Bolsa Família loan will be released with a rate of 1.2%
The Federal Government is working to create a credit line within the Bolsa Família program. For weeks, political representatives have been announcing a series of proposals to reform the Bolsa Família program.
Advertisements
In addition to increasing salaries and the number of insured people, the Ministry of Citizenship plans to grant a loan with a rate of 1.2% per month.
Changing the Bolsa Família program has become one of Jair Bolsonaro's main campaign strategies. With his sights set on the 2022 election, the head of state has been narrowing his social public policies as a way to secure voters from the most vulnerable populations.
Thus, since 2020, Bolsonaro and his team have been announcing a proposal for comprehensive reform of the Bolsa Família program.
The measure aims to increase government investment in social services, ensuring that a greater number of Brazilians benefit from salary increases.
What will the Bolsa Família loan be like?
A loan is a line of credit, generally provided by financial institutions, where a certain amount is advanced to the applicant who pays it in installments and with interest.
Within the BF program, the government will partner with Caixa Econômica Federal. The projected loan amount is up to R$1,000,000, with a monthly fee of R$1.21.
To date, there are no detailed reports on the requirements for credit approval. Generally, banks require customers to provide proof of a minimum income as a form of payment.
