The loan Brazil Aid was a funding program created by the Federal Government to help people and small businesses affected by COVID-19. The program offered low-interest loans to help people maintain their financial activities during the crisis. In January of this year, with the return of Bolsa Família, Caixa Econômica Federal announced the suspension of the offer of payroll loans to Bolsa Família beneficiaries. However, the Bolsa Família payroll loan will return with new rules.
The payroll loan would not be resumed
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In a statement, the bank said that the product would undergo a “complete review of parameters and criteria”. The current president of the republic, Luiz Inácio Lula da Silva (PT), even criticized the program. According to him, the measure harms the population and should 'suffocate' families.
“The payroll has to be at 1% per month, it cannot exceed 8%, 9% per year. If it is at 8% per month, it reaches 200%, 300% interest per year. It will suffocate”, said the president of the republic to Rádio Clube, from Pará.
Last Thursday, the 9th, the Ministry of Development and Social Assistance, Family and Fight against Hunger published in the Official Diary of the Union, an ordinance with new rules for payroll loans within the scope of the Auxílio Brasil Program, which was renamed Bolsa Família.
According to the Ordinance, the text sets at 5% the limit for discounting the benefit paid to beneficiary families of the Bolsa Familia or other federal programs. Furthermore, the number of installments may not exceed six successive installments and the interest rate may not exceed 2.5%.
Return of Bolsa Familia
Bolsa Família is an important initiative to help reduce poverty and social inequality in Brazil. Since its implementation, the program has helped thousands of families improve their financial situation and ensure access to basic public services. This year, the benefit will be initially paid by providing R$600 plus an additional R$150 per child under six years of age.
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