CLT consignee: understand the use of FGTS as loan collateral

Interest falls little on the CLT loan in 9 months
The Management Committee for Payroll Credit Operations regulated, this Friday (26), the use of part of the FGTS as a guarantee in the CLT loan, the Worker's Credit, a type of loan with direct salary deduction for workers with a formal contract.
The rule allows the worker to offer as a guarantee up to 10% of the FGTS balance, up to 100% of the fine severance payment in case of unfair dismissal and up to 35% of severance pay, such as salary balance, proportional vacation, proportional 13th salary.
The interest rate for these operations will be limited to 1.99% per month.
Entities suggest caution and warn of the risk of workers using dismissal funds to pay CLT consignment
See questions and answers about the CLT consignment
What is CLT consignment?
It is a type of loan for workers with a formal contract, with installments discounted directly from the monthly salary.
The discount must respect the consignment margin provided for by law, which limits the commitment of the worker's net income.
As it was before and how stayed?
Before, the CLT consignment already existed, but if the worker was fired, the payroll deduction was interrupted, because there was no longer a salary linked to the contract.
The loan continued to exist and could be discounted again if the person got a new formal job.
Now, with the new rule, the worker can authorize the use of part of the FGTS, the termination fine and other termination amounts as collateral. In case of dismissal without just cause, these resources can be used to pay off or reduce the debt, within the established limits.
Now, how much of the FGTS can be used as a guarantee?
Under the new rules, the worker will be able to use:
up to 10% of the FGTS balance;
up to 100% of the termination fine in case of dismissal without just cause;
up to 35% of severance pay, such as wages proportional payments, vacations, 13th salary and other expected values.
These values act as a guarantee for the operation.
Does the money come from the FGTS at the time of hiring?
No. According to the government, the measure does not represent an automatic withdrawal of the FGTS nor does it create new immediate discounts for the worker.
The funds remain deposited in the linked account and can only be used in situations provided for by law, such as in the case of unfair dismissal.
To request credit, is the use of the FGTS as a guarantee mandatory?
No. The use of guarantees is optional.
The worker decides whether or not to use part of the FGTS, the termination fine or the severance pay as a guarantee. It is also up to the worker to define how much they wish to commit, within the permitted limits.
What happens if the worker is fired?
In the case of unfair dismissal, the bank may use the guarantees offered to pay off or reduce the debt.
This means that part of the FGTS, the termination fine or the severance pay that the worker would receive may be used to pay the loan, according to the rules of the contract and the authorized limits.
What is the rate of interest?
The interest rate for operations using FGTS as collateral will be limited to 1.99% per month.
This percentage is the ceiling for the modality. On a loan of R$1,000, for example, this is equivalent to up to R$19.90 in interest in one month. The final value of the debt, however, depends on the term, the number of installments and the total effective cost charged by the bank.
Will every worker have the same rate?
Not necessarily.
The effective rate will depend on the bank's assessment, which may consider factors such as the value of the guarantee, working time, credit history and customer profile.
How do the proposals work?
Through the Digital Work Card, the worker authorizes access to the information necessary to receive proposals from qualified financial institutions.
In the bank applications, the functionality will be released as the institutions join the system and are enabled.
After receiving the offers, the worker can compare the conditions, such as interest rate, installment amount and payment term.
Is there a difference between hiring through the Digital Work Card and the bank application?
Yes. When the operation is contracted through the Digital Work Card, the bank must present a credit proposal in which the value corresponds to 100% of the guarantee offered.
When contracting is carried out through bank applications, institutions must present a proposal in which the value corresponds to 50% of the guarantee.
Conecta+ will assist companies in credit card operations such as analyzing transactions, identifying unforeseen charges and recovering amounts - Credit: Disclosure.
Conecta+ will assist companies in credit card operations such as analyzing transactions, identifying unforeseen charges and recovering amounts - Credit: Disclosure.

Source: G1