bay port is a leading company in the payroll sector that is present in nine countries: seven in Africa (Botswana, Ghana, Mozambique, South Africa, Tanzania, Uganda and Zambia) and two in Latin America (Mexico and Colombia).
The public limited company, constituted under the Colombian regulations, It offers loans in the payroll modality to pensioners, public sector employees and military forces. Said credits are divided into free investment and portfolio purchase credits.
Free investment payroll credits are those that are disbursed directly to the client, either by electronic transfer to a savings account -whose ownership lies with the person who requested the loan- or through a cashier’s check, whose destination is at free choice.
Bayport offers payroll loans to retirees, public sector employees and military forces,
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On the other hand, in the payroll credit for portfolio purchases, the disbursement is made directly to the credit institutions with which the client has previous debts. If there is an additional amount after the portfolio purchase, the surplus is disbursed on the client’s head.
Who can get a free payroll credit in Bayport?
The company has a specialized offer of payroll credit for pensioners, military, police and public employees. The objective, as mentioned on its website, is “to provide financial solutions that allow them to chart a new horizon and a future.”
Armed forces
Those who are part of the Colombian Armed Forces (National Army, Ministry of Defense, National Navy, General Command, Air Force and Cremil) will access a payroll credit that meets their conditions.
The benefits of this loan include credit improvement, agility in disbursement, amounts from one million to 130 million Colombian pesos, a term of up to 144 months, a fixed installment during the term of the loan, and life and personal accident insurance. if requested.
(Keep reading: They kill three Colombians who would dedicate themselves to ‘drop by drop’ in Peru).
The requirements to access the credit are: original citizenship card on both sides, photo or 150 percent scanned copy, last two payroll stubs or pension receipts, certificate of time and assets (labor certification) not older than 30 days and time certificate, which applies to the National Army.
pensioners
Retired people are also welcomed by Bayport. In this case, the value of the credit installments is discounted from the pension allowance, without lines or additional effort. If any unexpected event happens to the client, the balance of his credit is covered by life insurance.
Pensioners will be able to access a credit that will deduct the value of the fee automatically from their pension allowance.
Those who have Colpensiones, Colfondos, FOPEP, Porvenir, Protección, Positiva, Cremil, Ferrocarriles Nacionales de Colombia, CASUR, MinDefensa, Sagen-Tegen, Seguros Bolívar and Seguros de vida Alfa as pension entities, will be able to access a payroll credit at their extent.
policemen
Officials who are part of the National Police, as well as pensioners and members of the Armed Forces, may obtain a payroll credit with Bayport Colombia. The monthly installment of the loan is deducted directly from the payroll -in case they are active employees- or from the pension allowance. In the presence of risks, the entity covers the credit balance and, in turn, supports the client’s loved ones.
If you are part of the National Police, you can request a payroll credit from anywhere and with personalized advice.
“If you are part of the National Police, CASUR or Cagen-Tegen, you will be able to access a payroll credit tailored to your needs,” Bayport details. To obtain the loan, all that remains is to present the original citizenship card on both sides, a photo or a 150 percent scanned copy, the last two payroll stubs or pension receipts, and a labor certification no older than 30 days in the case of employees.
Public employees
If you are an employee of the National Navy, General Command, Ministry of Defense, Judicial Branch (Bogotá, Bucaramanga and Tunja), National Army, EPM, National Railways, Fiduprevisora, Air Force, Military Hospital, Inpec, National Police and Secretary of Education (Bogotá and Magdalena), then you can apply for a payroll credit.
In addition to having personalized advice, you can also access life insurance that will protect the risk of involuntary job loss for up to six months.
(Of interest: This is the draft of the labor reform that the Government will carry out to Congress).
You must have an original citizenship card on both sides, a photo or a 150 percent scanned copy, the last two detachable from the payroll or pension receipts, and a labor certification no older than 30 days in the case of employees.
How can you apply for a loan?
According to what was collected by Bayport, the process to apply for a loan consists of a few simple steps:
1. You must enter the official page (and, immediately afterwards, you will have to choose the customer profile. Two options will appear at the top of the screen: ‘Customer Portal’ and ‘Agent Portal’.
2. Once you enter the ‘Customer Portal’, you must click on the ‘Request’ button, which will appear in the upper right corner of the screen. There you will have four options to choose from: Armed Forces, pensioners, public employees and police.
You must choose a profile to apply for credit.
3. What you must do next is fill in the fields with your personal data, accept the data processing and, immediately afterwards, choose the means to request the credit.
4. Bayport advisors will contact you to indicate the steps to follow. Have the documents on hand, depending on the profile you handle. And ready! The process could be done digitally.
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