Is there a minimum amount for the Auxílio Brasil consignment? Check out what the law says, and what each bank can release credit
Estimated reading time: two minutes
President Jair Bolsonaro sanctioned the Provisional Measure that allows payroll loans to users of Auxílio Brasil. Now, the government awaits the regulation of the proposal by the Ministry of Citizenship. But, in practice, what is the minimum amount for the Auxílio Brasil payroll loan? Check out the conditions and see how the hiring will be!
Auxílio Brasil: is there a minimum amount for the benefit consigned loan?
In the case of common payroll loans, each bank or financial institution establishes the minimum amount that can be contracted. On average, this amount does not exceed R$ 500. However, in the case of Auxílio Brasil, there is a maximum amount that can be released, by law. This is the so-called payroll loan ceiling.
For beneficiaries of Auxílio Brasil, this ceiling is a maximum of 40% of the monthly benefit amount. According to the federal government, the value of the benefit considered will be R$ 400, and not R$ 600, since the increase is temporary. Thus, the maximum amount of the Auxílio Brasil payroll loan will be a maximum of R$ 160.
Finally, regarding the interest rate, the law does not set a limit on the rate charged by each bank. Thus, institutions can define how much they want to charge. Payment is made directly with discounts from the benefit installments. Therefore, before hiring, it is necessary to think carefully whether it is worth committing this value.
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