Caixa and 11 banks will be able to make a loan for Auxílio Brasil and BPC

Just over 20 days before the second round of the elections, the Ministry of Citizenship authorized Caixa and 11 other banks to make payroll-deductible loans to beneficiaries of Auxílio Brasil and BPC (Benefício de Prestação Continuada).

According to the ministry, institutions are authorized to offer the new loan as of this Monday (10). The benefits will be deducted directly from the benefit with the paying sources.

Hiring is open to the following institutions:

• Federal Savings Bank
• Banco Agibank S/A
• Banco Crefisa S/A
• Banco Daycoval S/A
• Banco Pan S/A
• Banco Safra S/A
• Capital Consig Sociedade de Crédito Direto S/A
• Facta Financeira S/A Credit, Financing and Investment
• Pintos S/A Credits
• QI Sociedade de Crédito Direto S/A
• Value Sociedade de Crédito Direto S/A
• Zema Credit, Financing and Investment S/A

Credit has been criticized for the possibility of taking the most vulnerable population into debt, but there are two situations in which the loan can help: to undertake and to pay installments of the home, if there is a high risk of losing the property.

The loan is limited to 40% of the permanent value of R$400 of Auxílio Brasil. The extra R$ 200 scheduled to be paid only until December of this year is not considered. With this, the maximum discount is R$ 160 monthly in up to 24 months. It is therefore possible to hire up to R$ 2,569. The interest rate is up to 3.5% per month, equivalent to 51% per year.

The amounts are deposited by the financial institution in the same account where the benefit payment is made, within two business days after contracting the loan, according to the ministry.

According to the folder, the Ministry of Citizenship will offer financial education actions. When contracting the product, he says, beneficiaries will have to answer a questionnaire that will measure their knowledge on the subject and the ability to administer the loan.

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