requirements for applying for a loan and how much it lends you

requirements for applying for a loan and how much it lends you

What is Fonacot?

This institution, created by presidential decree on May 2, 1974, has the task of granting loans and other financial services for the acquisition of goods and services that contribute to raising the standard of living of workers, increasing their well-being and that of their families.

On April 24, 2006, it abandoned its trust figure when the Law of the Institute of the National Fund for Workers’ Consumption was issued.

Pursuant to Article 1 of said Law, Infonacot is a decentralized public body of social interest sectored in the Ministry of Labor and Social Welfare, with legal personality and its own assets and budgetary self-sufficiency.

Requirements to request a loan from Fonacot

You can have your Fonacot credit in cash, through a transfer to your bank account, with the lowest interest benefits on the market and with the convenience of paying via payroll. We recommend you check if you have a bank deposit limit to avoid setbacks in your process.

To process it, go to your nearest Fonacot branch , and make sure you comply with the following:

one. official identification valid with photograph (voter ID or passport)

two. Proof of address in your name for the current or immediately preceding month/bimester, of any of the following documents:

  • Water
  • Predial
  • Landline or mobile
  • Light
  • bank statement
  • Proof of address issued by a Federal, State, Municipal or Ejidal authority in which a stamp and signature are embodied.
  • Valid voter ID (as long as it contains the full address of the worker)
  • Last Account Statement from your Retirement Fund Manager (AFORE) with less than 6 months validity
  • Account statement of a commercial house
  • Receipt or bill for cable or satellite television services
  • Receipt or bill for stationary gas or underground natural gas
  • Notice for retention of discounts (Infonavit) with a validity of no more than 6 months from its issuance.
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