FGTS advance: advance money that is already yours

O FGTS advance is a type of credit offered by Caixa Econômica Federal that allows workers to advance up to three installments of the FGTS birthday withdrawal. 

The birthday withdrawal is an FGTS withdrawal option that allows workers to withdraw part of their account balance in the month of their birthday, every year. 

When opting for an advance, you will be advancing money that is already yours, which can bring some advantages, such as, for example, lower interest rates. 

How to request the FGTS advance?

To request the FGTS advance, the worker must have opted for the birthday withdrawal and have a sufficient balance in their FGTS account to advance the installments. 

The minimum advance amount is R$2 thousand and the maximum is R$5 thousand per transaction. 

However, the worker can carry out up to five operations per year, as long as they respect the maximum annual limit of R$12 thousand.

This service can be contracted through the FGTS application, through Caixa Econômica Federal internet banking or at Caixa Econômica Federal branches. Caixa Econômica Federal. 

The worker must inform the amount and installments they wish to advance and choose the payment method. 

Payment can be made by debit from a Caixa Econômica Federal current or savings account or by bank slip. 

About interest rate

This financial product has an interest rate of 0.99% per month and a payment period of up to 12 months. 

The value of the installments is deducted directly from the worker's birthday withdrawal, in the corresponding month. 

If the worker does not receive the birthday withdrawal for any reason, he must pay the amount of the installments by another means, under penalty of fine and interest. 

Although it has a low interest rate compared to other types of credit, it should only be requested in cases of need.

Furthermore, the use of money must be done intelligently and it must be allocated for the purpose proposed in your financial planning. 

For example, you planned to advance this amount to take an important exam, when you withdraw the money, take the exam, don't be tempted to use the money for other purposes.

Conclusion

The FGTS advance is a credit alternative for workers who need quick and easy money, without bureaucracy and with low interest rates. 

However, care must be taken when contracting this service, as it implies a reduction in the value of the birthday withdrawal and, consequently, the balance of the FGTS. 

Furthermore, the worker must plan to pay the installments on time and avoid debt.