Nubank brings competitiveness to the payroll loan segment and offers the lowest interest rate for federal employees

São Paulo, September 6, 2023 – About six months after launching its payroll loan offer for federal public servants, Nubank has made the segment more competitive by offering a 100% digital loan contracting experience and the lowest interest rate on the market. According to data from the Brazilian Central Bank, Nubank’s interest rate was 1.40% per month from August 17 to 23, the lowest in the public payroll loan category.

The possibility of reducing complexities with a 100% digital quotation and contracting flow, which can take less than three minutes without bureaucracy, made it possible for Nubank to enter the category with competitive prices. By innovating processes and optimizing costs, the company has offered a safe and advantageous option for customers eligible for this type of low-risk credit.

In a survey conducted by Nubank with a representative sample of customers who have taken out this type of credit, more than 30% of those interviewed said that they had considered applying for loans at other institutions before having access to Nubank’s offer. When asked why they chose Nubank to take out payroll loans, the interviewees mentioned the ease of the completely digital process, the speed with which the money is deposited in the account, and the interest rate offered as the main reasons.

In addition, 70% of those interviewed said they were completely satisfied with the simulation and contracting process offered by Nubank, while 77% felt that they were not wasting time on bureaucracy. The security of the flow, which is done directly through the Nu app, was also highlighted, with approximately 70% of participants stating that the process is secure.