On 28 March, Caixa launched Crédito Caixa Tem, a credit programme of up to R$ 3,000 for individual micro-entrepreneurs (MEIs) and individuals (including beneficiaries of Brazil Aid).

To submit a credit application, interested parties must update their registration and version of the Caixa Tem application, as instructed by the bank. According to Caixa, the analysis can take up to ten days.

Read on and find out all the details of Caixa's new credit!

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New Caixa Tem credit: Understand how it works!

Individual entrepreneurs with a Caixa Tem account, including those with SPC and Serasa defaults, can now access credit lines.

Individual micro-entrepreneurs (MEIs) are another category that can apply for a loan through Caixa Tem credit, with contract values of up to R$ 3,000 and interest rates starting at 1.99% per month.

Simply access the app and choose the option "SIM digital" - Crédito Caixa Tem to see if you are entitled to apply for a loan via the app. By selecting the option, the app will open a new window in which the user can apply for a loan, view contracts, view insurance and ask questions about microcredit.

Credit for individuals:

• Credit ranging from R$ 300 to R$ 1,000 (amount released based on credit analysis);
• Monthly interest rates from 1.95%;
• Credit instalments lasting up to 24 months;
• Taking out a loan via the Caixa Tem app.

Note: Negatives also included!

Loan for MEI:

• The credit ranges from R$ 1,500 to R$ 3,000, depending on your ability to pay;
• Monthly interest rates range from 1.99% to 3.60%;
• Payment terms are between 18 and 24 months;
• The loan must be obtained in person at Caixa branches.

Payroll loans and Auxílio Brasil: See what's new at Caixa

Brazil benefit recipients will now be able to take out loans with the benefit as collateral. However, the Ministry of Citizenship has yet to clarify the rules for this option.

"For Brazil Aid beneficiaries, there is no credit analysis and all banks can operate. The discount limit is 40% of the benefit. But it still depends on the regulations of the Ministry of Citizenship, which means setting limits on terms, interest rates and the authorisation of financial institutions," said the president of Caixa, Pedro Guimarães.

A new line of credit is now available for beneficiaries of Auxlio Brasil, Continuous Cash Benefit, Individual Microentrepreneurs (MEI) and people with a bad reputation with SPC and Serasa.

The project was implemented in collaboration with the federal government as part of the Income and Opportunities Programme, which combines measures to encourage credit with a focus on minimising the economic impact of the epidemic. In addition to microcredit, the programme is anticipating the 13th salary of INSS retirees, with an increase in the consignable margin for insured people and a new round of exceptional withdrawals from the INSS. FGTS.

Registration update didn't work at Caixa Tem. What should I do now?

If Caixa Tem displays the notice "Incomplete data" when trying to update the register, the user must click on "OK, got it", and try again to access the tab "Update your registration". If it is not possible to update the application, the customer must go to a Caixa branch to regularise their registration.

The notification, according to the bank, is presented to customers who have some inaccurate mandatory registration data and should seek face-to-face help to update the information.

If, after changing your registration, the following message appears in the Crédito Caixa Tem discussion "You don't currently have any credit available"This means that the client's loan application was denied because it did not meet the credit risk assessment requirements.

Another issue that customers have faced is the warning of limited registration in Caixa Tem. Caixa advises customers in this scenario to find out if there are any registration limitations on their CPF or if there are any other debts that could jeopardise their ability to pay.

CAIXA Tem credit card: Get to know Caixa's new option!

I've updated my registration, what's the next step?

After entering the requested information in the register, the customer will have to wait around 10 days to find out the result of Caixa's credit investigation. The funds will be available in the holder's Poupança Digital + account as soon as they are approved.

Caixa informs that within 10 days of updating the registration, the customer will be able to simulate a loan on Caixa Tem and sign the contract if the credit analysis carried out automatically by the application has been accepted.