Payroll loan from Auxílio Brasil is already released; see the rules

O Brazil Aid loan was regulated by the Ministry of Citizenship last Tuesday (27), six months after its presentation as a provisional measure and one month after becoming law. With that, banks and financial institutions are already authorized to offer the service. So, keep reading and see what the rules are for this one. loan.

Read more: Anticipation of dates of installments of the Brazil Aid until December

Brazil Aid Loan – Everything you need to know

According to Federal government, the purpose of approving the payroll loan for Auxílio Brasil beneficiaries is to allow these Brazilians who are without access to credit (many of them indebted) can reorganize their finances and seek autonomy.

What is the payroll loan modality?

Before opting for this loan, it is important that you know what it is about. Basically, it is a type of assigned credit in which installments are discounted directly from the paycheck or benefit of the person who hired it. In this case, discounts will be made directly on the Brazil Aid installment.

As it is a direct discount on remuneration, banks and financial institutions ensure that the installments will be paid. However, this type of loan is dangerous, especially for people in situations of greater vulnerability, due to the possibility of compromising basic needs due to the discount on the benefit.

Maximum amount of installments

The value of the loan installments must be up to 40% of the benefit amount, which is R$ 400. Thus, the beneficiary may acquire a loan whose installments are up to R$ 160 per month, over a maximum period of 2 years. Interest, in turn, will be up to 3.5% per month.

financial education

The Ministry of Citizenship reported that it will offer financial education actions, in addition to offering credit. Thus, when contracting the service, beneficiaries will have to respond to a questionnaire that will serve to measure the knowledge on the subject and the capacity of the citizen to administer the loan.

How to take out the Brazil Aid loan?

Interested parties should look for a bank or financial institution to request the service. Currently, the banks that are working to offer the service are: Caixa, Safra, Agibank, Banco do Brasil and Banco PAN. These institutions are still analyzing and evaluating how and if they will offer the loan.