Lender Federal may offer a lower interest rate for payday-deductible loans using the balance of the FGTS as collateral, according to the president of the institution, Gilbert, who announced today (5). Brasilia, the anticipation of the payment of dormant Working Time Guarantee Fund (FGTS) bills for workers born in March, April and May.
Yesterday (4), Lender released the rules for the use of the Working Time Guarantee Fund (FGTS) as a guarantee for payday loans, with installments deducted directly from the workers’ payday.
The new type of credit will have 48 months of payment term and interest rate of up to 3.5% per month
According to Lender, the amounts borrowed by banks will depend on how much workers have deposited in the FGTS linked account.
Under the rules, they can guarantee up to 10% of the account balance and the entire 40% penalty for unjustified dismissal, amounts that can be withheld by the bank at the time the employee loses the relationship with the company. where he was when he made the payday loan.
The use of FGTS for payday-deductible loans is provided for by law approved in July of last year. The commencement of operations with FGTS depended on Lender regulations.
Guarantee and the default risk rating
According to Occhi, the rate charged for payday-deductible loans to Lender’s private sector workers is 3% per month, on average. “It’s already in the 3% range, lower than the ceiling [3.5%],” he said.
He added that the interest rate depends on the guarantee and the default risk rating of each customer. “With the commitment of the FGTS, Lender will work to reduce the interest rate,” he added.
Occhi also said the measure was announced yesterday and all financial agents have yet to adapt to the rules by setting interest rates.
Even with the use of the FGTS, Lender Government Fund Executive Director Valter argued that the loan is not fully guaranteed as the worker may resign and not withdraw funds or retire without blocking. resources to the bank’s benefit.
“It is an expectation of receipt in case of dismissal without just cause. It is not a 100% guarantee [of receipt by the bank], ”he said.