How do I unlock a BPC loan? Check out the new rules!

How to unlock a BPC loan is one of the most common searches since this alternative emerged.

This is because, for a long time, it was not possible to obtain credit through the BPC, as this is a social benefit, not a retirement pension.

But now everything has changed, so that banking institutions have started to offer options to the public.

However, what is a BPC loan? How do I apply? Is it possible to be denied credit? 

All of these questions are very common to this topic, and for this reason we will answer them in today's material.

So, if you want to know everything about this type of credit, don't miss the content below! 

What is BPC?

The purpose of today's material is to clarify doubts about unblocking the BPC loan.

However, for the subject to be fully explained, it is important to familiarize yourself with even the basic concepts.

Therefore, we will begin with an explanation of what BPC is, as many people have a misconception about this right.

BPC (Continuous Progression Benefit) is a social benefit regulated by LOAS (Organic Law of Social Assistance).

This benefit aims to guarantee subsistence for elderly people over 65 years of age or people who are unable to work for a long time.

The idea behind this benefit is to provide financial assistance to citizens who have a proven inability to carry out activities to support themselves financially.

Thus, BPC is paid monthly, in an amount equivalent to 1 (one) current national minimum wage.

For this reason, many confuse BPC with retirement, but this view is wrong, since this is a social benefit, which has no relation to social security.

It is important to emphasize that in addition to proving the need due to impediment, the applicant must also prove a low family income situation.

Therefore, those who face low-income situations and:

• Be over 65 years of age;
• Have a disability/permanent condition report;
• They face health problems that prevent them from working for a minimum period of 2 years.

As it is a social benefit, BPC does not include a 13th salary, meaning only 12 annual installments are paid.

This information is very important to understand everything about how to unlock a BPC loan.

Understand everything about the BPC loan 

At this point, you understand everything about BPC, and you've already said goodbye to the idea that this is a type of social retirement.

This is because, although the BPC is aimed at people in vulnerable situations, and can be permanent, it does not have a social security nature.

Therefore, this is a social benefit that guarantees a minimum income, just like Bolsa Família.

For this reason, for a long time it was not possible to apply for loans with BPC as collateral.

This has always been an alternative for those receiving retirement benefits, thanks to the payroll loan.

However, this reality has now changed, so that banking institutions have started to offer BPC loans.

In this modality, those who receive the benefit can obtain credit, using the benefit itself as collateral.

This is because this modality is part of the group of payroll loans, which discount the installments "directly from the source".

Therefore, those who take out the loan already receive the benefit with the discounted installment.

It is worth mentioning that there are specific rules for requesting this loan.

The first is that it cannot compromise more than 35% of the benefit.

Furthermore, the hiring value is a maximum of 12 times the benefit value, that is, R$ 15,840.00, considering the current national minimum wage.

It is worth mentioning that the credit contracting is done with common banking institutions, and follows their rules, rates and concession criteria.

In the following topic we will see how you can make this request.

How to unlock BPC loan

Many people wonder how to unlock a BPC loan, believing that some type of authorization is required to do so.

But, as we have already seen, this type of loan is granted through common banking institutions.

Therefore, the correct word would not be "unlock", as it makes more sense to request the loan.

We would like to inform you in advance that granting a loan depends on the bank's own analysis, which has specific and particular criteria.

Therefore, the first thing you should do is look for a bank that offers this type of credit.

Once that's done, do some research to find the best rates and conditions.

Once you find the best offer, go to the financial institution and apply for the loan.

You will have to present your documents and personal information, in addition to confirming receipt of the benefit.

This will provide the company with the data for evaluation, which, if approved, will earn you money for payment in installments.

It is worth mentioning that the beneficiary's legal representative can also request the loan if the beneficiary is unable to do so on their own.

Furthermore, the loan amount depends on the credit analysis, so it is not possible to know the loan amount before this procedure.

In any case, if your loan is approved, you will receive the amount based on the company's rules, and the payment will be made automatically using the benefit.

Important information before unlocking your BPC loan 

After everything we've seen above, we can conclude that applying for a BPC loan is straightforward.

This is because you just need to pass the credit analysis carried out by the creditor.

However, there are some items that deserve attention when applying for this type of loan.

This is because the BPC is a minimum income guarantee benefit, so compromising it thoughtlessly can have serious consequences for your income.

Therefore, it is important that you think carefully before applying for a loan, in addition to carefully evaluating the interest charged.

This way, you avoid unfavorable contracts that could lead to debt or even harm your monthly income.

Another important point is the amount of the loan released.

This is because, as we well know, the BPC has low-income status as its criterion.

When you receive a significant amount into your account, your financial situation may change in the CadÚnico.

This may block your benefit, as BPC payments are interrupted if the beneficiary's financial situation changes and they are no longer low-income.

Therefore, it is essential to be careful in this matter, so as not to lose the BPC, which is certainly very important for the subsistence of beneficiaries.

That said, you now know what points deserve your attention when trying to unlock a BPC loan.

Therefore, if you need to opt for this option, be sure to use the tips to do so in an advantageous and safe way!