Bradesco Loan offers a 90-day grace period
The loan Bradesco emerged as an alternative to help consumers during the new coronavirus pandemic.
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Thus, the bank announced the suspension of installments on credit contracts for up to 120 days, in addition to the possibility of renegotiating debts, within a period of up to 72 months.
In fact, the service can be requested by both individuals and legal entities, i.e., business owners.
Furthermore, another new development is that new loan operations will have a 90-day grace period, meaning a period of up to 3 months for the consumer to start paying.
So, see below which lines of credit this Bradesco loan involves!
R$ 100 billion in pre-approved credit
The first line of financing includes the business sector, which is suffering from a lack of its own resources.
Therefore, for this purpose, the bank set aside R$2.4 billion to be used in loans for companies seeking working capital to keep their employees' payroll up to date.
According to Bradesco's lending director, Leandro Diniz, "We (Bradesco) have been monitoring the day-to-day operations and monitoring market needs. The industry is being proactive in understanding this unique moment."
With this, the institution announced that it will make R$100 billion in pre-approved credit available to individuals who need the credit line.
Applications are open to business owners with revenues of less than R$ 360 thousand and greater than R$ 10 million.
Therefore, for this new line of credit, in addition to the 120 days to start making the payment of the first installment, lower interest rates are also offered, starting at 0.65% per month.
Real estate refinancing
Another Bradesco loan that was announced by the bank is the possibility of refinancing installments related to real estate credit, which have already been paid by customers and individuals.
In this way, the aim is to benefit both those who are up to date with their payments and those who are in default.
If this happens, the interest will be recalculated and reduced. In this case, the bank will also benefit, as the property can be used as collateral.
However, for this to happen, regulatory authorities will need to change the law, which could delay this process.
