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Did you get an Auxílio Brasil loan? This information is for you. If you applied for an Auxílio Brasil loan, there are some important updates we need to share. Read this article to understand whether there have been changes to the payment installments or interest rates.
First of all, it is crucial to point out that Auxílio Brasil was the program that gave way to Bolsa Família. In October 2022, the Ministry of Social Development (MDS) launched the program, benefiting more than 20 million vulnerable families previously supported by the former Ministry of Citizenship.
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Auxílio Brasil Loan
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The Auxílio Brasil loan provided a practical and effective way for families facing financial difficulties to secure an additional source of income. Thus, as soon as the line of credit became available, millions of beneficiaries joined the initiative.
At launch, the Ministry of Citizenship authorized 12 entities, including banks and financial institutions, to offer loans to families. However, among these entities, only Caixa Econômica Federal and three others provided payroll-deducted loans, with the state-owned bank leading loan disbursements.
Caixa stood out as the only Brazilian banking institution that operated with Auxílio Brasil payroll-deducted loans. After all, other institutions feared the defaults that could arise if beneficiaries stopped receiving the benefit.
In addition, the negative repercussions caused by the massive promotion of the loan, which faced widespread criticism from the Brazilian population, were an additional concern. After all, part of the amount families would receive each month would be allocated to loan repayment.
Important alert about the Auxílio Brasil loan
Through the Caixa Tem app, Caixa made a loan application option available. Therefore, despite all the setbacks faced by beneficiaries with the app during the loan offering, they did not need to leave home to apply for the service.
This made it easier to apply for the Auxílio Brasil loan, increasing families’ confidence in applying for credit. Part of the monthly amount would be directed toward loan repayment, and thus millions of beneficiaries signed up, allowing up to 40% of the amount received to be allocated to loan repayment.
In this way, families receiving the benefit through the Caixa Tem app already had automatic deductions from their monthly payments. However, during this period, a piece of news gained prominence on the internet.
The news claimed that if the Caixa Tem account were closed, beneficiaries would once again receive the full amount, without an automatic deduction.
Misinformation regarding the Caixa Tem app
It is essential to clarify that this was a misunderstanding. This is because the Auxílio Brasil loan deductions will continue until the full debt is paid off, regardless of how the beneficiary receives the benefit amount.
The loan deduction is made by the Ministry of Social Development before the monthly benefit amount is sent.
Therefore, whether or not you use the Caixa Tem app, the loan installments will not be interrupted.
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Therefore, do not close the account for this reason alone.
New Bolsa Família
Read also: Bolsa Família Withdrawal Without Documents Shocks Brazilians
It is important to reiterate to beneficiaries that Bolsa Família program legislation requires Caixa to make benefit payments through a digital account in the app. If the beneficiary does not have an account, the bank will open one automatically.
Thus, if the account was closed, another one will be created automatically the following month so that the transfers can continue to be made.
Attention to the Bolsa Família program payment
If you applied for an Auxílio Brasil loan, keep the Caixa Tem app installed. After all, a new account will be created automatically. The only thing that can stop the installment deductions is full repayment of the debt.
Now, be sure to follow the benefit payment schedule, which is now once again called the Bolsa Família program. It is worth remembering that the payment is made into the account according to the beneficiary's final NIS number.
The August payment schedule is already available and is as follows:
August 18 for final NIS 1;
August 21 for final NIS 2;
August 22 for final NIS 3;
August 23 for final NIS 4;
August 24 for final NIS 5;
August 25 for final NIS 6;
August 28 for final NIS 7;
August 29 for final NIS 8;
August 30 for final NIS 9;
And finally, August 31, for final NIS 0.
