Who is retired or receives pension through the Institute of Social Security – National Institute of Social Security – one day already came across a loan offer for those who are beneficiaries of the Institute of Social Security. But not everyone who receives benefits from Institute of Social Security knows exactly the general rules for acquiring a loan in this modality.
In the case of retirement, the benefit is granted to persons who have reached the required length of service for retirement or have reached the required amount of contribution to retirement. In the case of the pension, the amount received monthly refers to the death of a relative who had social security through the Institute of Social Security. In both cases, there are several lines of credit that are offered by a huge group of banks and financiers.
Although the monthly amount received by Institute of Social Security retirees and pensioners is fixed and invariable, the benefit can not always keep the costs of an elderly person or a family that has lost a working parent. Therefore, credit lines can be useful and necessary in cases of financial emergency.
How the loan works for retirees and pensioners of the Institute of Social Security
All the financial institutions that offer this type of credit to Institute of Social Security beneficiaries usually assign the loan in the prescribed form. Since 2003, through federal law 10,820 / 2003, all loans made to retirees and pensioners of the Institute of Social Security must be made in the form of a consignment.
This requirement of the law has come into effect the national loan program, which serves as the basis for providing credit guidelines to Institute of Social Security beneficiaries. Since loans are made only by payroll, Institute of Social Security beneficiaries do not need to undergo a credit assessment to acquire a loan. That is, if there is credit restriction and name in the list of defaults of SPC and Serasa, this will not interfere in the granting of credit.
Payroll loans are those that automatically deduct every month directly from the payroll, in the case of a worker, or the benefit received by the Institute of Social Security. In the case of Institute of Social Security beneficiaries, the loan can be paid in a maximum period of 60 months, and all installments will have the same value. In addition to the process not having any type of paperwork, the requested money is released to the beneficiary’s hand as soon as the Institute of Social Security approves the release.
Advantages for Institute of Social Security retirees and pensioners
The big advantage in these payroll loans is that there is no credit analysis, which is crucial for anyone who needs money but is negative. No bureaucracy, credit assessment, loan guarantee or even guarantor, the money is released almost automatically according to the need of the beneficiary.
Documents required for hiring
To contract this type of payroll loan, the Institute of Social Security beneficiary must present the following original documents at the time of hiring:
- Proof of income (document detailing the Institute of Social Security credit release);
- Number of Institute of Social Security benefit;
- Proof of address.