THE loan with FGTS It is a way to anticipate receiving your anniversary withdrawal.
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Therefore, this is an interesting alternative for customers who want to pay off their debts or invest the amount.
Below we will highlight what the FGTS is, how the credit works and all the necessary information:
- What is FGTS and how does the anniversary withdrawal work?
- What is a FGTS loan and how does it work?
- Who can do it;
- How to apply for a loan with FGTS;
- How does the FGTS anniversary withdrawal work if I request a loan as collateral?
- What are the advantages;
- What are the disadvantages?
- Where to get a loan with FGTS?
What is FGTS?
Before informing you how the loan with FGTS, request and all additional information, we must clarify what the FGTS is.
Therefore, the Severance Indemnity Fund was developed with the aim of protecting workers who are unfairly dismissed, by opening an account linked to the employment contract.
By the 7th of each month, the employer must deposit the employee's salary into account 8%.
In the case of the apprentice contract, the value is 2%.
Thus, the FGTS is made up of the total value of deposits made by the employer, and the employee can use the amount in specific situations.
For example, some people use the FGTS funds to purchase a new or used property, or to pay off (periodic payments) debt linked to a housing finance contract or construction project.
As a result, this fund has become one of the main sources of housing finance in our country, primarily benefiting lower-income Brazilian citizens.
Another option is as follows: the person who retires can withdraw the amount from the guarantee fund within 5 business days, to use it as they prefer.
Therefore, please note that through this fund you can not only apply for the loan with FGTS, there are several possibilities when accessing the Caixa website, you can find out more.
How does the anniversary withdrawal work?
As stated above, the total amount of the FGTS account is available in specific situations, generally retirement or dismissal without just cause.
However, starting in 2020, the Anniversary Withdrawal modality was developed, allowing workers to withdraw part of their account balance, annually, in the month of their birthday.
In this sense, to benefit from such advantages, the worker needs to opt for the system.
To do this, simply choose the modality through the Guarantee Fund's digital channels: FGTS app (click on one of the links to download it to your IOS or Android), fgts.caixa.gov.br or Caixa Internet Banking.
Below you can check the 2021 anniversary withdrawal schedule:
| Birthday month | Withdrawal period |
| January | 04/01 to 31/03 |
| February | 01/02 to 30/04 |
| March | 01/03 to 31/05 |
| April | 01/04 to 30/06 |
| May | 03/05 to 30/07 |
| June | 01/06 to 31/08 |
| July | 01/07 to 30/09 |
| August | 02/08 to 29/10 |
| September | September 1st to November 30th |
| October | October 1st to December 31st |
| November | November 1st to January 31st, 2022 |
| December | August 1st to February 28th, 2022 |
To conclude the topic, please note that if you request a birthday withdrawal but do not withdraw the money within the indicated period, the amount will be returned to your FGTS account.
What is a FGTS loan and how does it work?
The time has come to talk about the loan made using the Guarantee Fund, which works as a type of payroll loan.
Therefore, know that through the loan, the client requests a loan and the installments are paid with a direct deduction from the payroll.
And the idea is no different with the loan with FGTS.
However, instead of deducting it from your payment, the bank deducts the amount from your FGTS account.
This way, instead of having to wait for your birthday to have the amount in hand, you request the credit, receive the money and when the date arrives, the bank will be paid.
This modality was approved in 2016 and follows the rules defined in Law 13,313/2016:
- The interest on the credit must be a maximum of 3.5% per month;
- The available credit limit cannot exceed 30% of the salary;
- The maximum rate for guarantee with the FGTS is 10% of the account balance, in addition to the termination fine (40% of the FGTS balance), in the case of dismissal without just cause;
- Up to 48 installments for debt payment.
Who can do it?
Any type of employee under the CLT, that is, those who were hired based on the Consolidation of Labor Laws, can obtain the loan with FGTS.
To achieve this, it is important that the company where the employee works has an active loan agreement with the bank that provides the credit.
Another important point is that the loan can only be obtained by workers with an employment relationship of at least 12 months.
How to apply for a loan with FGTS?
As soon as you sign up for the anniversary withdrawal through the Guarantee Fund's digital channels, you can receive the credit.
You need to choose the best financial institution and follow the steps below to apply:
- Make a loan request through your online banking;
- Access the FGTS app and allow the chosen bank to access your account balance and other information;
- Define the amounts and periods that will be advanced according to the bank's rules;
- Enter your electronic signature (password) to confirm and wait for analysis and approval.
Most institutions release funds within 1 business day after approval, such as Caixa and Pan.
But, before releasing the value of the loan with FGTS, please note that the bank reserves the fund balance as collateral.
How does the FGTS anniversary withdrawal work if I request a loan as collateral?
Basically, the amount of the installments that was advanced through credit goes to the bank when the withdrawal period arrives.
And since you allow the bank to access your FGTS account balance, the loan amount is made available without bureaucracy due to the payment guarantee.
In view of this, it is possible to receive up to 5 installments of the benefit at once, which the worker could withdraw only once a year in the month of his/her birthday.
So, let us clarify one doubt of yours. loan with FGTS:
What if I have a negative rating?
Just like the payroll loan, the customer can request without fear.
Regardless of whether you have outstanding debts with credit protection agencies or even with Caixa, you can request it freely.
This is because the money used as collateral for payment of the credit is rightfully yours, and the advance payment will only put the amount in your hands faster.
What are the advantages?
The main advantage of requesting credit using your Guarantee Fund is that you have the amount in hand within 1 business day; otherwise, you would have to wait until your birthday.
This is also a very advantageous loan, considering that it does not compromise your monthly budget, with payment made through the FGTS payroll.
Furthermore, it is very easy to count on, there is no risk of default, as payment is automatic and the entire application process can be done simply, without leaving home.
Regarding the benefits for your pocket, know that this type of credit has one of the lowest rates on the market. Caixa's interest, for example, is 0.99% per month.
You do not need to be employed to apply for the loan with FGTS, you just need to have a balance greater than R$500 in your account.
Furthermore, this loan does not compromise the contracting of other lines of credit.
Finally, do I need to have a Caixa account?
No, please note that it is not necessary to have any type of connection with this bank, given that credit can also be requested through other financial institutions.
This means that despite being the FGTS regulator, Caixa cannot require you to be a customer or prevent you from signing up with other banks.
What are the disadvantages?
Like any credit alternative, this one has its disadvantages.
Therefore, we decided to add this topic so that you can check the negative points, compare them with the benefits and decide whether it is really worth requesting. loan with FGTS.
First of all, understand that when you request the anniversary withdrawal, you no longer have the right to withdraw the full amount in the event of dismissal.
Here we have a very high risk for customers who do not have any type of savings and are at risk of unemployment.
Otherwise, there is a big limitation of values.
You can't simply withdraw the amount you prefer, there is a percentage and the higher the amount available in the FGTS account, the lower the anniversary withdrawal amount will be.
For example, for a worker with R$ 700 in their FGTS account, the rate is 40% (R$ 280) + an additional installment of R$ 50.
This worker will withdraw R$ 330 (280+50).
Another example is of a person who has R$ 17,000 in guarantee fund, the rate is 10% (R$ 1700), with an additional installment of R$ 1,900.
The person withdraws R$ 3600 (1700+1900).
In this sense, you need to simulate the amount you will receive to determine if the amount is enough to achieve your objective.
Finally, be aware that the analysis of some banks may take time, transforming the loan with FGTS in a less advantageous alternative for those who need to pay off their debts urgently.
Therefore, please note that you must consider many points in order to request withdrawal and credit.
The ideal scenario for the request is that you have additional resources, not needing the FGTS amount in emergencies such as job loss.
This is because if you regret requesting the anniversary withdrawal and return to the old method, this change is only valid after 24 months from the request.
In fact, in cases of debt, it is not worth asking to pay half, only if the amount is sufficient to pay off the debts.
Where to get a loan with FGTS?
The resolution of the Board of Trustees of the Severance Indemnity Fund allowed some Brazilian banks to provide this type of credit.
However, be aware that not everyone has started working with this method, so it's essential to visit each one's website to check:
- Bank of Brazil;
- Box Federal Economic;
- Bread;
- Cooperative Bank Sicredi.
If you have an account with one of these institutions, visit the app and run a credit simulation to understand the terms and interest rates.
