Great opportunity. A new microcredit for individuals and entrepreneurs (MEIs), according to information from the Cashier, can reach values of up to R$3 thousand. At first, the idea is to reach a large audience with this program.
From now on, according to the bank’s president, Pedro Guimarães, the offer of credit should reach no less than 40 million citizens. However, this was a long-term estimate. In the coming months, the idea is that 5 to 10 million people will seek the values of the Digital SIM.
Beforehand, in terms of financial volume, Caixa Econômica’s official estimate is to receive an amount of up to R$ 10 billion in the total operation in six months.
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How does microcredit work?
A major differential of this new CAIXA microcredit is the interest rate. First, for individuals, the rate reaches 1.95%. On the other hand, for small entrepreneurs, the rate is 1.99%.
However, in both cases the debt can be paid in installments up to 24 installments, that is, two years.
Furthermore, it is important to emphasize that the application procedure is also different for the individual and for the individual micro-entrepreneur. In the first case, it is possible to request microcredit through the application box hasin the second, the request must be in person at one of Caixa’s branches.
“Most of these people, precisely because they are negative, are outside the traditional financial system, borrow money from loan sharks and normally pay interest between 15% and 20% per month. We want to break this exorbitant interest cycle, going from that to something from 1.95%. This will generate a very large income effect,” said Pedro Guimarães.
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Furthermore, when asked about the negatives adhering to microcredit, Guimarães said: “this rate of 1.95% per month on personal credit you will hardly have. This is even lower than some type of payroll. Microcredit without the guarantee fund is around 3.9% per month”.
Caixa offers microcredit with amounts of up to R$3 thousand
First of all, it is important to point out that the values that can be withdrawn will be different.
While the MEI will be able to redeem microcredit in the amount of up to BRL 3 thousandthe individual may withdraw the amount of up to BRL 1 thousand.
The new loan is related to the SIM Digital program and is expected to have two proposals, as informed.
For physical person, the loan will be fixed in the amount of R$ 1 thousand, with a monthly interest rate of 1.95% per month and 24 months to pay. To get the amount, you won’t need a lot of bureaucracy, since the hiring can be done directly through the Caixa Tem app, just agreeing with the loan terms and waiting up to seven days for analysis.
About the MEI, the loan can be up to R$ 3 thousand, with a monthly interest rate from 1.99% per month and 24 months to pay. In this case, the interested party must go to an agency of the Cashier and it will be necessary to have at least 12 months of billing of any amount with the respective CNPJ.
Therefore, the idea is that people with the name “dirty” in the market and who have difficulties in contracting lines of credit can have access to the loan through the program. In addition, it seeks to formalize informal workers.