PagBank review

Updated September 28, 2026 · BorrowCue Editorial Team · Facts checked September 26, 2026

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Our verdict

Cost is the trade-off, with 28.32% to 213.84% on a fixed rate personal loan and no opening fee on the account.

Key facts

Best for
Retired INSS pensioners in Brazil who want a fixed rate loan repaid from their benefit.
APR
28.32% to 213.84% (Source, checked September 26, 2026)
Term
3 to 24 months (Source, checked September 26, 2026)
Arrangement fee
None (no credit opening fee charged on the INSS consignado loan) (Source, checked September 26, 2026)
Credit check
Soft prequal (Source, checked September 26, 2026)
Funding time
Approved within 2 business days, money credited to PagBank account within 24 hours (Source, checked September 26, 2026)
Representative example
CET from 2.1% per month (28.32% per year) to 10% per month (213.84% per year), payment term 3 to 24 months (Source, checked September 26, 2026)
Rate type
Fixed (Source, checked September 26, 2026)
Lender type
Direct lender (Source, checked September 26, 2026)
Eligibility
Retired INSS pensioners and benefit recipients only; up to 40% of monthly income committed over up to 108 instalments (Source, checked September 26, 2026)
Origination fee (%)
0% (Source, checked September 26, 2026)
Loan types
Personal (Source, checked September 26, 2026)
Credit needed
Poor (Source, checked September 26, 2026)
Legal entity
PAGSEGURO INTERNET INSTITUICAO DE PAGAMENTO S/A - CNPJ/MF 08.561.701/0001-01 (Source, checked September 26, 2026)
Headquarters
Brazil (Source, checked September 26, 2026)
Founded
2006 (Source, checked September 26, 2026)
Support channels
Phone, Help-centre, Email (Source, checked September 26, 2026)
Pricing model
Fixed rate
Features
Same-day funding
Official website
pagbank.com.br

Apps and profiles

Elsewhere
LinkedInfacebook.cominstagram.comyoutube.com

Pros and cons

Pros

  • The arrangement fee is free: no credit opening fee is charged on the INSS consignado loan, and 0% adds nothing.
  • A soft prequal check lets you test eligibility before committing to a full application.
  • A fixed rate on a personal loan keeps instalments level, and 3 to 24 is shorter than the 48 typical elsewhere.

Cons

  • Cost is the catch: 28.32% to 213.84% runs far above the 19.98% median across the bad credit loans compared here.
  • Support runs on phone, help centre and email only, with no branch or messaging channel listed.
PagBank

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Scored 9.0 / 10 by BorrowCue.

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Who it suits

  • Borrowers with poor credit who want a soft prequalification check first.
  • Anyone wanting level repayments over a short 3 to 24 window.

Who should look elsewhere

  • Monzo Flex, where 10% to 23% sits below the PagBank range, for anyone able to borrow outside the INSS scheme.
  • Cashspace ES at 0%, the comparison if a no-cost rate matters more than pension eligibility.

How your money is protected

PagBank is a direct lender, so the loan comes from PagBank itself and there is no broker deciding your rate. The published representative example is what fixes the total cost: one rate band applied across the term shown, so the instalment is the only figure that matters. No regulator or deposit protection scheme is named for the money, so protection rests on the lender rather than on a scheme.

How PagBank compares

Where PagBank is available

Available
Brazil

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What will I pay for a PagBank loan?+

The stated annual cost sits at 28.32% to 213.84%, and the rate is fixed, so instalments do not drift. The repayment window runs 3 to 24, and the published representative example pairs that rate band with the same short term, which is the figure to weigh against any other quote.

Are there fees to open the loan?+

The arrangement fee is free: no credit opening fee is charged on the INSS consignado loan, and 0% adds nothing upfront. That matters for a borrower on a modest pension, where a small opening charge would eat into the first instalments. Judge the offer on the instalment you are quoted.

What credit check do I need to pass?+

PagBank runs a soft prequal, so a first application does not rest on a full hard search. The stated credit requirement is poor, which is forgiving for a borrower without a strong file, though the pension and income still decide the outcome.

How quickly would the money arrive?+

Approval takes a couple of business days, and once a decision is made the cash lands in a PagBank account within a day. The service is listed as same day funding, and the money arrives in the PagBank account rather than through a separate bank transfer.

Is my money protected if something goes wrong?+

PagBank is a direct lender, so the loan comes straight from the lender with no broker in between. The information for this product names no regulator and no deposit protection scheme, so nothing covers the balance if payments stop, and the fixed rate only fixes the cost of borrowing.

Sources

Compiled from 5 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Loan amount.

PagBank

PagBank

Retired INSS pensioners in Brazil who want a fixed rate loan repaid from their benefit.

9.0/10Visit

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