Refund advance: which banks offer it?

If you have left your income tax return until the deadline, advance refund can help you receive your amounts before the regular release.

This is because many believe that the refund is one of the advantages of filing, but we know that the payment order is determined by the date of filing the declaration, therefore, the most late payments end up falling into the final batches.

This year the last batch will fall on 09/30, and if you don't want to wait that long, it's worth checking out the advance proposals available on the market.

Below we will learn about some of them, so stay here to check it out!

Refund advance: learn about this new type of credit

Only those who have left their income tax declaration until the last week of the deadline know the anguish of having to wait almost 5 months for the deposit of the refund amounts.

This is because refunds are paid in batches, so the order in which these batches are paid depends on a number of factors, one of which is the date the declaration is submitted.

So, as a rule, those who deliver in the first few weeks tend to be in the first batches, while those who leave it until the final deadline receive the refund in the last batch, which is usually paid between September and October.

But waiting so long is not always viable, and the good news is that the financial market already has a solution for this: advance refund.

Refund anticipation is a type of credit offered by some banks, in which the bank offers the amount through a loan and the customer makes the payment on the date the lot is released..

In general, banks offer the possibility for the client to pay the loan in a single installment when the lot is released, and until then only pay the interest rates monthly.

++How to invest the money from your Income Tax Refund? – It increased in value.

Which banks offer refund advances?

By now you already know the central proposal of advance refund, then you know that waiting for your batch is not the only option available.

But, as with any type of credit, you should not accept the first proposal that appears.

This is because each bank offers its own conditions and applies specific interest rates, so it is worth researching to choose the best proposal.

Below we will look at some of the main offers on the market, check them out to choose the best alternative for you.

Santander

Santander's refund anticipation is called IR Anticipation, but in practice, it works using the traditional method: the bank anticipates the refund to be received.

In Santander's proposal you can advance up to 100% of the amount of your refund, and you can pay back the loan only when your batch date arrives.

In this modality, until your lot falls, you must pay monthly interest rates from 2.79% of the loan amount. 

The request is simple and Santander guarantees that the amount will be deposited immediately, directly into your bank account. 

For more information, go to Income Tax Advance – Santander.

Federal Savings Bank

With the IRPF Advance from Caixa Econômica Federal, you can receive up to 75% of the amount of your refund before the official date.

However, it is worth mentioning that this proposal is only available to declarants who chose a Caixa account to deposit the refund.

Furthermore, interest rates are variable and the loan is subject to IOF charges. 

In general, the proposal is in the traditional model: you receive the amount in advance, and until the date the lot is released, you make monthly payments corresponding to the loan interest rates.

When the amount is deposited by the Federal Revenue Service, the bank itself will carry out the discount to settle the credit. 

The request is simple and Caixa promises to deposit the amounts the day after the contract is signed.

Access the link to check the proposal details: IRPF Advance – Personal Credit | Caixa.

Bank of Brazil

Banco do Brasil's refund advance is similar to Caixa's proposal, since it is only available to declarants who indicated a BB account for depositing the refund.

But, the advantage of this option is that you can request the advance of the total amount, as long as the refund is of up to R$ 50 thousand.

The payment method is very simple, as it works through a single installment, so you pay off the loan when your lot is paid for.

It is worth saying that BB promises differentiated rates, then, you will check the interest rates at the time of application, after providing your CPF.

Regarding the request, it is very simple, as it can be done online, either through the website or the bank's app.

For more details, visit: IRPF Advance – BB Portal.

Bradesco

Until 7/31 you can do it advance refund with Bradesco for amounts starting from R$ 200, going up to R$ 50 thousand.

Bradesco's proposal follows the same line as the others, as you take the amount and can pay it off on the deposit date of your lot.

The bank does not clarify the interest rates on its website, so it is likely that this will be stated at the time of contracting.

With Bradesco you can request your advance via Internet Banking, or, if you prefer, you can go to a branch to do so.

For more information, go to Bradesco – For You | Income Tax Advance.

Is it worth making an advance refund?

Finally, we just need to answer one important question: after all, is it worth doing it? advance refund?

As with any credit proposal, the advance refund has interest, so it is important to apply with caution.

Furthermore, it is crucial that you take responsibility for paying on time to avoid default and charges.

In any case, if you don't want to wait for the deposit date and are willing to pay the interest, it may be a good option.

Therefore, choose the bank that offers you the best conditions and receive your money in advance!

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