Payroll Loans vs Personal Credit in Brazil (Consignado x Crédito Pessoal)

What “consignado” means

Consignado means the instalment is deducted directly from your salary, civil-service pay or INSS benefit before cash hits your account. That lowers the bank’s default risk, so rates and CET are usually better than a standard unsecured personal loan.

Personal loan (crédito pessoal)

A non-payroll personal loan relies on credit scoring and proof of income. You receive the lump sum and repay via bank slip or debit — there is no automatic payroll deduction.

Overdraft (cheque especial)

Revolving overdraft is capped by Banco Central rules but is still usually the most expensive routine credit line. Clear the negative balance as fast as possible.

See the cheque especial calculadora page (Portuguese-first copy) for context.