By Brazil Stock Guide – XP Inc. (XP) said on Monday (2) it is rolling out a private payroll-deducted loan product for formally employed workers under Brazil’s CLT labor regime, expanding its banking footprint beyond core investment services.
The launch, first reported by InfoMoney, positions the new credit line as a budgeting tool with fixed monthly installments deducted directly from payroll. Contracts are fully digital, and the first payment falls due up to 60 days after signing.
According to the company, loan conditions vary based on a client’s profile and relationship within the XP ecosystem. Customers who already invest through the platform may access rates described as among the most competitive in the market. Loan amounts and maturities are determined following an assessment of both the borrower and the employer.
Felipe Colin, head of credit products at XP, said the product is designed to strengthen client relationships and broaden the firm’s financial solutions shelf. He added that the goal is to maintain a competitive offering integrated into investors’ broader financial planning.
The private payroll loan forms part of XP’s strategy to consolidate clients’ financial lives within its ecosystem. The platform currently includes digital accounts, cards with Investback features, insurance, private pension products, consortia and multiple credit lines.
With the addition of the new product, XP’s credit portfolio now comprises home equity loans, loans backed by investments, unsecured personal credit and private payroll-deducted loans. The firm argues that structured credit can serve as a wealth-preservation tool by providing liquidity without requiring clients to liquidate investment positions.
As a next step, XP plans to introduce a mortgage solution, further expanding its credit vertical.
The private payroll loan will also be available through Rico, XP’s retail-focused brand, broadening distribution to clients across different wealth and investment maturity levels.