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horrifying!  The consignee at Auxílio Brasil has an annual interest of nearly 100%

horrifying! The consignee at Auxílio Brasil has an annual interest of nearly 100%

The Senate recently approved the bill allowing the hiring of loan Sent through the Auxílio Brasil program. Limit up to 40% of the benefit. Although there is this additional possibility, you should be careful, since interest rates are high and a large part of the income can be as well compromise.

Read more: The updated Auxílio Brasil app: is it really possible to withdraw the interest of 600 Brazilian reais?

The same applies to Brazilians who receive the Continuing Cash Grant (BPC). In this way, the beneficiaries who use the payroll loan can commit up to 40% of the benefit to the installments, as the amount is always deducted before repayment.

brazilian aid shipment

The possibility of obtaining a payroll loan through Auxílio Brasil encourages many Brazilians. Despite this, the advice of economists is for the parties involved to be very careful and plan The bills will also be prior to hiring.

For example: Those who receive R$400 from Auxílio Brasil can start receiving only R$240, the rest of the amount—on average R$160—will be used to pay off the installment of the payroll loan.

The concern is due to the fact that the income can be compromised for a long time. Additionally, when considering the importance of income transfer to families receiving benefits, the fear is even greater.

After all, the understanding is that these Brazilians have little or no ability to afford the expenses that hurt most of the budget. However, the accounts Necessary Like food, water, and electricity, they may end up getting bigger.

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The average payroll interest for Auxílio Brasil beneficiaries is 5.85% per month. That’s nearly 100% annually. With the approval of the project in SenateThose who are receiving payments from the government have already started getting many offers to rent a payroll loan.