Caixa Tem Loan – See how to apply
Beneficiaries of government social programs who opened social savings accounts during the pandemic can access a new line of credit through Caixa Tem. According to Caixa's president, Pedro Guimarães, this credit option is expected to become available as soon as possible.
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Through the loan Caixa Tem, The state-owned company will provide further financial support to the most vulnerable people who have been affected by the coronavirus pandemic.
With the end of emergency aid, which served 68 million people, offering small amounts is seen as a way to financially help those most affected by the crisis.
About the Caixa Tem loan
According to the president of Caixa, the measure aims to reach 10 million low-income microentrepreneurs and self-employed workers. Initially, the estimated value of the program will be R$10 billion, but there is potential for an increase if necessary.
Caixa Tem users would benefit from the most advantageous interest rates compared to what's currently offered on the market. Estimated interest rates range from R$1.51 to R$2.51 per month. Initially, the credit limit could be R$1,000, but higher amounts are expected.
As Caixa Tem offers loans, it focuses on low-income Brazilians who have not previously had credit approved by other financial institutions due to the need to prove their income.
Caixa Tem Functions
Caixa Tem was created for emergency aid and FGTS, where the application offers users a series of features that help in their daily lives.
Among the features available is a virtual card, which allows online purchases. Additionally, you can pay for purchases using a QR code on the card reader. Not to mention withdrawal and bank transfer functions.
