Payroll-deducted loans for CLT (Consolidation of Labor Laws) workers already exceed R$ 30 billion.
The Worker's Credit Program has already benefited millions of professionals, and the government is betting on new rules to reduce interest rates.
247 - The Worker Credit program, launched in March by the federal government, has already disbursed approximately R$ 30,2 billion in loans to workers with formal employment contracts. According to... CNN BrazilMore than 6,2 million contracts have already been signed since the initiative began.
Last Thursday (21), the Worker Credit Operations Management Committee held its first meeting and approved the program's internal regulations. According to the Minister of Labor and Employment, Luiz Marinho, among the main points of discussion is the reduction of the average interest rate applied to operations. "I believe that, when the 4 million old payroll loan contracts come in, interest rates will be pulled down," said the minister.
According to the Ministry of Labor and Employment, the migration of old payroll loan contracts—totaling more than R$ 40 billion—is already underway and should be completed by November. These contracts will become part of the program, expanding the negotiation base and strengthening the possibility of a gradual reduction in interest rates. Currently, the average interest rate is 3,59% per month, and the average amount contracted per worker is R$ 7.179,18.
Another factor that should impact the reduction of interest rates is the inclusion of the FGTS (Brazilian Severance Indemnity Fund) as collateral. Starting in November, up to 10% of the balance of the FGTS can be used as backing for credit operations, increasing security for financial institutions and, consequently, favoring more accessible conditions.
Official data shows that the program has primarily reached lower-income workers. Currently, 60% of loans have been granted to people earning up to four minimum wages, while in the old agreement model, the majority of contracts (65%) were for professionals with incomes exceeding eight minimum wages.
All workers with formal employment contracts, including domestic and rural workers, as well as individual micro-entrepreneurs (MEIs), can participate in the program. Since it is a payroll loan, installments are debited directly from the paycheck, with a limit of up to 35% of the salary to avoid excessive income commitment.
