It is not possible to withdraw the Severance Indemnity Fund (FGTS) to buy a vehicle. Therefore, advertisements with phrases such as “Use your FGTS to buy a car” generate so many doubts.
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However, there is a type of loan that uses the FGTS from active and inactive accounts as collateral. This loan is intended for workers covered by the CLT, who opt for the FGTS birthday withdrawal.
The loan linked to the FGTS is an anticipation of annual withdrawals. Each financial institution has a way of negotiating the amount of early installments.
Caixa Econômica Federal, the institution that operates the FGTS, allows the anticipation of credits of up to three annual installments of the birthday withdrawal. The bank enters into a contract for each anticipated period, with an interest rate of 1.49% per month, plus IOF (Tax on Financial Operations) and other charges.
The amount to be withdrawn by those who choose the modality can vary between 50% of the balance without an additional installment, for accounts up to R$500, and a maximum of 5% of the balance, plus an additional R$2,900, for accounts with a larger balance. than R$ 20 thousand.
The worker who opts for the birthday-loot modality ceases to receive the FGTS in case of dismissal without just cause. Even so, he still has the right to pay a fine of 40% on the available balance. It is worth noting that this type of guarantee fund credit is not only valid for the purchase of cars or motorcycles.
How does the birthday withdrawal work?
The birthday withdrawal allows the withdrawal of part of the balance from the FGTS account, every year, in the month of the worker’s birthday. The option can be made through the FGTS APP, in this website, at Caixa’s Internet Banking or at branches. Migration to the anniversary withdrawal system is not mandatory and those who do not make the option remain in the withdrawal system.
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