In the Auxílio Brasil payroll loan, beneficiaries can use up to 40% of the program amount to contract credit with several financial institutions in the country, with interest of up to 3.5%. See who can start taking out the loan.
The main requirement to take out the Auxílio Brasil payroll loan is to be a beneficiary of the program, that is, to have an up-to-date record in the Cadastro Único (CadÚnico) and to be part of a family in extreme poverty or poverty:
- Extreme poverty: per capita monthly family income of up to R$105;
- Poverty: per capita monthly family income between R$ 105.01 and R$ 210, which has pregnant women or people under 21 among its members.
With the monthly inclusion of new beneficiaries in the program, more Brazilians are able to take out payroll loans at one of the banks that are operating with this modality.
How to take out the Brazil Aid loan
Currently, five of the 14 financial institutions with permission from the Ministry of Citizenship are operating with the payroll loan modality:
- Caixa Econômica Federal;
- My everything;
- Pan Bank;
- Zema Financial.
Caixa has a requirement that the citizen has been a beneficiary of the program for at least three months, that is, those who started to receive the aid in August can now apply for credit with the bank, while other institutions have other rules of their own, without disclosing the time required as a beneficiary to be able to take out the loan.
Hiring can be carried out at physical branches or via application:
|Financial institution||Interest rate||where to hire|
|Caixa Econômica Federal||3.45% per month||Bank branches, Lottery Houses and Caixa Tem App|
|My everything||3.39% per month||Application|
|Pincred||2.89% per month||Branches in Maranhão and Piauí|
Brazil Aid loan rules
The Auxílio Brasil payroll loan can be contracted by any beneficiary of the program, who can commit up to 40% of the benefit to the monthly payment of the credit, with the discount being made directly from the program. With the base amount of BRL 400, it is possible to allocate up to BRL 160 per loan installment, if the benefit amount rises to BRL 600 in 2023, beneficiaries will be able to use up to BRL 240 for the operation.
The modality has an interest ceiling set at 3.5% per month, with the possibility of finance companies charging lower rates. Payment must be made in up to 24 monthly and successive installments, being made directly from the payroll. If the citizen ceases to be a beneficiary of the program, he must pay the loan.