What are the requirements to obtain a loan?

Fonacot credit belongs to an institution that since it began as a trust grants credits to acquire services and goods that benefit workers and their families, therefore if you want to obtain a loan, you must know its requirements and how to apply, so keep reading …

How to obtain a FONACOT credit

Funified as a trust until it abandoned this figure in 2006 when the law issued by the national fund institute for the consumption of workers was expanded.

According to the same law, Infonacot is a public entity of social interest with self-sufficiency of budget, with its own patrimony and with legal personality that, divided into social security and the labor secretariat, forms a decentralized body.

Therefore, the organization aims to promote the growth of families’ assets and the full development of their workers so that they can access good credit and financial services that allow them to obtain services and goods of the best quality and at competitive prices.

Requirements for FONACOT credit

However, if you want to access the fonacot credit and have the cash credit that is transferred to your bank account with beneficial interest and with the payment via payroll, you must meet certain requirements such as:

  1. The procedure must be carried out in person by going to the offices if you are over 18 years old and have a job.
  2. If you are working and that job has been in service for at least one year.
  3. Your employer must be affiliated with FONACOT.
  4. Your work must be permanent or indefinite.
  5. You must get at least two personal references.
  6. You have to present the original of your valid official identification with a photograph, your passport or your credential to vote.
  7. Presents as proof of address the water bill in your name, the electricity bill in your name or the landline phone bill in your name and your account statement in your name from a bank and for the current month or two previous months but no more two months old.
  8. You will present a proof of address issued by the federal authority, state authority, municipal authority with stamp and signature.
  9. You must present your credential to vote that shows your full address.
  10. You must present the state of your AFORE account (Preferably it should be the last one but if you can’t find it it may be another one but not older than 6 months.
  11. You must present the statement of a business house.
  12. You will present a bill or receipt for satellite or cable television services.
  13. You will present the invoice or receipt for underground natural gas or stationary gas.
  14. You must present the INFONAVIT discount retention notice that is valid for no more than 6 months after it was issued.
  15. You will present the payroll receipts, the last one to be able to check your base salary or the last four to evaluate the base salary and fixed perceptions. Payroll receipts must be issued by the workplace, that is, by your employer.
  16. If you receive a monthly salary, you must present the last payroll receipt, the date of which cannot be more than 31 days after registering the pay period.
  17. If you receive a payment per fortnight, you will present the last payroll receipt that is not more than 16 days after registering the payment period.
  18. In the event that you are a commission agent, you will present the last four payroll receipts where your commission can be read.
  19. You will present the latest bank account statement or the summary of movements in your name and where your bank code can be seen CLABE, in order to make money transfers to you.
  20. If you meet all these requirements, you can go with the vouchers to the INFONACOT closest to your home.
  21. When you submit the application, it will be subject to your approval.

Fonacot credit simulator

  1. Login to: https://servicios.fonacot.gob.mx/InformacionGeneral/igSimuladorCredito.fonacot
  2. As soon as you enter you will see a box to complete.
  3. It begins by indicating the state of residence. Open the drop-down menu and choose your place of residence.
  4. Then open the other drop-down menu again and choose the delegation or municipality of residence.
  5. Answer if if you live in a border area, otherwise leave the box unchecked.
  6. In the next field they ask you what is your monthly income in $, enter only numbers without periods or commas.
  7. In the next field, enter what your gross monthly income is in $ without spaces, periods or commas.
  8. Enter your age.
  9. Click Yes, if you are a commission agent, otherwise leave the box unchecked.
  10. Finally click on Calculate.
  11. According to the income you have indicated, the simulator will show you the options for the term, capital, commission, initial interest, total interest, total credit and monthly payment.


If your application is approved, because you can qualify for the federal benefit even if your salary corresponds to the minimum, the money will be deposited in your bank account, as cash is not delivered.

Therefore, you must request your account statement with your interbank code so that you can receive the transfer or you will present your card with your first and last name.

If you do not have a savings or payroll card, you can go to Banamex and process the Transfer. The amount of money they can loan you depends on your income and deductions,

The amount that they can lend you is determined by the analysts according to the percentage of payroll discount that can be from 10 to 20% and terms of between 6 to 30 months as a period of time for the total payment.

The longer the term of completion of the loan, the higher the percentage of interest, but on average, the loan is usually 16 thousand pesos.

Video: Credit Requirements in FONACOT – How to access the effective Loan