07/05/2024 – 10:17
The new interest ceiling on payroll loans for beneficiaries of the National Social Security Institute (INSS), of 1.68% per month, is now in effect. For operations carried out via credit card and benefit card, the rate was 2.49% per month.
This is the seventh reduction in the maximum rate since the beginning of the Lula government, and comes in the wake of the reduction in the Selic, the economy’s basic interest rate, currently at 10.75% per year.
The cut was approved at the last meeting of the National Social Security Council (CNPS), on April 24.
According to the Ministry of Social Security (MPS), this downward movement in payroll interest already reflects in the average rate charged by banks on loans to INSS beneficiaries, which fell to 22.4% per year in March (1.70% per year). month), the lowest level since November 2021, when the average interest was 21.3% per year.
How the consignment works
In this type of loan, installments are deducted directly from the benefit.
Under current rules, the INSS insured can commit up to 45% of the benefit to the loan. Of this total, 35% are for personal loans, 5% for credit cards and 5% for benefit cards.
The loan can be repaid in up to seven years and interest is limited, which means that the financial institution can charge less, but not more than the interest ceiling.
Search for the lowest rate
Within the INSS platform it is possible to carry out a search to find the lowest rate charged among banks. Check out how to do it:
- Access the app or website My INSS;
- On the home page, where there is a magnifying glass, write “Consigned Loan Rates”;
- A page will open with the list of banks and the interest rates charged in each of them;
- To see more banks, just scroll down the page and click on “See more”;
- It is also possible to search for the institution that the insured wants to search for at the top of the page, under “Search by institution”.
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