INSS (National Social Security Institute) retirees and pensioners who need a payroll loan may pay more for it, depending on the bank from which they seek credit. Since December 10, institutions that offer the modality can already charge the new interest.
The maximum interest rate to be paid on the payroll loan increased from 1.80% per month to 2.14%. On the payroll-deductible credit card, the rate, which was 2.7% per month, went to 3.06%. The INSS payroll is a credit controlled by the CNPS (National Social Security Council) and has its own rules.
According to the rules, the bank can charge the interest defined by it, as long as they do not exceed the limit authorized by government publication. It is still possible to get cheaper credit, depending on the bank.
At Folha’s request, Wagner Souza, a lawyer at Roberto de Carvalho Santos Advogados Associados and a specialist in social security calculations, simulated the values ​​of the installments for payroll-deductible loans ranging from R$1,000 to R$15,000.
Calculations were made for the personal loan, which has the lowest rates, and the credit card, which has the highest rates. Under the rule valid until December 31 of this year, the retiree or pensioner can commit up to 35% of the benefit with the loan and up to 5% with the credit card, adding up to 40% of the consignable margin.
See value simulations
Payroll loan with new interest of 2.14% per month
| Loan amount (in R$) | Number of plots | Installment (in R$) | Total to be paid (in R$) | Total amount of interest (in R$) |
| 1.000 | 84 | 25,75 | 2.163,00 | 1.163,00 |
| 3.000 | 84 | 77,24 | 6.488,16 | 3.488,16 |
| 5.000 | 84 | 128,74 | 10.814,16 | 5.814,16 |
| 10 thousand | 84 | 257,48 | 21.628,32 | 11.628,32 |
| 15 thousand | 84 | 386,22 | 32.442,48 | 17.442,48 |
Payroll loan with old interest, 1.80% per month
| Loan amount (in R$) | Number of plots | Installment (in R$) |
Total to be paid |
Total amount of interest (in R$) |
| 1.000 | 84 | 23,18 | 1.947,12 | 947,12 |
| 3.000 | 84 | 69,54 | 5.841,36 | 2.841,36 |
| 5.000 | 84 | 115,90 | 9.735,60 | 4.735,60 |
| 10 thousand | 84 | 231,80 | 19.471,20 | 9.471,20 |
| 15 thousand | 84 | 347,69 | 29.205,96 | 14.205,96 |
Credit card with new interest, 3.06% per month
| benefit amount (in R $) |
Number of plots | Credit (in R $) |
installment (in R $) |
Total payment (in R $) |
Interest amount (in R $) |
| 1.100 | 32 | 1.112,28 | 55 | 1.760 | 647,72 |
| 2.000 | 32 | 2.022,33 | 100 | 3.200 | 1.177,67 |
| 3.000 | 32 | 3.033,49 | 150 | 4.800 | 1.766,51 |
| 4.000 | 32 | 4.044,66 | 200 | 6.400 | 2.355,34 |
| 5.000 | 32 | 5.055,82 | 250 | 8.000 | 2.944,18 |
| 6.000 | 32 | 6.066,98 | 300 | 9.600 | 3.533,02 |
| 6.433,57 | 32 | 6.505,42 | 321,68 | 10.293,71 | 3.788,29 |
Credit card with old interest, 2.7% per month
| Benefit amount (in R$) | Number of plots | Credit (in R $) |
installment (in R $) |
Total payment (in R $) |
Interest amount (in R $) |
| 1.100,00 | 32 | 1.168,59 | 55 | 1.760 | 591,41 |
| 2.000,00 | 32 | 2.124,71 | 100 | 3.200 | 1.075,29 |
| 3.000,00 | 32 | 3.187,06 | 150 | 4.800 | 1.612,94 |
| 4.000,00 | 32 | 4.249,41 | 200 | 6.400 | 2.150,59 |
| 5.000,00 | 32 | 5.311,76 | 250 | 8.000 | 2.688,24 |
| 6.000,00 | 32 | 6.374,12 | 300 | 9.600 | 3.225,88 |
| 6.433,57 | 32 | 6.834,75 | 321,68 | 10.293,71 | 3.458,96 |
HOW DOES IT WORK
The INSS payroll is controlled by the CNPS and has its own rules. Among the controlled rules are the maximum interest rates decided by the board, in addition to the number of months to pay and the limit that can be borrowed by the retiree.
As of 2022, the rules must return to what they were before the pandemic and the retiree or pensioner will be able to commit up to 35% of their monthly income with these debts: 30% for the loan and 5% for the payroll credit card.
Until December 2021, the maximum number of monthly installments to pay the debt continues to be increased from 72 to 84 months (from six to seven years of payment). As of 2022, it is back to 72 months.
In addition to deciding on the interest on the loan, the CNPS meeting in November, at which rates rose, defined that there will be a financial and social security education program for retirees, pensioners and their families funded by banking institutions.
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