Mood ceiling for payroll loan interest bill
The Federal Government, after resolution, decided to reduce the maximum ceiling (loan interest) that allows payroll loans to retirees and pensioners of social security as well as thousands of public servants in all spheres.
Today (3) of May, begins the new rules that impose limit on the interest rates charged on consigned loans. Consigned is a loan modality that the discounts of the installments are made directly on the payroll monthly, both for the retirees and pensioners of the social security (National Institute of Social Security) as for a good part of the public servants.
Who gave the verdict last Friday was the National Pension Council, with the approval, the reduction of the interest rate ceiling on this type of operation begins to apply from today and will be valid until there is change.
Legend has it that the ceiling on payroll loans would be 32% and now it has fallen to an incredible 28.9% a year, in modern mathematics this should represent a fall of about 3.1%. Under the new rule, the interest rate charged on the payroll loan falls from 2.34% to 2.14%. However anyone who is accustomed to taking loans or working in the segment knows that these percentages are already applied to years in the consigned operations.
The reduction did not only reach the direct payroll in the sheet, it will also be valid in the operations with consigned credit card, in this case, the applied interest rate that was of 3.36% will change to 3.06% per month. In annual percentages, the reduction will be of 5.1 percent, going from 48.7% to 43.6%.
Returning to the past, the Ministry of Planning, Development and Management, published the ordinance in the “Official Gazette” of the Union, the ordinance breaks a link that since its creation in 2008 had been stirred. Now the ceiling for the interest rate on consigned loan operations for social security servants and beneficiaries has gained a little bit of breath and dozens of Reals less on consignment loan balances.
How does payroll work?
The payroll loan is one of the ways of obtaining lower-cost personal credit for the financial market applicant in Brazil. Just to have an idea, only in February of this year (2017), the amount of consigned loans reached the mark of R $ 291.4 billion, of this total, approximately 94% (R $ 169 billion), were requested by servers and the remainder (R $ 104 billion), by retirees and pensioners of the social security.
By reducing the ceiling on payroll loan interest rates, it will allow both public servants and retirees and pensioners to eliminate more expensive debts, in this case, borrowers with debts of up to 15.88% per month conventional credit cards on the payroll, can replace lower payroll loan rates, the cost will become lower.
According to the Federal Government itself, in considering that only so far, the loans granted on paper are at the same level as in 2016, the estimate that the payment of interest made in new credit operations with the servants, retirees and pensioners may have a cost cut by about R $ 3.7 billion. In addition to these changes, month was created another mode of credit, know here how the loan with FGTS consigned.