INSS updates the margin for payroll loans – 01/24/2024 – Market

INSS (National Social Security Institute) beneficiaries can now check the new loan margin granted by Meu INSS (website and app). The limit varies according to the insured’s social security income.

For those who receive a minimum wage, the maximum value of the benefit that can be committed to the payment of installments of the loan increases from R$462 to R$494.20 this year.

Credit granted to INSS retirees and pensioners has the lowest interest rates on the market, because the installments are deducted directly from salary or retirement, which gives the financial institution a guarantee that the money loaned will be returned.

Currently, the ceiling for conventional payroll loans is 1.76% per month. In credit card and benefit card operations, the maximum interest rate is 2.61% per month.

Under current rules, INSS retirees or pensioners can commit up to 45% of the benefit, as follows:

• 35% to take out a personal loan
• 5% for the assigned credit card
• 5% for the benefit consigned card

To avoid harassment from banks and financial institutions, the INSS blocks all new benefits for taking out loans for 90 days, starting from the date of granting.

After this period, the insured can request that the operation be released through Meu INSS or by calling number 135.

SEE HOW MUCH YOU CAN BORROW

1. Access My INSS
2. Enter your CPF and password; If necessary, enter email to receive a validation code
3. Under “Featured Services”, click on “Loan Statement”
4. If you receive more than one social security benefit, check one at a time
5. The screen will show the benefit information and the consignable margin
6. If you prefer to print, click “Download PDF”

HOW MANY LOANS CAN I GET?

• According to the INSS, the insured can take out up to nine personal loan contracts
• In the case of a credit card, only one contract is permitted.
• Interest rates are the lowest on the market, and the repayment period can reach 84 months

The interest rates offered by banks vary depending on the customer’s profile. The ideal is to shop around to get the best deal.

HOW TO CHECK INTEREST ON MY INSS

1. Access the My INSS app or website
2. On the home page, where there is a magnifying glass, write “Consigned Loan Rates”
3. A page will open with the list of banks and the interest rates charged in each of them.
4. To see more banks, just scroll down the page and click on “See more”
5. 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”

PROTECT YOUR BENEFIT

• Do not provide personal data over the phone. INSS does not ask for any personal data or benefit number
• If you choose to hire a payroll loan, look for the financial institution through its official service channels or go to an agency
• Avoid lending your name. If the person is unable to pay, it is the retiree who will have to bear the debt and have a dirty name.
• Monitor the benefit statement monthly to check that no contracts were made irregularly

• Do not click on any link you receive by email

• If you are in doubt about the veracity of the message, call INSS telephone number 135 or access Meu INSS