DAmong the consumer credit lines of the Colombian financial sector, the payroll credit line stands out, during the 2016-2020 period it grew 45% compared to the portfolio balances presented at the end of 2015 and its share today is $ 61,987 trillion, which is equivalent to 38.2% of the total consumer portfolio, a figure reached so far in 2021, followed by free investment credit, which stands at 30.9%. Figures taken from the Financial Superintendence of Colombia and subsequently consolidated, as of August 2021.
According to the foregoing, for the client who acquires a draft loan it represents the opportunity to access a low interest rate, terms from six (6) to one hundred and eighty (180) months, amounts from one (1) million to the maximum that your salary capacity allows, these characteristics make the draft credit the best option when it comes to alleviating your cash flow and making portfolio purchases to improve the financial conditions (rate, installment value) of current debts, simply use them as a free destination or develop any project you have. On the other hand, in our “new reality”, not having to make a face-to-face visit to the entity to make the payment, generates a bonus for the client, in addition to the possibility of saving 4 * 1000 when I have to transfer the resources of one entity to another to answer for my credit.
Today, business organizations are called to ensure the economic stability of their collaborators, as far as possible they must provide spaces that allow their human team to know tips and advice on financial health, as well as the possibilities offered by the market to take better decisions regarding the acquisition of credits is concerned.
For the latter and for the entities that handle payrolls of pensioners, it is also the possibility of favoring free competition, this means registering multiple credit possibilities in their payroll, each represented in the different entities that today are payroll operators (Financial Entities , SAS, Cooperatives, Employee Associations, among others, defined as such by Law 1527 of 2012, draft bill). Open spaces so that your human team, pensioners, retirees and pension beneficiaries can access credits with preferential conditions in relation to the discount through payroll.
Additionally, the role of the person who directs the payroll or payer is relevant from the point of view of the data that can be shared with the entity at the beginning of the relationship. Data such as: average seniority of employees, salary level, fixed income subject to payment of benefits, are relevant for a good analysis of the credit policies to govern, although the latter is often overlooked, it does determine the future of the company. medium and long-term commercial employer-payroll entity, as it will define any change in credit policies and its offer, starting with the conditions of the loans, EJ: rate, term and customer profile.
The foregoing must be thought from the periodic exchange of information of each party that is the center of the commercial relationship between the two mentioned. Information that finally allows the client to control the behavior of their credit.
Now, what should we review and compare as clients before taking a draft loan?
As a client, do I know my credit profile? That is, is there a credit experience? Are the credit obligations up to date in payments? The offer that is made or sought is born here, the credit and its conditions will be subject in part to the answers to these questions, then if we review:
Value of the installment per million, and if it is composed of capital + interest + debtor life insurance (which covers the value of the credit in case of death or disability, value that varies according to the entity), if there is any other possible item at this sum which is normally determined by the risk profile, eg: Guarantee, bond, and above all we must check what are the discounts that are made to me at the time of disbursement as well as know the process of canceling the debt and the possible charges to be made in that moment by the entity.
In summary, it is not simply a matter of comparing an interest rate, or with what type of entity I am going to acquire the loan, we must then compare all the associated costs, in addition to the term at which I am going to pay.
On the other hand, it is important to mention that financial entities have been making their policies more flexible in terms of customer profile, in order to admit negative reports in risk centers, reports that by amount or time elapsed allow me to create a customer profile that does not a few years ago it had been operating for this sector, in contrast to the lower risk that the product has traditionally shown.
Libranza, is therefore a financing possibility for anyone who earns a salary, pension or payroll income in general, a loan adjusted to almost any client profile, age and income level.
What is coming for Libranza, preserving its dynamism and adaptation to new needs, is its integration with other traditional financial products, that is, we will see new products derived from Libranza in the short and medium term.
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