Caixa will use the Caixa Tem application, which was created to facilitate the distribution of files first aid, to give small loans to about 100 million individuals. They will be loans of R$200, and R$300, at very low interest. The 1.09% per month rate charged in the FGTS method of Christmas withdrawal can be used as a reference. This is the so-called “financial market revolution” announced by the President of the Bank, Pedro Guimarães, last week.
The unveiling should take place in the coming days, in the presence of President Jair Bolsonaro. But the loans will not begin to be released until after the last batch of emergency aid, which is due in October. The funding limit is estimated at R$3,000 per CPF, and the new line resources, initially stipulated at R$10 billion, with a margin rising to R$20 billion, financed by Caixa’s own profits.
With this move, the government hopes, at the same time, to attract support at a time of low popularity for Bolsonaro, burying the ring once and for all. Verapan (Brazilian Confederation of Banks)That moved the market throughout the week and opened a crisis from which no one was left unscathed. After starting the week by threatening to leave Verapan, Caixa and Banco do Brasil backed down on Friday, after the Union of Banks issued a statement announcing that it would not sign the Fiesp Manifesto, despite reaffirming support for appeasement between the three powers of the Republic.
The Caixa Tem application provided the State Bank with profiles of thousands of users, which served as the basis for the proposal for the creation of microcredit. They compulsorily become Caixa’s “agents”, in order to obtain emergency assistance. Last year, an app designed to help low-income residents access federal government resource transfers was the most downloaded in the country, with more than 300,000 downloads.
Now, the bank will have to campaign to explain to these new “customers” that the money it intends to release is no longer a donation to help overcome the hardships brought by the COVID-19 pandemic. It is the money that must be returned with interest.
Of course, the price is low and it is a bank credit that these users hardly get. But for many people, the app and the help they received at an ATM was their first “banking” experience. He sought, Caixa was not given an interview.
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