Pension Council approves new cut in the interest ceiling on payroll loans for INSS | Economy

The National Social Security Council (CNPS) unanimously approved this Wednesday (24) the reduction of the maximum interest rate charged on loans granted to retirees and pensioners of the National Social Security Institute (INSS).

This was the seventh fall in the Lula governmentthat is, since the beginning of 2023.

The ceiling for conventional payroll loans, with payroll deduction, for this audience was reduced from 1.72% per month for 1.68% per month.

For operations using credit cards and benefit payroll cards, the maximum interest rate was adjusted from 2.55% per month for 2.49% per month.

When offering the line, banks and financial institutions must respect the limits established by the CNPS. The new ceiling comes into force five working days after the publication of the decision in the Official Gazette of the Union (DOU).

Interest ceiling for conventional payroll loan

(% per month)

Source: Ministry of Social Security

With the reduction announced today, the ceiling is below the index that caused banks to suspend their offer.

In August, there was a further reduction, and the interest ceiling went from 1.97% per month to 1.91% in the case of conventional payroll loans.

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