After the regulation of the decree, the loan for Auxílio Brasil beneficiaries has now been released. On average, there are already 60 financial institutions that have expressed interest in offering payroll loans to beneficiaries.

To participate, institutions must go through a qualification process at the Ministry of Citizenship, governed by Ordinance 816, which was published on September 27th.

In an interview with Voz do Brasil on the 28th, the Minister of Citizenship, Ronaldo Bento, confirmed that, among the banks, Caixa Econômica confirmed in a note the operation with the program's consignment. 

This allows families to pre-register, qualify and withdraw funds.

The minister also highlighted that the loan can be used by beneficiaries who acted as micro-entrepreneurs before the financial impact of the Covid-19 pandemic. According to Bento, almost 21 million families benefit from the program and that all those living in poverty and extreme poverty, registered in CadÚnico (Cadastro Único) are supported by Auxílio Brasil.

The beneficiary of Auxílio Brasil will be eligible to take out the loan, without credit analysis by banks.

The amounts are deducted directly from the payroll, with the possibility of committing up to 40% of the benefit, taking into account R$ 400 (payment of up to R$ 160). The maximum payment allowed is 24 installments and interest cannot be greater than 3.5% per month.

It is stipulated that it is mandatory for the financial institution to inform the interest rates and amounts paid by the citizen. Active marketing, such as calls or direct advertising, charging a Credit Opening Fee (TAC), along with other administrative fees, is not permitted.

It is not acceptable for the bank or financial institution to establish some type of grace period for payments to begin. 

The rules for payroll-deductible credit can be consulted at ordinance published in the Union Gazette for the consignee.

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