Will Nubank Launch Auxílio Brasil Payroll Loan?

a Brazil Aid The salary loan regulation was revealed at the end of last month. However, even before this publication, some financial institutions were already positioning themselves in regards to offering the new service.

a nubankIt, for example, never announced that it would file a payroll for the social program. Fintech still does not provide such follow-up services, which leads us to believe that it will not provide contracting for the Auxílio Brasil loan.

Banks that will not provide shipment Auxílio Brasil

In addition to Nubank, other banks have spoken out and stated that they will not provide the Auxílio Brasil shipment to recipients. See what they are:

In short, the reasons for enrolling in the service vary and differ for each financial institution.

Banks that will provide shipment Auxílio Brasil

However, the Citizenship Department announced that 12 banks can now operate the new credit line. Check out any of them:

• Federal Savings Bank;
• PAAN Bank
• Agibank;
• Krevesa Bank
• zero bank;
• Daycoval Bank
• Capital Direct Credit Association;
• Facta Financeira S/A Credit, Finance and Investment;
• Chick Loans
• QI Direct Credit Association;
• direct credit association value;
• Zema Credit, Finance and Investment.

It is worth noting that some of these banks even offer pre-registration to clients interested in contracting a payroll loan from Auxílio Brasil. With the rules in place, financial institutions can now grant the service.

Loaded loan from Auxílio Brasil

According to the decree published by Ministry of CitizenshipThe terms of the salary loan for the social program should be limited to the following rules:

• Interest: a maximum of 3.5% per month;
• Payment term: a maximum of 24 installments (ie 2 years);
• Depositable margin: 40%.

Regarding the interest rate on salaries, it has received a lot of criticism from specialists who compare it to the rate charged to retired and retired employees. INSS (National Institute for Social Security)which is 2.4% per month.

In addition, it is important to note that the contract percentage will apply to a traditional Auxílio Brasil 400 R$. That’s because the current payment of R$600 is provisional, and is expected to arrive in December this year.