Monthly, financial companies pay a certain amount that serves to keep the Credit Guarantee Fund in operation, being triggered only when one of these institutions participating in the fund suffers one of the measures mentioned above (liquidation, intervention or bankruptcy). However, the Loan and Credit does not guarantee restitution for all types of loss.
The Loan and Credit has a guarantee limit of up to R $ 250 thousand per customer, regardless of whether it is a joint or individual account. In addition, the total amount invested by each person against the group of all companies that are part of the association is guaranteed up to R $ 1 million, with a period of four years.
Credit Guarantee Fund for Bank Accounts
It is important to note that the credit guarantee fund is not only valid for investments, but also for money kept in current account and savings account, considering the ceiling of R $ 250 thousand per CPF / CNPJ, and per institution. That is, if you have up to $ 250,000 in a bank account that you close, you are guaranteed to receive the amount in the bank. What happens is that a lot of people don’t know about this fund or how it works.
Remember that if the account is joint, still the reimbursement is $ 250 thousand, ie, the reimbursement is on account in this case, and not by CPF or CNPJ. This is also a rule that most people are unaware of because, despite this coverage, no one expects a bank to close, because this is a very rare situation. And because of this, people do not seek to know very well how payment of guarantees in this case.
How does Loan and Credit work?
- Imagine that the Loan and Credit acts as a kind of insurer for financial institutions, not being unique and exclusive to major banks in the country. When one of these institutions goes bankrupt or goes out of court, for example, it can turn to the Fund to get all the money its clients had into accounts, savings and investment.
- Many applications have Loan and Credit insurance as deposits; bills of exchange; real estate bills; bank deposit certificate, agribusiness letters of credit; among others. However, it is worth remembering that regardless of the product, the amount assured will be the same of $ 250 thousand.
Through the security that the Credit Guarantee Fund proposes, investing in investments in the country has become safer, nullifying almost all investors’ chances of loss. In addition, through the Fund, it is possible for investors to be more secure when investing in new financial institutions that have less market time.
The Loan and Credit is maintained as an NGO, as it is not a public agency, neither a government fund that is linked to the government, nor a financial institution. In fact, the fund is defined as a non-profit and private association maintained by the banks backed by the guarantee offered by it and, for this purpose, make monthly contributions on a percentage of the guaranteed deposits.
This is even cited in the Resolution of the National Monetary Council that determines its statute and regulation, which in sole paragraph of Article 1: “The Loan and Credit does not perform any public function, including by delegation.” Another interesting feature about the fund is that when a bank closes, the timeframe for customers to begin receiving collateral varies from bank to bank, so this timeframe is unregulated, because possible legal backlogs may be delayed. these payments.