CRISTIANE GERCINA
SÃO PAULO, SP (FOLHAPRESS)
At least five banks in the country began offering BPC payroll loans (Continuous Payment Benefit) after the STF (Federal Supreme Court) ruled on the issue and the INSS (National Social Security Institute) published the rules for the measure. Two of them are preparing to resume the line and one institution says it is evaluating the release.
The loan for those who receive assistance income of a minimum wage – currently R$ 1,320 – was considered constitutional by the Supreme Court in a trial that ended on Monday (11).
Among the banks that have already offered again are Banco do Brasil, Mercantil, C6, Bradesco and Itaú Unibanco. Caixa Econômica Federal says it has started the necessary adjustments for the resumption, PagBank says it is preparing and Banrisul is evaluating. BMG and Nubank said they would not participate in the report. The rest did not respond.
The payroll loan is a loan with a direct discount on the benefit. According to the rules, the insured can commit up to 30% of their income to a personal loan and a further 5% to a credit card, benefit card or withdrawal.
Interest is controlled by Social Security, through the CNPS (National Social Security Council) and, in this modality, the rules approved for retirees and pensioners apply.
The loan can be made in up to 84 installments, which is seven years. The maximum rates are 1.91% per month for the personal loan and 2.83% per month for the card.
Banks are free to choose whether or not to operate the loan, and can offer or stop offering as they see fit. Interest rates may be lower than those defined by Social Security, but not higher.
For experts, the release of this type of credit is worrying, on the one hand, because it is a financially vulnerable portion, since the BPC is a benefit linked to the Loas (Organic Social Assistance Law). On the other hand, it is a way of including this population in access to credit that is controlled and has rules that aim to limit debt.
Elderly people aged 65 and over and people with disabilities who are part of a family with a per capita income (per person in the family) of up to a quarter of the minimum wage are entitled to the BPC, which amounts to R$330 this year.
It is not necessary to have contributed to the INSS to receive the benefit. Unlike retirement, pension and aid, beneficiaries do not receive 13th.
The interest rates offered by banks range from 1.70% per month to 1.91% per month for personal loans. In the case of the card, it is 2.83%. The maximum that can be committed to a personal loan per month is R$396. Itaú Unibanco offers credit with a minimum installment starting at R$150.
Cíntia Senna, executive partner of Dsop, an organization focused on financial education, states that any credit offer must be analyzed very carefully, because, when contracting, the beneficiary will compromise their income for many months.
“In order for me to access a loan, I need to think that it will have to be paid with interest and correction. In the case of BPC, it is also necessary to remember that I will already receive my benefit with this discounted installment. The primary attention is to know that In the coming months, I will have to live with a lower income”, he says.
Another problem, according to Cíntia, is the fact that the BPC is a benefit that is not lifelong, that is, it can be cut if the citizen improves their condition and falls outside the payment rules. Therefore, anyone who is going to take out a loan to start a business needs to organize themselves to actually be able to generate enough income to support themselves if they reach the benefit cut-off line.
“It is necessary to see what the destination (of the borrowed amount) will be. Will it bring me income or will it generate more costs? This is an important detail to observe, not only for those who have the BPC and take out loans, but for the population as one all.”
The financial educator also says that it is necessary to be aware of harassment from banks and financial institutions or even scams, because the beneficiary ends up being more susceptible to those who commit financial crimes.
The main tip is to never sign any document without knowing what it is and be extra careful when closing a loan remotely, via the internet, telephone or ATM, as it could be fraud.
At Folha’s request, Cíntia and Miguel José Ribeiro de Oliveira, executive director of studies and research at Anefac (National Association of Finance, Administration and Accounting Executives), carried out loan simulations, in accordance with the rules offered by banks. Look:
HOW MUCH CAN YOU BORROW, INSTALLMENT AMOUNT AND HOW MUCH YOU WILL HAVE TO PAY
1 – Loan with an interest rate of 1.91% per month, with a term of 84 months
– Maximum loan amount: R$ 16,501.91
– Installment value: R$ 396
– Total amount paid at the end of the contract: R$ 33,264
– How much interest will be paid: 16,762.06
2 – Loan with an interest rate of 1.70% per month, with a term of 84 months
– Maximum loan amount: R$ 17,641.02
– Payment: R$ 396
– Total paid at the end of the contract: R$ 33,264
– How much interest will be paid: 15,622.98
3 – Minimum loan of R$150, with interest of 1.91% and a term of 84 months
– Maximum loan amount: R$ 6,250.72
– Payment: R$ 150
– Total paid at the end of the contract: R$ 12.6 thousand
– How much interest will be paid: R$ 6,349.28
4 – Minimum loan of R$150, with interest of 1.70% and a term of 84 months
– Maximum loan amount: R$ 6,682.21
– Payment: R$ 150
– Total paid at the end of the contract: R$ 12.6 thousand
– How much interest will be paid: R$ 5,917.79
The simulations do not consider the collection of IOF (Financial Operations Tax) or hiring fees, which may vary from bank to bank
According to the INSS, there are currently 5.5 million citizens receiving the BPC. Of the total, 1.7 million already have at least one active payroll loan contract. This is because the measure had been released last year and then lost its validity. Of policyholders who have a loan, the average discounted amount, says the agency, is currently R$434.97.
WHAT BANKS SAY
Banco do Brasil informs that it resumed contracting the payroll loan line for those who receive the BPC on September 14th, after the INSS published the normative instruction with the new contracting rules. BB operates under the INSS agreement with rates ranging from 1.76% to 1.89% per month and with a term of up to 84 months.
Banco Mercantil states that it offers payroll loans to BPC beneficiaries, following INSS regulations, with an interest rate of 1.91% and the maximum number of installments is 84. Mercantil also offers a payroll card with interest of 2.83 % per month.
PagBank informs that it has already had a portfolio of this benefit since last year and maintained customers when operations were interrupted. Now, the bank is preparing to resume the loan, according to the rules. Interest is 1.70% per month and 20.4% per year for the payroll-deductible personal loan. PagBank does not work with payroll cards.
C6 Bank says it offered payroll loans to BCP beneficiaries until last year, when this modality was suspended, and resumed the offer after the publication of the INSS normative instruction, made on Wednesday (13), complying with the defined rates for the government. The maximum rates are 1.91% for INSS operations and the maximum term is up to 84 months.
Bradesco started granting loans to BPC beneficiaries this Friday (15). The bank did not inform, however, what interest rates were charged and whether or not it offered the payroll card. In general, interest varies depending on the customer’s relationship with the institution.
Itaú Unibanco says it only offers payroll-deductible personal credit, with an interest rate of 1.91% per month, with a term of up to 84 months. The minimum payment is R$ 150. To contract, the insured must present an identification document, formalization of the contract and authorization to consult data at Dataprev (federal government technology company). Contracting can be done via cell phone, ATM, at branches or through a certified banking correspondent.
Caixa informs that following the rules published by the INSS, the bank began the necessary adjustments to resume offering credit to BPC beneficiaries. “For payroll loans, in principle, the conditions for offering the product will be the same as those adopted for other INSS beneficiaries, with an interest rate starting at 1.70%.” According to the bank, the INSS payroll card is suspended.
Banrisul informs that it is evaluating the credit modality, but initially it will not operate. BMG and Nubank said they would not participate in the report. The rest did not respond.
SEE THE INTERESTS OFFERED BY BANKS, PER MONTH, FOR CONSIGNATED CREDIT
Bank – Consigned personal loan – Consigned card
Banco do Brasil – 1.76% to 1.89% – did not inform
Itaú Unibanco – 1.91% – not yet available
Mercantile – 1.91% – 2.83%
PagBank – 1.70% – does not offer
C6 – 1.91% – did not report
Bradesco – did not inform – did not inform
Caixa Econômica Federal* – 1.70% – is suspended
*The public bank is still preparing to resume the credit line, but must offer the same conditions as it currently exists for retirees and pensioners
The post Banks resume BPC consignments appeared first in Jornal de Brasília.
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