How Credit Portability Works – And How You Can Pay Less With It

Did you know that it is possible to renegotiate an ongoing loan agreement? And is it even possible to be able to pay lower interest rates, look for a new payment term and even release more credit?

Still little known and used, credit portability can be a great option for those who are having difficulty repaying a loan.

Check out how this service works and who can pick it up.

What is credit portability?

What is credit portability?

In practice, portability is the transfer of debts from one bank to another. There are several reasons for the customer to seek this bank swap: more attractive financial conditions, especially if the bank offers lower interest rates.

In some cases, it is even possible to gain access to a new loan, at the discretion of the new bank to evaluate this release. Remember that, in the payroll loan modality, the hiring of new credit must remain within the limits of 35% of user income, never exceeding this amount.

How to hire?

How to hire?

Prior to contracting with the new financial institution for portability, the customer should contact the current bank and request information regarding the loan agreement. It is your right to receive all necessary data within one business day.

The information on the credit operation that must be informed can be found in the debt statement (DED):

  • Contact number;
  • Debt balance updated;
  • Installment amount;
  • Originator Bank;
  • Full and remaining term

With your data, the new institution will evaluate what timeframes, fees and values ​​it can offer. Remember that she is not committed to accepting the new customer.


If it is interesting for your bank to continue with the loan, there may be a counter offer, offering renegotiation so that you can keep hiring with the institution. But it’s not mandatory either.

Research, analyze and trade

Research, analyze and trade

The great advantage of credit portability is that you can compare whether the change will really be beneficial for you. Just a good tip is to run simulations at more than one bank, ask about rates and terms and Total Effective Cost, also called CET.

The CET is the rate that covers all charges and expenses from credit operations contracted by individuals or companies.

Did you like this text and want to know more about payroll loans? Check out our blog for more information about this service.

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