Brazilians benefiting from the Auxílio Brasil program may suffer a reduction in benefit premiums for two main reasons in the coming year, which will hurt thousands of families, who will have to bend backwards to take on new costs.
Continue reading the article below to understand how the new credit limit associated with the program offered by banks affects this outcome.
Reduction in the amount of Brazilian aid
According to information from Caixa Econômica, the Auxílio Brasil salary loan has already been launched for more than 700,000 program beneficiaries through the foundation alone. This means that all families were able to contract out a maximum credit of R$2,600 at that time.
According to the rules for granting the loan, beneficiaries can commit up to 40% of the value of the assistance installments, which is currently converted into R$600 per family. However, for payroll recruitment, only the standard amount of R$400 is considered, since the current transfer is working as a bonus and is due to expire in December of this year.
Given these data, until the end of the year, citizens will receive a transfer of R$440, since the direct deduction from the payroll for the payment of salary installments will be, at most, R$160. However, as of January of the year that comes with a return of R$400, beneficiaries should receive only R$240 while the loan continues to be repaid.
For example, those who hired in October will actually start receiving the payroll deduction from November. In these cases, it is always a good idea to stress the importance of financial planning to avoid jeopardizing the gains from the assistance. In the case of contracting for less payroll amounts, the discount on premiums is also lower.
see also: Has the new Auxílio Brasil beneficiary suspended? understand what’s going on
Shipment contract rules
According to the Ministry of Citizenship, which was the regulatory portfolio for the Auxílio Brasil payroll loan, the interest charged by institutions offering this method can reach a maximum of 3.5% per month. By the way, banks can offer lower rates, as is the case with Caixa itself, which applies an interest rate of 3.45%.
In contrast, the debt repayment deadline has a maximum period of R$24 per month, with credit freeing between two and five days after approval. This means that families who have taken out the credit will receive a discount of R$160 for a maximum of two years, with program premiums committed for an extended period of time.
It should be noted that in order to apply for the method, it is necessary that the allowances have been received for more than three months, as a form of stability. Despite this, there is always the possibility that the beneficiary will lose his right to the program, and if this happens, he will have to repay the loan with the amounts he withdraws from his own pocket.
see also: Can a Personalized Advantage Loan Expire? Check the Supreme Court’s decision
