Since 2020, the Employee Severance Indemnity Fund (FGTS) has a birthday withdrawal modality, an option created by the government so that the worker can withdraw a part of the total balance of his FGTS. However, this can only be done once a year, that is, in the month of your birthday.
There is the possibility of anticipating this withdrawal, if the need for money is great. But anticipation is a loan, and interest is charged. Also, there are some limits and conditions for this. THE UOL talked to two experts to better understand about the birthday withdrawal and whether it’s worth taking an early loan to get the money faster. Read on.
Normal birthday withdrawal, without anticipation
The birthday withdrawal allows the worker, in the month of his/her birthday, to withdraw a part of his/her FGTS balance. In case of dismissal, only the amount referring to the termination fine can be withdrawn, not being able to withdraw the full amount of the account. This is the normal birthday loot, not a loan. Read here how the normal birthday withdrawal works.
Anticipation of the birthday loot is a loan
Early withdrawal is a way to get money faster, but it has the disadvantages of a loan.
Because of this, the anticipation of the birthday loot has an interest charge. Regina Nakamura Murta, a partner in the labor department at Bueno Mesquita e Advogados, only sees an advantage if the worker really needs the money.
Joelson Sampaio, economist at the São Paulo School of Economics, at the Getúlio Vargas Foundation (FGV/EESP) also does not see many advantages in bringing the modality forward because of the high interest rates charged by banks.
Interest charged in advance
The anticipation of the birthday withdrawal has an interest charge of 1.49% per month when carried out at Caixa. Other banks also offer the line of credit and each one charges its own interest rate.
Meanwhile, non-consigned personal credit has a minimum rate of 1.06% at Banco Andbank.
Public payroll-deductible personal credit has the lowest interest rate, 0%, in Simpala; and private payroll-deductible personal loans, 1.37% at Banco Sicoob.
requirements for anticipation
If the worker considers that he really needs to take out this loan, there are some requirements.
To anticipate the birthday withdrawal, you must meet these requirements:
Be over 18 years of age or emancipated; Have a checking or savings account at Caixa (except Digital Social Savings and CaixaFácil Savings); Be opting for the FGTS birthday withdrawal and authorize Caixa to consult your FGTS information; Have sufficient FGTS balance to pay anticipation, within the minimum amounts for contracting; Having the CPF in good standing with the Federal Revenue; Not having debts with Caixa or using credit resources to settle the debt.
In addition, the minimum total amount of the loan must be R$500 and the value of each withdrawal must be equal to or greater than R$200.
If you are a Caixa account holder, you can make a simulation through internet banking or through the Mobile Banking Caixa application. If not, you can simulate through the FGTS application.