Which bank offers loans for LOAS?

Research on which bank makes loans for LOAS is one of the main ones when it comes to credit.

This is because, only in recent years has there been talk of credit lines for BPC beneficiaries, as previously, only INSS retirees and pensioners were provided for.

But, after all, what is the loan for BPCWhat's the difference between LOAS and BPC? How do I apply for this type of credit? And what about the interest rate?

We'll cover all of these questions in today's content, along with topics that explain each question in detail.

So, to stay up to date on the subject and have the chance to apply for a line of credit that suits your profile, continue reading!

What is LOAS?

Whenever retirement is discussed, it is common for many to mention that there are 3 main types: by age + contribution time, by disability and LOAS.

Speaking specifically about LOAS, many believe it is a retirement for elderly people who have not contributed to the INSS throughout their lives, but is this view correct?

In fact, the type of retirement in question is the BPC, which in theory is not a retirement, but rather a social benefit.

The BPC is guaranteed through the Organic Law of Social Assistance (LOAS), which provides financial assistance to people in a situation of financial vulnerability, who have permanent health conditions that prevent them from working.

This definition can include the elderly, people with disabilities and even those who have a serious chronic illness.

Through LOAS, these people can request to receive BPC, which corresponds to the monthly payment of 1 national minimum wage in force.

It is worth mentioning that, in addition to proving the condition of long-term impediment, it is also necessary to comply with the income criteria.

This is because, in order to receive the BPC, it is important that the family per capita income corresponds to ¼ of a minimum wage, this means that the income must be up to R$ 330.00 per member of the family group.

Is there a loan for LOAS? What is a BPC loan?

There has always been a type of credit for INSS beneficiaries, and in this case we are talking about the traditional payroll loan.

But, what about the BPC? I wonder if it has a loan option, since, although it is not necessarily a retirement benefit, it is also a permanent benefit?

This is a more delicate issue, since the release of a credit modality for BPC undergoes constant changes.

This is because it was released for a while, but ended up being stopped after a few months, and in September 2023 there was news of a new release.

This entire process of constant changes meant that the modality did not gain as much space in the market, as is the case with payroll loans and personal loans, for example.

Therefore, nowadays it is not so easy to find which bank offers loans for LOAS.

But that doesn't mean it doesn't exist, as we do have some banks that offer this option.

The BPC loan works as a type of payroll loan, in which the payment installment is discounted directly from the benefit.

This means that the beneficiary already receives their BPC with the installment discounted, which offers the bank greater payment guarantees.

For this reason, the BPC loan has lower interest rates than we usually see in other modalities, as it is possible to find proposals of 1,20% per month.

We'll look at the rules for this type of loan in detail later, so don't miss out!

BPC Loan Advantages: Who Can Apply? Installment Amounts and More

Throughout the previous topic, we were able to understand that the BPC loan exists, the modality is currently in force, and is offered by some banks.

But, before we answer which bank offers LOAS loans, it's important to clarify the main rules and differences of the BPC loan.

We've already seen that this works like a payroll loan, since the installments are deducted directly from the benefit, so the borrower doesn't need to worry about bills.

And, speaking of which, it is important to know that the BPC loan cannot compromise more than 30% of the benefit, which would correspond to R$ 396.00.

It is worth mentioning that the installment conditions for this modality also differ, as it is possible to pay in up to 84 installments, which results in 7 years to divide the loan amount.

Another advantage of the BPC loan is that you don't need to be debt-free to apply for it, so it's a good option for those with bad credit.

Now speaking of interest rates, the maximum rate allowed is 1.91% per month, which certainly guarantees better conditions for the applicant.

However, it is worth noting that the BPC loan requires a credit analysis, so simply being a beneficiary does not guarantee access to credit, as bank approval is required.

Which bank offers LOAS loans? What are the fees?

Throughout this material we were able to better understand the BPC loan, so you already know how it works.

Furthermore, we also saw that this is a modality that undergoes constant changes, which interfere with the proposal offered to customers.

Therefore, we currently do not have many banks that offer this modality in their service groups.

Most banks choose to offer INSS loans, which open the way for beneficiaries to apply for them. BPC.

But, speaking of the specific modality, which bank offers loans for LOAS?

Currently, only Banco PAN offers this proposal, which is the “BPC/LOAS Consigned Loan”.

Banco PAN's proposal consists of a loan in the amount of R$ 15,702.70, to be paid in up to 84 fixed installments of R$ 385.00.

The simulation and hiring process is 100% online, which makes it easier for applicants.

As for interest rates, it's important to check the proposal to access them, and you can see this right after the bank's credit analysis is complete.

But, in any case, currently the PAN Bank is the only one offering this proposal, and the conditions are interesting, so it's worth checking it out!