In Colombia, a payroll credit is used for various purposes, from the purchase of a home, vehicle, to education, tourism, remodeling and investment. This loan is usually granted to pensioners, teachers and employees, among others.
Banco Popular recounts some of the advantages of acquiring a payroll in the current inflationary situation, since for this product it said that it has interest rates from 21% Effective Annual.
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The bank said that the interest rate in the payroll is usually lower than in other types of credits and also allows credits to be paid in longer terms, with low installments benefiting the client’s budget.
Banco Popular said that another of the attributes of the payroll is that It provides greater peace of mind, since it is automatically deducted from the salary or pension.
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In this type of credit, Banco Popular said that it disbursed more than 120,000 payrolls in 2022, accumulating a portfolio of more than $5.8 trillion pesos. The consolidated payroll portfolio at Popular exceeds $15.5 billion pesos, serving more than 360,000 customers.
“At Banco Popular we are committed to providing our clients with financial solutions that allow them to have well-being and quality of life. For it, We have our Presta Ya payroll, an alternative that allows them to carry out their life projects, even more so in situations like the current ones, since we have an interest rate that is below half the current usury rate,” said Carlos Eduardo Upegui Cuartas, president of the entity.
