Infonavit; The Credit System; The recent Change

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Not many must be aware of what Infonavit is, and for those who already know what it is, stick ahead and see what the requirements are and how one can withdraw the money from Infonavit.

So, what is Infonavit?

Infonavit is an acronym for Instituto del Fondo Nacional de la Vivienda para los Trabajadores

It is considered to be one of the most important competitions or pillars of social security in Mexico. It’s considered to play a huge role in financing mortgages in different states in the country. It has granted more than 2 lakh housing loans to individuals.

What do you need to know?

Infonavit has to be seen to help many. Therefore, the institute becomes a major component promoting sustainable housing, providing funds that would cover modern technological help, leading to methods that help save electricity, water, gas, etc. This would further help reduce the family’s extra bill charges.

The institute is determined of helping people look for better houses and have more facilities, that too in their preferred area, hence increasing the credits gradually, leading to more coverage and better opportunities.

It also provides the facilities of taking a loan with low income or wage, leading more people to have a house of their own, fulfilling the dreams of many.

How does Infonavit help workers in México?

Infonavit has a National Workers Housing Fund scheme that extends its credits and loans to all the workers, even to the workers with low income. These credits can help buy a house, rent a house, help to pay off mortgages or build a new house. Though there are terms and conditions, which are very natural, Infonavit works towards the betterment of the nation and strives towards being responsible towards the families in Mexico.

That being said, let’s look at how to withdraw credit from Infonavit and what all is required to do so.

With the recent change that happened to the Infonavit Law, workers who are incorporated into the Mexico Institute of Social Security will be able to enjoy various benefits, especially those who have housing subaccounts, a type of savings that were collected over some time, having individuals to put in a few bucks every two months. These can be called the accumulated money.

How to go about it, and what are the requirements to request to get these credits?

The first thing one would need is an appointment that will be assigned with an application number. It requires a valid Social Security Number, a working bank account number, and banking statements. For identifying verification, valid ID proof is also necessary.

It’s also important that one doesn’t have any pending credits by Infonavit.

Infonavit is a great opportunity for many workers, for both low-income and average-income workers, to fulfil their dreams and build their houses. The recent news of the change of article 37 of the Infonavit Law has left many happy about all the benefits they could be entertained with and helped relax many workers from many financial struggles.


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