What is a Reform Card and where to apply?

The home improvement card can be a great ally for those who want to realize their dream of building or renovating their own home!

In Brazil, more than 8 million families live in homes with inadequate conditions, according to the 2010 Census.

Aiming to reduce the qualitative housing deficit affecting these families and improve their quality of life, the Government created the Reform Card Program.

To learn more details about this program and find out how to register, read the text to the end!

See the post index below:

• What is a retirement card?
• Who is entitled?
• What are the benefits?
• Where to apply?
• About Construcard
• Who can apply?
• What can be purchased with this card?
• Where to apply?
• Conclusion.

What is a retirement card?

THE Cartão Reforma is a program of the Federal Government. The main purpose of this program is to ensure that low-income families have the means to improve their housing and thus improve their quality of life.

Furthermore, this program aims to encourage trade in the construction industry.

With it, the families selected have access to subsidies to purchase construction materials and assistance from professionals in the civil construction sector.

This service is fully subsidized, meaning it is not a loan and there is no need to pay any installments or receive any reimbursement.

The families' role will be to cover labor costs or any extra expenses that the renovation may require, such as tools and equipment needed to carry out the work.

The government estimates that each family will receive R$$5,000.00 to renovate or expand their homes.

In the case of families benefiting from social housing programsHowever, since the house still needs finishing touches, such as flooring and other finishing work, the funds can be used for that purpose.

Who is eligible for the Reform Card?

The program is intended for low-income families; in this case, the gross monthly family income cannot exceed R$1,800.

Furthermore, you must be over 18 years old and a Caixa customer, as they are responsible for disbursing the incentive.

What are the benefits of the program?

With the Reform Card Low-income families have the opportunity to fulfill their dream of renovating or expanding their homes.

The dream of owning or renovating a home divides the hearts of thousands of Brazilians, however, they lack the financial means.

In many cases, it's not about aesthetics, but because the houses lack the proper conditions for a dignified and quality stay.

Therefore, with this program, families have the opportunity to change this situation without having to spend money they don't have or incur a large debt.

Furthermore, the program generates jobs and income in the construction sector and encourages national industry, all of which is beneficial for the country's economic development.

Where to apply?

Unfortunately, up to the present moment, the Reform Card Program he was suspended And there is no estimate of when it will return.

The suspension occurred due to the operational costs incurred in the process of its restructuring. 

However, Caixa created a line of credit to help these families realize their dream of renovating or expanding their homes – the Construcard!

About Construcard

Construcard is like a loan and works in two stages: utilization and amortization.

During the usage phase, the customer purchases the materials and pays with this card. The purchase period can be up to 6 months.

During this period, the customer does not pay the outstanding balance, only the interest on the amounts used.

After the usage period, which can range from 2 to 6 months, the customer begins to repay the debt. In other words, loan installments only start to be paid off when the usage period for the balance ends.

The amounts are deducted monthly from the customer's checking account; the installment amounts will not change until the debt is fully paid off.

The distinguishing feature of this financing model is that the customer needs to provide some form of collateral.

The Caixa Econômica Federal accepts different types of collateral, for example, a vehicle secured by a lien.

As with secured loan models, the pledged assets also provide greater security for the bank, allowing it to offer better payment terms and lower interest rates.

The terms offered by Caixa can reach up to 240 months, with interest rates starting from 2.51% per month.

Who can apply?

THE reform card, The service offered by Caixa Econômica Federal can be requested by individuals 18 years of age or older, or emancipated minors.

In addition, it is necessary to be a bank customer and pass the credit check.

What can be purchased with the Construcard home improvement card?

This card is intended for home renovation, expansion, or construction; in this case, it is exclusively for purchasing construction and renovation materials, for example:

• bricks;
• floors;
• windows;
• paints.

Besides that, it's still possible to buy custom-designed furniture, swimming pools, and water tanks.

Where to apply?

To apply, go to a Caixa branch or Caixa Aqui correspondent, bring your main documents, for example, ID, CPF (Brazilian tax identification number), proof of address and income, and documentation of the asset you will use as collateral.

If you pass the credit check and receive your reform card With Construcard, you just need to unlock it and use it at any of the 85,000 Caixa-affiliated stores throughout Brazil.

Conclusion

Unfortunately, the Government Program Card Reform It is deactivated. However, you can opt for the Caixa Construcard.

Although it is not a benefit and has a financing character, its target audience is low-income families, thus it has facilitated conditions and an accessible interest rate.