rate on each operation.
⚠️ Educational simulation. Actual rates depend on the bank, credit profile, and contracted modality.
PRICE system. IOF: Decreto 6.306/2007.
Outstanding balance
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