Banks approve credit for those with bad credit
According to the sanction of Provisional Measure (MP) 1,006/20, policyholders of the National Institute of Social Security (INSS) can obtain credit for those with bad credit in the assigned form in the amount of 40% of retirement or pension.
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The increase was due to the coronavirus pandemic. According to the text, the measure is valid for the duration of the state of emergency, which will remain in effect until December 31, 2020.
In addition, the government also maintained the possibility of using 5% of the benefit through a credit card.
Credit for those with bad credit
According to the Federal Government, the measure also covers INSS beneficiaries who are in default.
Thus, the objective is to guarantee access to people with a negative credit rating, in the consigned modality, that is, with lower interest rates.
The Brazilian Federation (Febrabran) announced that banking systems have already adapted to the new rules, so interested parties can take out a loan with the increase.
Each bank sets a maximum amount, which is up to 1.8% per month for a payroll loan and 2.70% for the card.
Thus, to date, Banco do Brasil, Bradesco, Itaú Unibanco and Santander have made available the increase in the assigned margin.
New grace period
In June, new rules were established for granting payroll loans to retirees and beneficiaries.
One of them concerns the loan payment term, which is now 90 days.
Furthermore, the benefit blocking period is reduced from 90 to 30 days after the credit is granted.
How to apply for a loan?
To apply for credit for those with bad credit, you need to go to one of the banks that offer this type of loan and make the request.
Regarding the payment, it will be deducted directly from the beneficiary's payroll, which makes everything much simpler and easier for the financial institution and the loan applicant.
