The Federal Government announced on Monday (10), the release of consigned credit for beneficiaries of Auxílio Brasil and BPC (Continuous Payment Benefit). So far, there are 12 banks and financial institutions that can lend, including Caixa Econômica Federal.

However, some institutions are still analyzing how they will offer the loan to beneficiaries, others have said that they should not proceed with the operation, and others have not yet made the funds available for withdrawal.

Caixa released the conditions, clarifying that it will initially work with financial education for the customer, with the aim of exchanging a more expensive debt for the Auxílio Brasil loan.

According to Decree No. 11,170 of the Ministry of Citizenship, the interest rate ceiling is 3.5% per month charged by banks. However, each institution can set a lower interest rate if they prefer, depending on negotiation with the beneficiary.

Below are the rates announced by each institution approved by the government to carry out the Auxílio Brasil loan.

Caixa Econômica Federal – On Tuesday (11), Caixa is offering the Auxílio Brasil loan with interest of 3.45% per month. The beneficiary can request the loan through the Caixa Tem App, in “Loans” > “Simulate and Contract” > “Consigned Loan”, or through Caixa's more than 26 thousand service points, such as branches, bank correspondents and lottery outlets.

Pintos S/A Credits – Also since Tuesday (11/11), Pincred, Pintos SA CFI began operations for the loan. According to the institute, the interest rate is 2.89% per month and the loan can only be made in person.

QI Sociedade de Crédito Direto S/A – The institution informed that interest rates for Auxílio Brasil consignments start at 3.39% per month.

Pan Bank – According to Banco Pan, no new proposals are being accepted, only the analysis of credits for pre-registered customers, and the sending of proposals to those pre-approved.

Banco Daycoval S/A – The bank announced that it has not yet started granting the Auxílio Brasil loan, as activating the product requires unforeseen adjustments to the system.

Facta Financeira S/A Credit, Financing and Investment – The institution informed that it will cancel the active operations of the modality and decided not to accept the new proposals until the pending issues regarding the product are all defined.

Banco Agibank S/A and Banco Safra S/A – Both banks said they are still analyzing the option of offering the loan modality.

The other approved financial institutions such as Banco Crefisa S/A, Capital Consig Sociedade de Crédito Direto S/A, Valor Sociedade de Crédito Direto S/A and Zema Crédito Financiamento e Investimento S/A have not yet specified what the rate will be and what it will be the date for releasing the values.

According to the rules established by the Ministry of Citizenship, the maximum amount to take out the Auxílio Brasil loan is up to 40% of the monthly value of the benefit. R$ 400 should be considered and not R$ 600, which will only be paid until December. Thus, the maximum installment value is R$ 160, leaving R$ 240 for the monthly family budget.

Installments can be made in up to 24 installments, and the interest rate cannot exceed 3.5% per month. When taking out the loan, the financial institution must indicate the interest rate applied and the real cost of the loan.

It is not permitted to charge a Credit Opening Fee or other administration fees or grace period to start paying installments. If the benefit is cancelled, the loan will continue to be valid.

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