The payday loan can be used with the FGTS guarantee in 2019

The payday loan can be used with the FGTS guarantee in 2019. The Federal Savings Bank (Caixa Econômica Federal (CEF) started on September 26 to offer payday loan with use of the FGTS as collateral The information comes from the Ministry of Labor

According to the government, the interest can not exceed 3.5% per month and the payment period is 48 months.This line, which should reduce the credit for employees of Private companies, was announced in April of last year but was not offered by the banks.The amounts lent will depend on the amount that the workers deposited on the FGTS related account.

Caixa indicated that she was still working on the composition of the product that will be offered to consumers and did not disclose the amount of her interest rate and the terms and conditions According to the Ministry of Labor, this The financing line will be available to 36.9 million formal contract workers who will be able to obtain a loan.

may apply for a loan with lower interest rates at Caixa branches. The portfolio also trades the same measure with Banco do Brasil

. Caixa will provide access to the system with information from the Workers' Guarantee Fund for private banks.

With the changes announced last month, private companies wanting their workers to have access to this line of loans should accept

Interest will be reduced by the 10% guarantee of the FGTS value of the loan. borrower, plus the amount of 40% of a possible fine for dismissal.

With these changes, the government expects the payday loan interest rate proposed to the private sector to be close to the average rate currently charged in the public service market (1.75 % per month)