Banco do Brasil resumes credit and increases interest rates for people with disabilities

The Banco do Brasil credit line for people with disabilities, BB Acessibilidade, was resumed on Wednesday (17) with an increase in interest rates.

Aimed at financing assistive technology for people with disabilities, such as wheelchairs, adaptations in residential properties and hearing aids, the credit was suspended since August 1st.

With the change, the minimum interest rate went from 5% to 6% per year. The maximum rate increased from 5.5% to 7.5% per year. Interest varies according to the income of the borrower, from:

• 6% for those who earn up to five minimum wages
• 7.5% for those who earn between five and ten minimum wages

According to Banco do Brasil, the line had been suspended “due to ongoing discussions about its financial conditions”. The advisory did not specify what these conditions are, but according to a source close to the negotiations, the bank was negotiating with the government to increase the subsidy given to this type of credit.

As for the increase in rates, Banco do Brasil said that “the rates charged on accessibility credit remain attractive to the target audience” and added that, despite the increase in the Selic rate, it acted to ensure that the interest charged on the line continued below the basic interest rate.

Financing continues from R$ 70 to R$ 30 thousand and the payment term can reach 60 months (five years).

Created in 2021, the credit line has already offered BRL 813 million and has served around 100,000 people. Banco do Brasil reports that, in the first seven months of 2022, there were 5,900 operations, with disbursements of around BRL 65.9 million.