In times of emergency and natural disasters, workers in affected areas face the difficult task of rebuilding their lives.
Aware of this situation, the FONACOT Institute has launched the Support Credit for Victimsan initiative that seeks to provide these workers with quick access to financial resources that allow them to recover their durable consumer goods and face other essential services in these adverse times.
The Support Credit for Victims offers a line of credit specially designed for the acquisition of assets that contribute to the recovery of assets.
Among the products that can be purchased with this credit are lappliances, appliances, construction material and furniturefundamental elements to restore daily life and provide a safe and comfortable environment in affected homes.
Benefits that make a difference
This credit program offers a series of benefits that make it highly attractive to workers affected by natural disasters. First, apply preferential interest rates in terms of 12, 18 and 24 monthswhich facilitates access to credit and reduces the financial burden in the long run.
Besides, no commission is charged for opening and a grace period of 120 days for the first discountallowing workers to organize their finances and recover before starting payments.
To guarantee the safety and comfort of the beneficiaries, the Support Credit for Victims is granted through deposit in the worker’s own account.
In this way, intermediaries are avoided and access to resources is expedited. Also, the credit payment is made via payrollwhich allows a simple and automated administration of payments, without the worker having to worry about remembering dates or carrying out additional procedures.
Comprehensive protection for beneficiaries
The FONACOT Institute recognizes the importance of providing protection to workers in moments of vulnerability. That is why the Support Credit for Victims includes a credit insurance that covers situations of job loss, death, disability or total and permanent disability.
This coverage provides peace of mind to beneficiaries and their families, ensuring that they will be supported in case of eventualities.
The duration of the program varies according to the type of disaster declaration. In the case of the Emergency declarationthe program is activated from the issuance of the Declaration by the Ministry of the Interior and remains in force until the notice of termination of said declaration is given, which is published in the Official Gazette of the Federation.
In the case of the Declaration for Natural Disastersthe program begins with the issuance of the Declaration by the Official Gazette of the Federation and remains in effect for an additional period of 3 months plus 15 business days.
This extension gives the victims an adequate margin of time to access the Support Credit and use it to rebuild their lives.
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