Caixa suspends Auxílio Brasil loan again

Caixa Econômica Federal suspended, until November 14, the granting of the payroll loan linked to Auxílio Brasil. The suspension had already taken place between October 21 and 24 due to high demand.

“Caixa informs that, during the processing of the Auxílio Brasil payroll, a process that involves Dataprev, Caixa and the Ministry of Citizenship, from 7:00 pm on 11/01/2022 until 7:00 am on 11/14/2022, the Consigned Aid will not be available for contracting”, says a note from the state bank.

Aid recipients who sought loans from Caixa were already having to wait longer to get the money. After the TCU (Union Court of Auditors) recommended that the loan be suspended until further studies were carried out on the vulnerability of the public, the bank decided to increase the response time for citizens from two to five days.

According to the latest balance sheet, Caixa Tem had 206 million hits between the 11th — when the loan started to be offered by Caixa — and the 20th of October. In the same period in September, there were 25 million hits.

In three days of payroll, Caixa released R$ 1.8 billion to 700 thousand people. The high demand raised the alarm in sectors of society that are against the compulsory indebtedness of more than 20 million families benefiting from Auxílio Brasil.

How does the Auxílio Brasil consignment work?

Citizens who receive Auxílio Brasil can borrow up to 40% of the amount with payroll. The installments are discounted from month to month, directly from the benefit. It is possible to borrow up to R$ 2,569.34, in 24 installments. The maximum monthly amount to be paid is R$ 160, considering the base value of the aid, which is R$ 400. The reason is that the R$ 600 would be temporary, only until December.

Interest is limited to 3.5% per month, which is 51.11% per year, above the rate charged on the payroll of INSS (National Social Security Institute) retirees, of 2.14% per month. At Caixa, the rate is 3.45% per month. Considering the current BRL 600, the beneficiary remains BRL 440 per month.

Who can take out the loan

The consignee can be hired by the family responsible registered in Auxílio Brasil who has been receiving the benefit for more than 90 days, does not have a benefit with an end date (by the emancipation rule, when the beneficiary gets a formal job, but is still entitled to the benefit if the income per person in the family is up to R$ 525) and has not failed to attend the summons from the Ministry of Citizenship for registration update.

Debt remains even after benefit ends

Anyone who takes out the credit and loses the benefit has to pay the debt until the end of the contract. If there is a delay, they will pay a fine and interest. The rule e is in regulations published at the end of September, but many believe that the debt is forgiven or is left to the government.

Those from Caixa Econômica Federal — the largest bank to offer the loan — and the Ministry of Citizenship provide the information, but not in a clear way. To know the details, the citizen needs to search in questions and answers.

HOW TO ORDER THROUGH CAIXA TEM

Access the Caixa Tem app and simulate how much you can hire:

1. Click on the “Loan” option
2. Go to “Simulate and Hire”
3. Now click on “Consigned”

The simulation will tell you:

• The loan interest rate
• The duration of the contract
• The value of each installment
• The amount you will receive from aid if you take out the loan
• The total amount you will pay for the loan at the end

IN AGENCIES, LOTTERIES AND CORRESPONDENTS

Employees of financial institutions must inform the beneficiary that they wish to take out the loan:

• Total amount contracted with and without interest
• Effective monthly and annual interest rate
• Remuneration, moratorium and tax additions levied on the contracted credit
• Amount, quantity and frequency of installments
• Sum of the total payable at the end of the loan
• Discount start and end date
• Net amount of the remaining benefit after hiring
• CNPJ of the bank branch or bank correspondent
• Amount of the commission paid to outsourced workers hired by financial institutions to carry out the sale of credit