Is there a minimum amount for payroll loans?

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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About Yadunandan Singh

Born in 1992, Yadunandan approaches the world of video games thanks to two sacred monsters like Diablo and above all Sonic, strictly in the Sega Saturn version. Ranging between consoles and PCs, he is particularly fond of platform titles and RPGs, not disdaining all other genres and moving in the constant search for the perfect balance between narration and interactivity.

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