Advertisements
Despite dividing opinions, the Auxílio Brasil loan is being sought after by millions of Brazilians.
In less than 15 days, Caixa Econômica Federal has already released more than R$1.8 billion Brazil Aid loan.
In addition to Caixa, 11 other banks are already authorized to sell this financial product.
In today's text you will discover how this credit model works and where to apply for yours.
Don't miss it!
What will you find in this text?
- How does the Auxílio Brasil payroll loan work?
- What is the loan amount?
- Which banks are doing it?
- Where can I do it?
- Who can apply?
- Conclusion.
How does the Auxílio Brasil payroll loan work?
The Auxílio Brasil loan falls into the payroll loan category, as the installment payments are automatically discounted from the benefit.
Furthermore, the requested amount must follow the assignable margin, which is currently 40%.
This means that the beneficiary cannot commit more than 40% of their benefit to loan payments.
Another important feature of the payroll loan is that there is a maximum ceiling for the interest rate charged by banks.
However, in the Auxílio Brasil payroll loan, the interest rate is higher than that of traditional payroll loans, as you can see in the table below.
| Loan for INSS retirees and pensioners and public servants | Brazil Aid Loan |
| 2,14% per month | 3.5% per month |
In a payroll loan, the applicant has a grace period, which corresponds to the period the client has to start paying the first installment of the loan.
Many banks give a 120-day term after signing the contract. In fact, this is one of the main advantages of this loan model.
Once the customer has a good time to organize themselves financially before starting to pay the first installment.
However, in the credit assigned by Auxílio Brasil, The bank cannot offer a grace period. The first installment will be discounted from the next benefit payment.
What is the value of the Auxílio Brasil loan?
As it is a payroll loan, it must follow the assignable margin, as previously mentioned.
This means that the installments must not exceed 160.00 per month, the base sum is calculated based on the current value of Auxílio Brasil, that is, R$400.00.
40% of R$400.00 = 160.00.
Considering the 24x installments, the value could reach R$3,840, if it weren't for the interest rate.
With an interest rate of 3.5%, the maximum value of the Auxílio Brasil loan is approximately R$$2,600.00.
In practice, no bank is making this amount available; they are free to lend whatever amount they want, as long as it complies with the rules.
But don't worry, the difference is small, you can find institutions that are lending up to around R$$2,400.00.
Which banks are offering Auxílio Brasil loans?
In addition to Caixa, eleven other banks are authorized to make loans from Auxílio Brasil.
Before the regulation was issued, the list of institutions interested in offering this loan was quite large.
However, as the interest rate was fixed, they ended up judging that it would not be interesting for the company to offer this product with an interest rate of 3.5% per month.
See below which banks are offering Auxílio Brasil loans:
- Federal Savings Bank;
- Agibank S/A Bank;
- Crefisa S/A;
- Daycoval S/A;
- Banco Pan S/A;
- Safra Bank Inc.;
- Capital Consig Direct Credit Company S/A;
- Facta Financeira S/A Credit, Financing and Investment;
- Pintos Inc.;
- QI Direct Credit Company S/A;
- Value Direct Credit Company S/A;
- Zema Credit, Financing and Investment.
Where can I take out a loan from Auxílio Brasil?
Even with the list of banks that are doing Brazil Aid loan, it is not possible or easy to apply for them all.
The first example is at the Facta financial institution, which is currently no longer accepting pre-registration for this loan.
THE Safra Bank informed after the publication of the Ordinance that some specific provisions differed from the credit conditions they were offering in pre-registration.
So the offer was cancelled and they would not make any new proposals or operations at the moment.
At Crefisa, it is possible to carry out a simulation and register on the website, but the wait for a response is long.
At Banco Pan, things are also slow. It is possible to make the request through a bank correspondent, but the wait is also long for applicants.
Some banks do not even provide a channel for interested parties to get in touch.
In the end, where to apply for the Auxílio Brasil loan? Check out our 3 suggestions below!
#1 Box
The first suggestion is Caixa, which has so far been the bank that has lent the most money, having already released more than R$1.8 billion to around 700,000 people.
The loan can be requested through the Caixa Tem app, in the “Consignado Auxílio” tab. Then, proceed with the operation by providing the requested data.
The interest rate applied by Caixa is 3.45% per month. There were some complaints regarding the release of the amount.
However, the bank reported that the delay in the money being transferred is due to high demand.
#2 My Everything
Meu Tudo is a digital credit platform and acts as a banking correspondent. On the website you can request a minimum of R$$200.00 and a maximum of R$$2,400.00 of Brazil Aid loan.
The interest rate applied is 3.39% per month, lower than that of Caixa. Even before the regulation came out, Meu Tudo already offered an attractive interest rate.
You can perform a simulation by My Everything website.
#3 Uconnect
Uconecte acts as a banking correspondent, in the case of this loan, it represents Banco Pan.
As of the date this text was posted, the platform was not running simulations due to high demand, but it was running them a few days earlier.
Therefore, please visit the website at another time and try again. On this platform, you can also find other financial products and services, if you are interested.
Additionally, you can refer people and if they close a deal, you earn money for the referral.
Who can apply for the Auxílio Brasil loan?
This payroll loan model is exclusive to beneficiaries of Auxílio Brasil, formerly Bolsa Família.
Auxílio Brasil is a benefit paid by the government to low-income families registered in the Single Registry.
To find out if your family is eligible to receive it, go to the CRAS in your city.
Conclusion
THE loan The Auxílio Brasil loan is a credit intended for low-income families, some of whom even have the Auxílio Brasil benefit as their main source of income.
Therefore, it is very important to be cautious when requesting this loan, as you will receive a smaller benefit amount until the installments are paid off.
Furthermore, if you lose your right to Auxílio Brasil, you will have to find other ways to pay the debt.
