You may not know that there is a way for your bank to lend you money without interest. It is not strictly a loan, it is what is known as a bank advance or payroll advance. And with this name, you surely already understand what it is about.
The bank advance is that the bank in which you have your payroll domiciled advances you the amount of, as a general rule, a maximum of three payrolls, so that you can return them within a period of between three and six months. This payroll advance is a comfortable way to obtain liquidity as if you were requesting a loan, but in this case, the interest is 0% and they do not usually have commissions either, although this is not the same in all banks. In addition, although many people are still unaware of it, the payroll advance is a right included in the Workers’ Statute.
Requirements to obtain a payroll advance
1. Have the payroll domiciled in the bank where it is requested
two. Do not submit outstanding debts
3. There may be banks that request to have a certain type of contract or conditions, such as a minimum seniority in the bank or some direct debits and, of course, they will make an evaluation before granting you the advance.
How to request a bank advance
To request your bank advance you can go to the office of your bank and talk to an employee, but most allow you to do this operation by Internet.
you shall choose quantity of money that you want to ask the bank to advance you and indicate the weather in which you agree to return it. As you will be warned on the website, the granting of the operation is subject to solvency analysis and the applicant’s ability to return, depending on the entity’s risk policies, so you will have to wait a few days to see if your request is accepted or not.
Source: Lasexta
Paul is a talented author and journalist with a passion for entertainment and general news. He currently works as a writer at the 247 News Agency, where he has established herself as a respected voice in the industry.
