As of March 21, 2025, a new financial initiative called the Crédito do Trabalhador (Worker’s Credit) is now available to formally employed individuals in Brazil. Announced by the federal government, this program aims to offer affordable payroll loans to approximately 47 million workers across various sectors, including domestic and rural workers, as well as employees hired by micro-entrepreneurs. With the introduction of this program, the hope is to reduce debt levels and provide easier access to financial resources for those who previously faced barriers to securing loans.
Workers will be able to apply for these loans via the Digital Work Card (Carteira de Trabalho Digital) application. To initiate the process, individuals must provide permission for financial institutions to access specific employment data through eSocial, a centralized digital platform that consolidates work-related information. Once this data is authorized, applicants can expect to receive loan offers from participating banks within 24 hours, allowing them to select the most advantageous option available.
The new payroll loans are designed to be automatically deducted from the worker’s salary, with up to 35% of the gross salary available for loan repayment. This structure is intended to minimize default risk, as employers will facilitate timely payments directly from their payroll systems. Despite previous models for public sector employees and retirees, this new credit option offers previously restricted access for private sector employees without requiring them to have prior agreements with specific banks.
The issuance of this credit will not only enhance the borrowing power of numerous workers, but will also incorporate flexible terms. Beginning on April 25, 2025, individuals with existing payroll loans will have the opportunity to migrate their contracts to this newly established model. Portability between banks will commence on June 6, 2025, thus providing borrowers the chance to seek better terms and conditions as the market evolves.
While workers can utilize their FGTS (Fundo de Garantia por Tempo de Serviço) as a form of collateral, with the option to pledge up to 10% of their balance, it is crucial to understand the potential consequences of opting into this credit model. For instance, in the event of dismissal, workers can utilize 100% of the severance fine as a safeguard. Financial experts caution individuals to assess their budgets thoroughly and ensure that the new loan’s installments do not overextend their financial capabilities.
Fernando Haddad, the Minister of Finance, highlighted that one of the primary goals of this initiative is to mitigate the high-interest burdens associated with existing personal loans, which can average over 5% a month. The Crédito do Trabalhador aims to position itself as a viable alternative for indebted citizens seeking relief from mounting financial obligations.
Additionally, the rollout of the program aligns with the government’s vision to bolster economic recovery post-pandemic by empowering lower-income workers with greater access to credit and support systems. With this enablement, officials expect that financial empowerment will translate into broader economic benefits for society.
To navigate this new financial landscape, workers are encouraged to carefully consider the terms of any offered loans, including Custo Efetivo Total (CET — Effective Cost), which provides insight into the true cost of borrowing. Experts such as Leticia Camargo from the Associação Brasileira de Planejamento Financeiro emphasize the importance of evaluating repayment conditions and selecting loans that align with the individual’s financial situation.
In summary, the launch of the Crédito do Trabalhador program heralds a transformative step towards improving access to credit for formal workers in Brazil, particularly those within vulnerable sectors. While it offers unprecedented opportunities for obtaining affordable financing, workers must remain vigilant to ensure that these new obligations are manageable within their overall financial plans. As this initiative unfolds, many hope it can reshape the financial outlook for millions of Brazilians struggling with debt.
