See how the payroll for BPC beneficiaries works

Banks are already starting to offer payroll-deductible loans to BPC beneficiaries (Continued Payment Benefit). The offer of this type of credit was allowed after the publication of MP (Provisional Measure) 1,106, on March 18, 2022. The measure increased from 35% to 40% the payroll loan margin for INSS (National Social Security Institute) policyholders. ) and, for the first time, made this same type of credit available to beneficiaries of social programs such as the BPC.

According to the INSS, more than 4.7 million people receive the BPC in the country. The benefit, of a minimum wage (R$ 1,212), is paid to the elderly aged 65 or over or to the disabled person of any age. It is also necessary that the income per person of the family group is equal to or less than a quarter of the minimum wage (R$ 303 in 2022).

The MP was responsible for amending laws 10,820, of 2003, which regulates the payroll loan, and 13,846, of 2019, which deals with Social Security benefits.

According to the INSS, the regulation of the payroll loan for those who receive the BPC was published, but the modality is only available in some banks.

Experts recommend caution when taking out credit, especially if it’s to lend your name to relatives or to buy non-essential goods.

Operation of the payroll loan for BPC beneficiaries

Institutions such as Itaú, Bradesco, Banco do Brasil and Banco Agi began to offer this type of payroll-deductible credit with payment in up to seven years (84 installments). Check the information about the operation of these banks.

Itau

• It is not necessary to be a bank account holder to purchase the product
• Interest rates per month: up to 2.14% per month
• Payment term: up to 84 months
• Margin limit for hiring: up to 35% of the benefit
• Minimum contract value: BRL 1,500
• Documents required for contracting: identification document, contract signature (physical or digital), signature of authorization for data consultation with Dataprev – responsible for managing the Social Database (physical or digital)
• Method of contracting: through mobile application, internet banking, ATM, branches or via certified banking correspondent

Bradesco

• Payment term: up to 84 months
• Margin limit for hiring: up to 35% of the benefit
• Hiring method: through digital channels or bank branches

Bank of Brazil

• INSS beneficiaries who receive the BPC need to have a consignable margin available to contract this type of loan. You also need to be a customer
• Payment term: up to 84 months, with fixed installments
• Payment: installments are deducted directly from the INSS benefit
• Documents Required for Hiring: No additional documentation required. If the beneficiary receives in a current account, savings account and card, he can already contract
• Method of contracting: through self-service channels (application, internet banking and customer service terminals), branch network or bank correspondents that are partners of the bank

Bank Agi

• Fee: may vary per customer
• Payment term: up to 84 months
• Payment: installments are deducted directly from the INSS benefit
• Margin limit for hiring: up to 40% of income
• Minimum value for hiring: BRL 1,212 (minimum salary)
• Documents required for hiring: identification document, proof of residence, proof of income and current account statement

other banks

Bradesco did not provide details on the modality. Nubank reported that it currently does not offer a payroll loan service, only a personal loan. BV Financeira, Banco BMG and Santander do not offer this type of product.

Collaborated Felipe Nunes