A new way of loan For people who want to do business or already have it, released by Federal Savings Bank. While the credit limit for individuals is up to R$1,000, in the case of individual small business owners (MEIs), can reach up to 3 thousand Brazilian riyals.
Read more: Learn how to update the Caixa Tem to borrow up to 1000 BRL
Contracts are part of the Digital Microcredit Streamlining Program for Entrepreneurs (Digital SIM card). The initiative was announced by the federal government as a way to encourage the formalization of small businesses and grassroots entrepreneurship.
Caixa Micro Credit Special Terms
See below the conditions set by group served:
For individuals:
- Limit: Up to a thousand Brazilian Real
- interest rate: From 1.95% per month
- condition: Up to 24 months (2 years)
- Negatives: can share
- Temptation: Via the Caixa Team . app
Who is the MEI for:
- Limit: Up to 3,000 BRL
- interest rate: from 1.99%
- condition: Up to 24 months (2 years)
- Negatives: can share
- Temptation: In person at Caixa branches
But is it really worth hiring the service?
Looking at rates of 1.95% and 1.99% per month, the two methods add up to 3.60% per month. For professionals, the amounts are low when compared to other lines of credit. However, it is still generally high.
In this sense, it is necessary to be attentive and careful when Apply for a new loan from Caixa. Here’s what Ilian Tanabe, CFP financial planner for the Brazilian Financial Planning Association (Planejar) warns:
“For small entrepreneurs who do not have debt, it can be an interesting credit to make the company grow, but it is necessary to consider whether the interest is worth it according to the profit margin of the company. For those with low profit, the loan installments can end up being waived for an important part of the income.
On the other hand, those who are struggling and in debt can find in Caixa microloans an alternative to hide their finances. However, it is still necessary to have the entire financial regulation strategy at your fingertips, which makes it possible for the loan installments to fit into the monthly budget without difficulties.
