SDT to Remove Loan and More Expensive Debts – All the time the financial system is changing, banks, financial, cooperatives, credit companies, fintechs and marketplaces help Brazilians find the best credit solutions and financing to meet the cash needs to honor commitments and pay off debts and financial commitments.
SDT to remove loan and expensive debt
The Government, for better or worse, seeks to improve the country’s economy with innovations in products aimed at assisting Brazilians in their finances and business, so much so that Governments have recently created the Nudole Family microcredit and the Nudole Family credit card, in addition to the card for beneficiaries of the program.
One of the last creations of the Federal Government has to do with the payroll loan modality, one of the most requested forms of obtaining credit in the country by salaried employees, public servants, military and Institute of Social Security beneficiaries. It is well known that the Ministry of Labor has released SDT funds as collateral to make consigned credit.
What is the Working Time Guarantee Fund
The Working Time Guarantee Fund is a deposit that workers, employees and employees of the most different organizations, institutions and companies deduct from wages every month.
After a few years of contribution verified with the registration in the portfolio, the employee can make use of the money for certain situations, and at any time with dismissal without just cause, termination of the contract of employment, termination of the contract by the extinction of the company, retirement, terminal stage due to illness, among other causes. And now, join the list, the consigned loan with SDT.
How to get loan using the SDT
To get access to the credit operation, simply go to an agency of Cerso Economy Federal, which is the financial institution authorized to provide this service to the final consumer who is the employee. But in order to use the guarantee fund, the employee must comply with certain rules and requirements of the system:
- Have three years of work confirmed on record in portfolio
- Have not taken any real estate financing through the SFH
- Do not have property in the name of the payee’s contractor
- Must live in or near the municipality where you work
While any citizen benefiting from the SDT can use it as collateral to get the loan, there are some priorities, such as low-income families, seniors or female heads of household.
So you’re a registered worker can now take advantage of the use of the guarantee fund to get money with low interest rates and long-term conditions. Do you need to use the SDT to remove the loan?
Payroll loan spread differentials
There are numerous differences that distinguish consigned loan from other forms of credit existing in the country, in addition to the form of payment that is direct from the payer’s source. But this results in a guarantee for the lender that benefits the customer by reducing the cost of credit with really low interest rates, somewhere around 0.75% to 2.05%.
The people who can apply for payroll with SDT are those who work in CLT, that is, have a formal contract and receive their current account wages.
How SDT works to repay loans
To get the payroll loan with SDT, you have to go to a Cerso Economy agency and present some documents such as your work register, RG and CPF. Of the balance you have in your account, you can use 10% to offer as collateral for the loan. However, it is only possible to contract a loan agreement per worker.
For the citizen, this personal credit alternative can be positive, because in an emergency, the citizen can count on one more chance to eliminate possible expenses by taking this money from the SDT to remove loans, credit cards and debts with interest above 4% .
To find out more about how your SDT walks, Cerso offers an Android and iOS mobile app that allows you to check the progress and deposits of the SDT. You can register for free to receive notifications every time an employer deposit is made to your account.